Small "Sun, Sea, and Sand" island destinations to be the worst affected by slowdown in global tourism flows this year, followed by Central and Eastern Europe, rating agency says.
Development bank looks at the resilience of states in the region to falling commodity prices, value chain disruption, declines in tourism and domestic disruption.
Unlike coronavirus-stricken countries such as Italy, the pandemic has had little impact on air pollution levels in the Western Balkans.
Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.
Montenegro is the last country in the Central and Southeast Europe region to report a coronavirus outbreak. The virus is now present in countries across the region and continues to spread despite governments’ efforts to contain it.
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.