The contribution of tourism to the Greek economy, 2019-2023
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
The article The contribution of tourism to the Greek economy, 2019-2023 first appeared in TravelDailyNews International.