IMF on Tourism

20 August 2022 |

Pandemic-related lockdowns, flight cancellations, and border closures may be putting a crimp on summer vacation plans. However, the precipitous drop in tourism will have an outsized impact on countries that rely on foreign travelers—with potentially large-scale effects on their economies’ national accounts.

Costa Rica, Greece, Morocco, Portugal, and Thailand could be among the hardest hit with losses in tourism proceeds exceeding 3 percent of GDP, according to the IMF’s recently released 2020 External Sector Report.

The chart calculates direct tourism impacts on imports, exports, and current account balances under a scenario that envisions gradual reopenings in September but a drop of about 70 percent in tourism receipts and international tourism arrivals in 2020.

Read more at the link below.

MORE INFO

ENTERPRISE GREECE
profile icon

Company Profile

READ MORE
dioikitiko simvoulio icon

Board of Directors

READ MORE
diktio sinergaton icon

Stakeholder Network

READ MORE
epikoinonia icon

Contact us

READ MORE

LOGIN