News

Greek Tourism Sector Growing At Record Pace

Date: 14.03.2019 / By Mia Taylor / TravelPulse.com / Comments (0)
Parthenon in Athens, Greece. (photo via Vasilis Protopapas / iStock / Getty Images Plus).

The Greek travel and tourism industry is growing at a record clip, a full three and a half times the pace of the country’s national economy.

New data from the World Travel & Tourism Council (WTTC) shows that the sector grew 6.9 percent last year, compared to just two percent growth in the country’s wider national economy. Travel and tourism now represent 20.6 percent of the Greek GDP, dwarfing the global average of 10.4 percent.

To make the impact of Greece’s tourism industry even clearer – one in every five Euros spent in the country last year came from the travel and tourism sector, which is worth $44.6 billion.

What’s more, one-quarter of all employment in Greece is based in the travel and tourism industry, which translates into about 988,000 jobs, according to the WTTC. For 2019, the jobs figure is likely to surpass one million for the first time since WTTC records began.

“Even at the height of economic performance before the financial crisis, Greece still employed less people in travel and tourism than they did in 2018 (934,000 in 2006), indicating that not only has the sector economy recovered but it is now outperforming its previous peaks,” said WTTC in a statement.

The same is true for GDP contribution, which has never before amounted to 20 percent of the country’s total GDP.

These figures come from the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector.

The research, conducted for almost 30 years by WTTC, shows that in 2018 the Greek sector

— Outpaced the EU’s regional travel and tourism growth rate of 2.4 percent. Both the EU and Greece’s wider economies grew at a rate of two percent, but the Greek travel sector leaped ahead of regional averages.

—Benefitted from €18.5 billion in international visitor spend, representing 27.9 percent of total exports.

—Two-thirds of inbound Greek travel spend came from international visitors (66 percent), and one-third from domestic travel (34 percent).

—Was driven by leisure spending, which comprised 94 percent of tourist spend compared to 6 percent for business.

“We are hugely impressed by the Greek growth rate and the government strategies that have spurred it on. Travel and tourism has had a huge role to play in driving Greek economic recovery, and is a chief employer of people,” said WTTC President and CEO Gloria Guevara. “Greece is an exemplary case study of how valuable an asset travel and tourism can be when the government prioritizes the sector.”

Greece’s Minister of Tourism of the Hellenic Republic, Elena Kountoura, said the country’s long-term tourism strategy, which has been in place since 2015, led to the outstanding growth now being reported.

“We achieved our target in creating thousands of new jobs, new business activity, new sources of income, and in mobilizing new tourism investments,” said Kountoura. “With our growth plan for the next day, we intend to maintain Greece’s strong momentum in tourism and maximize its benefits for the local communities across Greece, acknowledging tourism’s immense value as a major driving force for employment, economic and social prosperity.”

Greece is growing so popular that some parts of the country are considering caps on the number of visitors. Last year, Santorini began reviewing a plan to cap the number of cruise ship visitors in order to help deal with the growing trash on the island.



http://www.travelpulse.com/news/destinations/greek-tourism-sector-growing-at-record-pace.html

Reviews & Comments


GPE360.com (GreekPropertyExchange.com) has relaunched as the top Greek real estate and property website portal dedicated to Greece and Cyprus’ industry. GPE360.com’s members include top real estate agents, realtors, individual sellers, FSBO, sale by owners, architects, developers, construction companies, lawyers, notaries and others that advertise residential (house, home, land, apartments, flats, villas, land, parcels and commercial listings for those looking to buy, sell and rent across all of the Hellenic Republic. GPE360.com is like the MLS database portal that is advertised in the top Greek diaspora and international markets around the world to those looking to invest - including Australia, the United States, Canada, United Kingdom, Germany, France, Spain, France, Europe, South Africa, Russia and everywhere else. Most foreigners start their home search in popular destinations like Mykonos, Chania, Crete, Athens, Thessaloniki, Cyclades, Santorini, Rhodes, Corfu, Ios, Lefkada and many more cities, prefectures and regions in Greece. GPE360.com has been featured in most Greek news media outlets and in some of the leading international publications in newspapers, magazines, websites, online news portals, television and radio. Notable publications featuring GPE360.com and its founder, Georgios Stroumboulis include the Wall Street Journal, G1 Brasil, India Today, Barron’s, El Mundo, Naftemporiki, Kerdos, Isotimia, Vradyni, Elefterotypia, Elefteros Typos, Imerisia, Ta Nea, Ethnos, Neos Kosmos, GreekReporter.com, PappasPost.com, Voria.gr, Parapolitika.gr, MetroGreece.gr, People Greece, NewsBeast.gr, Radio Neo Show, Antenna ANT1 Satellite TV, MEGA TV, Makedonia TV, Channel 9 (Το Α και το Ω των ακινήτων). GPE360.com is the only real estate website to have produced its own reality TV show called Hellenic Home Hunting (www.HellenicHomeHunting.com). Created, produced and edited by George Stroumboulis’ media company, BouliBrand (www.BouliBrand.com), this TV show caused an international media storm for controversy during the unstable economy period in Greece. Visit www.GPE360.com for the latest property listings and start your search, register for an account to sell or simply browse our news. Stay connected with us on Facebook (www.facebook.com/gpe360), Twitter (twitter.com/gpe360), LinkedIn (https://www.linkedin.com/company/greek-property-exchange-gpe-), YouTube (https://www.youtube.com/user/gpe360), and Instagram (www.instagram.com/gpe360/). Use the hashtag #GPE360 and #HellenicHomeHunting.



featured on the front page of

The Only TV Show Promoting
Greek Real Estate to the World!
WATCH FIRST SEASON