Greece Shines at World Travel Market with Robust 2025 Bookings
Ktimatoemporiki Real Estate - 2024-12-28
The World Travel Market, the world's biggest tourism exhibition held in London from November 5 to 7, closed on a very positive note for Greek tourism. Early bookings for 2025 are already well ahead of the corresponding period last year, something which signals strong demand for Greece as a destination. "Such an increase shows that Greece still remains a strong magnet," said the president of the Hellenic Hoteliers Federation, while adding that motives for such an increase need more detailed analysis.
With tourists opting for more economy-friendly vacations, many can take advantage of early booking discounts that sometimes include hotel rates slashed by 20-25% or even more. This surely fires up demand and lets visitors get premium Greek getaways at a cheaper price.
Greek hoteliers, however, appear set on profitability since aggressive discounts will, in the final analyses shrink their bottom line. In as much as the air is rife with the current enthusiasm but the full effect of the trend would well be considered in the months of the future.
Commenting on seasonal fluctuations, the president of the federation expressed also the challenge of keeping regular revenue. The peak months in 2024, July and August, showed fluctuations in comparison with 2023, underlining the unstable growth of tourism. Continuous expansion is a great ambition but requires balancing visitor influx with sustainable profitability.
Adding to the complexity of the equation is the increased price of tourist packages. The increased levies-including a 50% increase in the climate change tax this year-and the increased overnight stay taxes are burdens the hospitality sector has to bear. Visitors and industry stakeholders might think of these added costs in ways that shape the shifting dynamics in Greek tourism.
In the face of these realities, Greece remains a bright star in world travel. Projections for 2024 mean record-breaking arrivals and revenues, underlining the nation's enduring appeal. According to the Institute of the Greek Tourism Confederation, impressive growth was recorded, with 22.6 million international air arrivals from January to September 2024, up from 20.9 million in the same period in 2023. Similarly, road arrivals reached 10.3 million, a strong 14.5% increase over the previous corresponding year. Revenues from tourism, according to estimates of the Bank of Greece, are expected to increase by 3.2% this January to August 2024 compared to the same period a year ago.
With regard to real estate investors or enthusiasts, this can provide unparalleled opportunities. In particular, the strong inbound traffic underlines Greece as highly desirable not only to spend a vacation in, but even as a lucrative vacation home buy-and-rent market. From the tranquil islands of the Cyclades to the bustling cityscapes of Athens, the luxurious retreats of the Athenian Riviera offer a dynamic landscape for real estate investment in Greece. While early bookings for 2025 are at an all-time high, demand for quality accommodation and authentic Greek experiences will only continue to rise, hence making the acquisition of properties an attractive proposition.
The tourism resurgence in Greece underlines the ability of the country to attract visitors even during challenges faced globally. The promise of 2025 shines bright for hoteliers, investors, and travelers alike-a testament to the country's timeless charm and the resilience of its tourism sector.
With tourists opting for more economy-friendly vacations, many can take advantage of early booking discounts that sometimes include hotel rates slashed by 20-25% or even more. This surely fires up demand and lets visitors get premium Greek getaways at a cheaper price.
Greek hoteliers, however, appear set on profitability since aggressive discounts will, in the final analyses shrink their bottom line. In as much as the air is rife with the current enthusiasm but the full effect of the trend would well be considered in the months of the future.
Commenting on seasonal fluctuations, the president of the federation expressed also the challenge of keeping regular revenue. The peak months in 2024, July and August, showed fluctuations in comparison with 2023, underlining the unstable growth of tourism. Continuous expansion is a great ambition but requires balancing visitor influx with sustainable profitability.
Adding to the complexity of the equation is the increased price of tourist packages. The increased levies-including a 50% increase in the climate change tax this year-and the increased overnight stay taxes are burdens the hospitality sector has to bear. Visitors and industry stakeholders might think of these added costs in ways that shape the shifting dynamics in Greek tourism.
In the face of these realities, Greece remains a bright star in world travel. Projections for 2024 mean record-breaking arrivals and revenues, underlining the nation's enduring appeal. According to the Institute of the Greek Tourism Confederation, impressive growth was recorded, with 22.6 million international air arrivals from January to September 2024, up from 20.9 million in the same period in 2023. Similarly, road arrivals reached 10.3 million, a strong 14.5% increase over the previous corresponding year. Revenues from tourism, according to estimates of the Bank of Greece, are expected to increase by 3.2% this January to August 2024 compared to the same period a year ago.
With regard to real estate investors or enthusiasts, this can provide unparalleled opportunities. In particular, the strong inbound traffic underlines Greece as highly desirable not only to spend a vacation in, but even as a lucrative vacation home buy-and-rent market. From the tranquil islands of the Cyclades to the bustling cityscapes of Athens, the luxurious retreats of the Athenian Riviera offer a dynamic landscape for real estate investment in Greece. While early bookings for 2025 are at an all-time high, demand for quality accommodation and authentic Greek experiences will only continue to rise, hence making the acquisition of properties an attractive proposition.
The tourism resurgence in Greece underlines the ability of the country to attract visitors even during challenges faced globally. The promise of 2025 shines bright for hoteliers, investors, and travelers alike-a testament to the country's timeless charm and the resilience of its tourism sector.
