The report, issued by the Academy of Tourism Research and Surveys, also shows that nearly 400,000 visitors turned their backs on Greece, many of whom chose alternative holiday destinations in Spain, Turkey and other Mediterranean resorts.

Given that the average visitor generates revenues of 730 euros, then the direct impact of the incidents in April and May totals as much as 208 million euros.

However, the report states that the extent of consequences on Greek tourism will be even heavier, as the incidents and negative publicity will continue to affect the number of arrivals for the whole year.

The report outlines three factors affecting Greek tourism: First, Greece’s fiscal condition has created a series of negative reports in the international press;

second, the volcanic ash cloud from Iceland grounded airplanes from northern and central Europe for more than a week in April and for a few days in May; third, the dramatic incidents of May 5 in Athens, in which three people died at the end of a demonstration, increased negative publicity that is still being fed by the ongoing labour action at ports.

As far as future tourism prospects, however, researchers paint a much rosier picture. According to data from the World Travel and Tourism Council, tourism arrivals to the country will soar by 46.2 percent in 2020 compared with this year.