According to news from the Bank of Greece, receipts from travel in January decreased by 4.7% year on year, corresponding to a decline in arrivals of 7.8%. Currently Greece’s deficit is at €742 million, up some €461 million euro from the same time last year. The news comes at the worst possible time as economic and political pressures mount in the region.
According to news from various sources, the 26-country Schengen area could suffer a huge blow to its tourism sector stemming from the migrant crisis. Border formalities once eliminated to facilitate ease of travel, may soon be re-instituted if the crisis persists. Some experts fear, if the Schengen zone goes, the EU won’t be far behind.