Greece Is the Most Vulnerable Country In the Eurozone to a Shock to Tourism

Greece is the most vulnerable country in the Eurozone to a shock to tourism says DBRS Morningstar, Capital reported. According to the latest forecasts by DBRS, the recession in Greece this year will reach 7%, while the recovery in 2021 is expected to reach 4%. According to the DBRS’ adverse scenario, the contraction of the Greek GDP this year will come to 9% and growth in 2021 will move at a subdued rate of 1.5%. In June had predicted that in the mild scenario the recession in Greece this year will reach 6.5% (with growth of 4% in 2021), while under the adverse scenario the recession would come to 10% (with a recovery of 1.5% in 2021). DBRS stresses that it does not come as a surprise that the results show Southern European countries most vulnerable to the current shock using selected factors. Read more

Location