Strong Tourist Flows Boost Greek SME Business

Small and medium-sized enterprises in Greece are benefitting from this year’s increasing tourist activity offering support after two years of Covid-19 slowdown, said Hellenic Confederation of Commerce and Entrepreneurship (ESEE) President George Karanikas during his meeting on Tuesday with Tourism Minister Vassilis Kikilias.

Kikilias and Karanikas discussed ways to further strengthen the link between tourism and trade as well as future goals.

“The year 2022 has demonstrated that tourism is inextricably linked with the commercial world,” said Kikilias, adding that travelers to Greece support the market and Greek products with their purchases.

That’s why the ministry is focusing on extending the tourist season to more destinations countrywide in order to support the Greek family and local communities, he informed.

ESEE President George Karanikas and Greek Tourism Minister Vassilis Kikilias.

“In tourist areas, we’re seeing more revenues, much more than last year, while at some destinations we have even exceeded 2019 levels,” said Karanikas, underlining the importance of year-round tourist activity which he said will boost all businesses.

Indicative of the contribution of strong tourist flows,  Greece’s restaurants and hotels in July reported a 33 percent and 59.7 percent increase in turnover, respectively.

According to the Hellenic Statistical Authority (ELSTAT), in total, both hospitality and F&B enterprises – business activity directly connected to tourism – marked a 55.1 percent rise in overall turnover to 1.78 billion euros compared to the same month a year ago at 1.1 billion euros.

Greek tourism stakeholders are expecting the growing number of international arrivals to generate an estimated 20 billion euros by the end of 2022 outdoing pre-Covid revenues.