In the first eight months of this year, Greece’s tourism revenues increased by 13.6%, with a 3.6% advance in the number of foreign visitor arrivals, according to data published by the Central Bank.
In August, the peak of the tourist season, revenues grew by 16.1% compared to the same period in 2018, while the number of foreign tourists saw an expansion of 11%.
Total tourism revenues increased by 1.58 billion EUR in the January – August 2019 period, totaling 13.241 billion EUR.
Analysts expect an increase in tourism revenues this year, despite the negative effects Greece faces following the bankruptcy of the British tour operator Thomas Cook.
Economic losses for the Greek tourism industry following the collapse of Thomas Cook are estimated at 250 – 500 million EUR, the Association of Greek Tourism Enterprises (SETE) recently announced.
In 2018, over 33 million tourists visited Greece, an increase of 9.7% compared to the previous year, and the tourism revenues generated by the Greek state grew by 10%, reaching 16.086 billion EUR.
In 2018, tourism contributed 20.6% to Greece’s GDP, compared to a level of only 10.4% globally, according to WTTC data.
Source: Economica
Frequently Asked Questions
How much did Greece earn from tourism in the first eight months of 2019?
Greece generated 13.241 billion EUR in tourism revenue between January and August 2019, a 13.6% increase compared to the previous year.
What was the impact of Thomas Cook’s bankruptcy on Greek tourism?
The collapse of Thomas Cook is estimated to cause economic losses between 250 and 500 million EUR for the Greek tourism industry.
How important is tourism to the Greek economy?
Tourism is vital for Greece, contributing 20.6% to the national GDP in 2018, which is significantly higher than the global average of 10.4%.