Greek tourism is set to mark a new record in arrivals and revenues in 2024 as the dynamic of Greece’s economic steam engine seems unstoppable. Following the ideal closure of 2023, which is expected to bring tourism receipts and arrivals to new heights, over €20.5 billion and more than 33 million tourists, respectively, the sector appears ready to break new ground.
International trends support these positive expectations, indicating a strong return of Americans and, especially, Chinese travelers to the global tourism market. It is noteworthy that the World Tourism Organization estimates that pre-pandemic levels will be reached globally this year, unlike last year when global tourism reached 90% of 2019 levels, with Europe having a better performance (94%). Greece, however, surpassed 2019 levels by 17.8% in receipts and 4.8% in arrivals, resulting in an increased market share in the Mediterranean from 10.1% to 10.9%.
The country also appears as a “secure haven” in the broader region, with Egypt and Tunisia being adversely affected by the conflict in Gaza. Therefore, all signals for 2024 are positive, with current reservations compared to the same period last year showing a single-digit increase ranging from 4% to 6%, while some popular destinations approach 10%.
Hoteliers will welcome the new season with room prices increasing by an average of 5% (based on agreements signed with tour operators last year), with some luxury hotels experiencing increases of up to 10%.
Speaking to ot.gr, the President of the Panhellenic Federation of Hoteliers, Giannis Hatzis, stated that he is “cautiously optimistic for an exceptional year.” Demand is high, with certain markets, such as the British, standing out, and overall, all major markets showing a very dynamic picture. However, he hastens to add that the year will develop exceptionally if there are no unexpected events that will affect demand, as happened with the pandemic.
Geopolitical disruptions, wars in our neighborhood, and the lag in the growth rates of European economies are the main inhibitory factors, with the seasonal surge of COVID-19 not yet factored in.
