Greece is among the 10 countries with the highest aggregate Gross Value Added (GVA) generated from UK outbound tourism, a recent report by the Association of British Travel Agents (ABTA) said.
Titled, “Tourism for Good – A Roadmap for Rebuilding Travel and Tourism”, the report ranks Greece fifth on the list with 2.7 billion dollars in aggregate GVA.
This confirms the significance of the UK as a source market for Greek tourism.
The report also indicates that the aggregate impact of UK outbound tourism spending in Greece supports 1.5 percent of the country’s GDP.
Spain is first on the list with $17.4 billion, USA comes second with $10.4 billion, France is in third position with $8.9 billion, while Italy is in fourth spot with $4.5 billion.
“UK outbound travelers act as economic catalysts, with their spending adding significant net value to the economy of their host country (direct GVA). However, spending by travelers also spurs wider economic benefits through supply chains and associated industries,” the report said.
In 2018, UK outbound travellers spent £46 billion in total across all destination economies.
Overall, direct global GVA from UK outbound tourism is estimated at $28.8 billion, which directly supports 1.1 million jobs around the world.
When expenditure in the supply chains linked to tourism is taken into account, UK outbound tourists supported an aggregate GVA of $81.4 billion and 2.7 million jobs throughout the world.
According to the rerpot, tourism’s positive value has been noticeable by its absence during the COVID-19 pandemic for the many destinations and communities that rely on the sector and which have been hit hard by the sudden loss of income, revenue and employment.
ABTA’s “Tourism for Good” report aims to provide a framework for the restart of tourism activity in a more sustainable way, and emphasize the value of UK outbound tourism for domestic and international economy, employment and societies.