Spain, Greece and Portugal are a key point of interest for European tourists and exports of travel services account for a large share of GDP in these countries (9.9% in Greece, 8.7% in Portugal, and 5.1% in Spain as of 2019).
All three countries faced a plunge in foreign tourist arrivals in 2020 due to COVID-19 outbreak, and exports of travel services collapsed. Spain was by far the most negatively affected as exports of travel services were nil in April and May and extremely low during June-September.
