Greek tourism continues to soar, according to the economic bulletin of one of the country’s systemic banks, Alpha Bank, which projects the sector will remain robust in 2024.
As the report notes, one of many to highlight the impressive performance of tourism over the past two years, despite external pressures, such as inflation in European countries and geopolitical tensions in Ukraine, the Middle East, and recently in the Red Sea, it is set to once again exceed expectations.
Medium and long-term resilience in the tourism sector, the report notes, is associated with factors such as infrastructure projects – outlined in the National Recovery and Resilience Plan -, extending the tourist season, developing alternative forms of tourism, green investments, improved accessibility, as well as the retraining and upgrading of the skills of sector workers.
According to data from the Bank of Greece, in 2023, tourism revenues amounted to 20.5 billion euros, showing an increase of 15.7% compared to 2022 (17.7 billion euros) and 12.5% compared to 2019 (18.2 billion euros), which until then was a milestone for Greek tourism.
Significant increases were recorded in arrivals (7.8%) and revenues (9.1%) from four of the main source countries in 2023, namely Germany, the United Kingdom, France, and the United States, representing approximately 38.5% of total arrivals and 47% of total revenues, respectively.
Arrivals Up
Most international arrivals came from Germany (4.8 million, +9.5%), followed by the United Kingdom (4.6 million, +2.4%), with significant numbers also from France (1.8 million, +4.2%) and the United States (1.4 million, +29.2%).
Overall, arrivals from EU-27 countries increased by 15.6% in 2023, while arrivals from non-EU-27 countries increased by 20.8%. Similarly, in terms of revenues, most came from Germany (3.6 billion euros, +9.5%), the United Kingdom (3.3 billion euros, +5.8%), France (1.4 billion euros, +11.6%), and the United States (1.4 billion euros, +14%), with revenues from EU-27 countries increasing by 11.5% in 2023 and from non-EU-27 countries by 18.5%.
In addition, according to the annual survey of the Institute of Tourism Research and Forecasts (ITEP), the average hotel occupancy rates were higher in most months of last year compared to the corresponding rates in 2022, reaching 89% in August. Hotel turnover increased by 23%, and employment strengthened by 12.6% compared to 2022.
Source: tovima.com
Latest News
Vacant Properties in Greece Posing Risk of Forest Fires
Homeowners are calling on municipal authorities to clear away empty properties which pose a serious threat of fire in the summer
New ‘Jobmatch’ App to Link Greek Tourism Businesses with Jobseekers
New digital app ‘Jobmatch’ aims to help Greece’s tourism and hospitality sector fill hundreds of empty posts ahead of the tourism season
HSBC, Goldman Sachs Positive on Greek Economy
Goldman Sachs sees an upgrade of the Greek stock market
Greek Easter 1.5bln-Euro Turnover Satisfies Retailers
This year’s Orthodox Easter coincided with the beginning of the summer tourist season, resulting in a 15% increase in tourist traffic in downtown Athens
President von der Leyen’s Campaign Website Attacked by Bots
The President of the European Commission announced the attack, which comes one month before European Parliament elections and following a series of media reports about Russian-led disinformation campaigns, on her X account
MEPs Rake in ‘Whopping’ €8.7 mln in Side Gigs – Transparency Intl
The report opens a "can of worms" about the potential for foreign governments to influence MEPs and notes that Greece's MEPs rank the 3rd highest for their generation of side income
Greece Reacts Sternly to Turkish Decision to Open UNESCO Site Chora Church as a Muslim Mosque
"The decision of the Turkish authorities to start the operation of the Monastery of Chora as a Muslim Mosque constitutes a provocation to the international community", the Greek Foreign Ministry stated
DW: Greece Prepares for the 2024 Tourist Season Amid Climate Change Challenges
The Greek state has adopted measures to alleviate the impact of climate change
Greco-French Relations on Ice: Exploring the Chill between Mitsotakis and Macron
Macron allegedly sought increased military support for Ukraine, including weaponry and Western troop deployment for training in Western Ukraine, a request declined by Mitsotakis
Greece Secures Stable Tourism Flows at 30 Million Arrivals
However, despite this year’s bookings projected to rise slightly compared to last year, Yiannis Hatzis, President of the Panhellenic Federation of Hoteliers, stresses the importance of strategic planning