Inbound tourism to Greece has increased overall to November with the number of arrivals up in October driving revenue from the source markets of Germany, UK, France, and Italy, INSETE, the Greek Tourism Confederation’s (SETE) intelligence body.
According to INSETE’s November bulletin, Greece’s major airports saw a 12.4 percent rise in incoming traffic since the beginning of the year until October, up in Athens by 18.9 percent and by 10.3 percent at regional airports. International arrivals by road for the same period were down by 2.1 percent.
For the month of October, the number of arrivals at major airports grew by 7.7 percent, up by 16.1 percent in Athens and by 4.2 percent at regional facilities, with arrivals by road up by 11.3 percent.
In the meantime, according to the Civil Aviation Authority, slot positions for international flights are expected to increase by 12.3 percent for the whole season.
In terms of bookings, October activity was driven mainly by the German, UK, French and Italian markets with Trivago data showing that hotel rates were rising but still competitive with prices at hotel units in rival destinations abroad.
Again the exceptions were Mykonos and Santorini, both established internationally as high-expense destinations.
Popular choice destinations for October were Athens, Mykonos, Santorini and Thessaloniki, for foreigners, with the Greeks opting for Athens, Thessaloniki, and the seaside towns of Nafplio and Loutraki.
Investment activity, INSETE data revealed, is holding strong with Thomas Cook announcing plans announcing plans to invest in four units on Crete, Kos and Rhodes, while Ikos Resorts launched construction on its resort in Andalusia.
According to the INSETE bulletin, turnover generated by the Greek hotel industry is estimated at 5.7 billion euros, or approximately 3.5 percent of GDP.
SETE analysts go on to note that the sector has made a significant contribution to the economy amounting to 755 million euros after depreciation and more than 1.75 billion euros in gross investments. The majority of investments are in 5-star hotels and concentrated in the South Aegean, Crete, Attica, Central Macedonia and the Ionian Island regions.