New “black” data for Tourism: The good “customers” of Greece postponed their holidays – Worrying findings for the next 12 months

The coronavirus shows its teeth again, inside and outside the borders, intensifying the anxiety and concern of the professionals of Tourism and Catering, who try to be caught by the slightest positive news. 

The damage that Tourism suffers due to the absence or limited arrivals of visitors from countries – “clients” of Greece, has been analyzed many times and currently this picture has not changed for the better. On the contrary. 


According to the research, the economic crisis caused by the pandemic will affect, to a lesser or greater extent, the personal and family income situation of over 60% of the population and in some countries over 90%. On the contrary, depending on the country, a percentage of the population ranging from 4% to 29% remained unaffected by the economic crisis, while a smaller percentage (1% to 15%) is not sure whether it will be affected or not. 
Another study-research of INSETE records two key elements, which certainly exacerbate the concern. The first is that those who have postponed their vacations due to the coronavirus are not burning to make them, obviously setting other priorities for their expenses, as the financial uncertainty caused by the pandemic is not negligible. The second element “photographs” the developments in the next 12 months and the “gray” estimates for the continuation of the vibrations seem to be confirmed, as a large part of the respondents answered that they will take a vacation in their country or will not take a vacation at all! 

Regarding the 5 main markets of incoming Greek tourism: 

29% of Germans estimate that they will not be affected at all, 41% estimate that they will be affected a little and 22% very or dramatically. 
in Britain, the corresponding rates are 24% at all, 41% little and 26% very or dramatically 
in the US, 22% Not at all, 37% a little and 34% a lot or dramatically 
in France, 25% Not at all, 43% a little and 26% a lot or dramatically 
and in Italy, 12% Not at all, 43% a little and 40% a lot or dramatically. 
The remaining percentages (6% in France and Italy, 7% in the US and 9% in Germany and Britain) are for those who are unsure about the impact of the pandemic on their financial situation. 

Tourism: At least 4 in 10 postponed their holidays due to finances
In all the reference countries – as expected – due to the pandemic, consumers have postponed the cost of holidays and travel with greater intensity compared to other consumer goods and services. The percentage ranges from 37% in Belgium to 61% in China. For the top-5 of the tourist markets of Greece, the percentages amount to 40% of the Germans, 44% of the British, 47% of the Americans, 41% of the French and 50% of the Italians.

Although vacation spending is the relatively common answer to consumer priorities as soon as conditions allow, the relative responses are relatively low, between 20% and 30% of the population. These percentages are lower than the percentages of consumers who postponed the relevant expenditure, an indication that is in line with the expected impact on their financial situation, but also their health concerns. 

Specifically for the five most important tourist markets of Greece: 

Germany: 27% prioritize holiday spending as soon as conditions allow, compared to 40% who postponed it, 
Britain: the corresponding rates are 26% versus 44%, 
USA: 28% vs. 47%, 
France: 25% vs. 41%, 
Italy: 25% vs. 50%. 

Tourism within borders or … not at all
Also, the percentages for priority for expenditure for flights are low, strengthening the resulting image, that is, that the majority of the respondents will spend either holidays in their country or in their region (staycations). 

A significant part of the population, regardless of country of origin, estimates that in the next 12 months they will spend either holidays in their country (27% to 55%) or in their region (staycations) (11% to 40%), while the share of those who do not intend to take a vacation (from 23% to 41%). 

In the main European markets of Greece, holidays in other European destinations are chosen by a percentage that does not exceed 25% in Germany and the United Kingdom, 17% in France and 13% in Italy. In these countries, 38% to 47% say they will be vacationing in their own country and 16% to 20% in the region, while 26% to 32% do not intend to take a holiday. For long haul shopping, holidays on another continent are chosen by only 10% of Americans, 12% of Australians and Canadians, 13% of Indians and 6% of Chinese.


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