Tourism takings of €25 bln
Signs point to a further expansion in revenues for Greece from last year’s record season
There are growing indications that Greek tourism, after a record year in 2023, is headed for further growth of around 10% this year.
In addition to the 12% increase in bookings for holidays in Greece in January this year compared to the same month in 2023, reflected in the latest figures from the Greek Tourism Confederation, now Europe’s largest tourism organization, TUI AG has reported 8% average holiday booking growth in Europe, with the strongest performances coming from Greece, Spain and Turkey. Along with the increase in holiday packages, the German tour operator also reported a 4% increase in the average price compared to last year.
Based on the data available so far from the Bank of Greece, which refer to revenues of 22 billion euros for 2023, the above estimates are equivalent to travel receipts of €25 billion in 2024 for the Greek economy.
Currently, the bookings data as well as air seats planning, not only by TUI but by the entire market, show a significant increase this year for Athens, as well as for Thessaloniki and nearby destinations. As the year progresses, individual trends toward specific summer destinations are expected to become more visible, with Rhodes, Crete and Kos, as well as major destinations in the Ionian Islands, such as Corfu and Zakynthos, expected to draw interest.
According to what TUI AG announced in the context of the update on the results of the first quarter of its financial year (October-December 2023), the positive momentum of bookings (based on the data available in its databases on February 4) is continuing and shows it is currently running at an average annual rate of growth in bookings for all destinations it operates in of 8% for winter 2023-24 and also an increase of 8% for summer 2024.
TUI has so far recorded a total of 9.4 million bookings for winter 2023-24 and summer 2024 combined, compared to 8.7 million the previous year. Average prices for winter 2023-24 are currently 4% above last year’s level.
