Latest News
HomeColumnsReportsThe contribution of tourism to the Greek economy, 2019-2023
Reports

The contribution of tourism to the Greek economy, 2019-2023

Aselinos
Aselinos beach, Skiathos, Greece

The study analyzes the contribution of tourism to the Greek economy for the year 2023, as well as in relation to 2022 and 2019. The figures for Inbound and Domestic Tourism, Investments as well as the Indirect and Induced Effects of tourism activity on the Economy are analyzed.

According to latest INSETE report, inbound tourism in 2023 in Greece recorded new peaks in both arrivals and revenues, surpassing even the levels of 2019. Specifically, in 2023:

  • Inbound tourism receipts amounted to 19.8 billion euros, up +12.2% compared to 2019 (17.7 billion euros) and +14.9% compared to 2022 (17.3 billion euros).
  • Including cruise revenues, receipts amounted to 20.7 billion euros, up +13.8% compared to 2019 (18.2 billion euros) and +17.0% compared to 2022 (17.7 billion euros).
  • Inbound tourism arrivals reached 32.7 million in 2023, up +4.4% compared to 2019 (31.3 million) and +17.6% compared to 2022 (27.8 million).
  • Taking cruise tourism into account, arrivals reached 36.1 million in 2023, up +6.1% compared to 2019 (34.0 million) and +20.8% compared to 2022 (29.9 million).
  • the direct impact of tourism (including inbound tourism, cruises, airline and ferry revenues, domestic tourism, and tourism investments) on the Greek economy in 2023 – at current prices – was 28.5 billion euros, corresponding to 13.0% of the country’s GDP, while if its indirect contribution through multipliers is included, it corresponds to about 30% (between 28.5% and 34.3%).
  •  the direct impact of tourism increased by +23.5% compared to 2019 (23.1 billion euros) with significant increases in all individual expenditures (inbound, cruise, transport, domestic, investment).
  • compared to 2022, when the direct impact was 23.9 billion euros, the increase in 2023 was 19.5%, also with significant increases in all individual expenditures.
  • It is noteworthy the increase in investment to 5.1 billion euros, of which 2.5 billion euros in domestic value added, compared to €2.7 billion / €1.2 billion in 2019 and 3.7 billion euros / 1.7 billion euros in 2022 respectively.
  • the performance of cruise (3.3 million arrivals, 8.3 million overnight stays and 847 million euros in receipts), showed an increase of +64%, +155% and +102% respectively compared to 2022 and +26%, +104% and +70% compared to 2019.

 

Tourism_and_Greek_Economy_2022-2023
Co-Founder & Managing Director - Travel Media Applications | Website | + Posts

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

21/05/2024
20/05/2024
17/05/2024
16/05/2024
15/05/2024