Tourism Businesses Cut Employees’ Wages
Tourism continues to be one of the sectors most affected by the COVID-19 pandemic. Although there are no official figures, dozens of businesses in this sector, hotels, restaurants and travel agencies have been closed.
While the entities that still continue their activity are facing lack of sales, and consequently INSTAT reports that they have reduced the number of employees and the level of salaries. The group of hotels has reduced the salaries of employees by 25.7%, and the number of employees by 27, as their sales volume has shrunk by 34.4%, compared to the third quarter of 2019.
The second sector with the highest pay cuts are travel agencies. In the third quarter of this year, which coincides with the months of the tourist season July-September, the sales of these businesses decreased by 56.9%, while the number of employees and salaries decreased by 26.8% and 23.6%.
This group is followed by bars and restaurants that have reduced the salaries of employees by 22.8%, while the number of employees has shrunk by more than 24%. While the second sector most affected by the pandemic is transport, whose sales fell by 37.2%, while wages fell in the third quarter by 15%.