Tourist revenue plunge 71% in March

Tourist revenue plunge 71% in March

High pressure on travel revenue was recorded in March, as expected, as it was the first month that the lockdown was implemented due to the spread of coronavirus. However, the above is a first indication of the pressure for the tourism industry and the crucial summer period.

In particular, revenue in March 2020 recorded a 71% fall, amounting to 92 million euro, compared to 318 million euro in the corresponding month of 2019, while a fall of 75.7% was observed in travel payments ( March 2020: EUR 61 million, March 2019: EUR ​​250 million).

The fall in travel revenue is due to the decrease in incoming travel traffic by 46.8%, as well as the decrease in average expenditure per trip by 45.7%. Net revenue from travel services accounted for 1.8% of the goods deficit and contributed 8.9% of total net revenue from services.

Revenue from residents of EU-27 countries fell by 67.2% to 43 million euro, while revenue from non-EU-27 countries fell by 74.0%. The drop in revenue from residents of EU-27 countries was a result of a decrease in revenue from residents of eurozone countries by 71.9%, as well as revenue from residents of EU-27 countries outside the euro area by 48.2%, which amounted to 14 million euro.

In particular, in terms of the most important countries of origin of travelers, revenue from Germany decreased by 82.0% and amounted to 6 million euro, while those from France decreased by 51.1% and amounted to 5 million euro. From non-EU-27 countries, UK revenue fell by 82.5% to 5 million euro. Revenue from the US fell by 79.3% to 9 million euro, while revenue from Russia fell by 62.4% to 2 million euro./ibna