The recent lockdowns announced in Paris, Italy and parts of Germany, together with problems associated with the efficacy and delivery of AstraZeneca's vaccine, have generated all sorts of fears of further falls in Euro area GDP. In addition, there has been speculation that this situation could lead to a "lost" summer tourist season.  In this report, we analyze the foreseeable evolution of a very relevant sector for the Spanish economy and in terms of employment, especially now given the large number of furloughed workers.