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Greece Tourism Market

Market Insights on Greece Tourism covering sales outlook, demand forecast & up-to-date key trends

Greece Tourism Market by Age, Visit Purpose, Demographic, Nationality, Tour Type, Tourism Type & Region - Forecast 2022 - 2032

Greece Tourism Market Outlook

As per the latest findings of Future Market Insights, tourism Revenue in Greece is expected to be US$ 265.9 Million by the end of 2022. In the long-term, the Greece tourism is estimated to reach at around US$ 548.0 Million in 2023. Nearly 8 million travellers visited Greece in the first half of 2022 amounting to US$ 5.4 Billion.

Attribute

Details

Travel Gross Revenue 2022

~US$ 265.9 Mn

Projected Market Size (2032)

~US$ 548.0 Mn

Value CAGR (2022-2032)

~7.5%

Greece Tourism Market Top Players Share in 2021

~3%-8%

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2017-2021 Greece Tourism Market Outlook Compared to 2022-2032 Forecast

Home to marvelous heritage sites, rich culture, and breath taking views, Greece has been one of the most popular tourist destinations with people visiting from all across the world. In the year 2022, there has been a significant increase in the number of arrivals. Greece's tourism has had a direct impact on the country’s economy and just after the economic crisis, the tourism industry in the country hit rock bottom and that itself introduced the need for innovative tourism, which is at present in its thriving stage in correspondence to the earlier traditional tourism methods.

Further, various delicacies and cuisines in the country have been recognized for its healthy content and ingredients, which has attracted a large number of culinary enthusiasts to the regional culinary destinations. Ranging from its very famous Moussaka, which is baked and served both warm and cold, and with the flavour of beef with a touch of cinnamon, containing eggplant, potatoes, zucchini, and the sauce, to the traditional meatballs, the specialties displays the culture and variety of the local cuisine preferences, alternatively attracting foreign consumers towards the regional market.

Further, other tourism activities such as destination tourism, religious tourism, medical tourism, ecotourism, etc., have attracted a large pool of tourists to the country’s tourism activities, thus, boosting the local market over the historic years. The market witnessed a growth rate of around ~5.5% during the historic period of 2017 to 2021.

What are the Driving Factors Boosting the Tourism Market in Greece?

“Rich regional history on the back of increasing young enthusiasts to boost the market”

The Greece market is highly famous for its green valleys and the lust forest. Travellers from across the world visit such destinations in the country to experience the land of beautiful mountains and exotic beaches, which quite clearly displays the lifestyle in the country and attracts the tourist more. Greece is also known for its nightlife, and on the back of young enthusiast to experience, it becomes a primal factor, majorly for the local residing tourists. A high number of tourists prefer to have quiet time alongside beaches, which also delivers the feel of a European exotic location. Various such factors are driving the regional market for tourism.

Further, an abundance in country’s cultural and traditional activities as well as practices make it visible to consumers through its rural presence and its uniqueness. The rich history in the country from early ages also makes it a top destination for the historians and related enthusiasts. The growth in various such sectors of the country is boosting its tourism revenue and is forecast to exhibit same trend over the forecast period.

Nowadays young people are moving back to villages and rural areas to have a quiet and peaceful lifestyle and it’s spot-on for the tourists to spend some leisure time with rural beauty alongside. Greece is a diverse country equipped with exotic locations, Outdoor activities sure have a lot of fun, right from surfing the beaches, climbing the mountains, or a simple dive in, tourists surely encounter the best experience so whatever it is that they feel like doing, they can surely get it done here.

Sneha Verghese
Sneha Verghese
Principal Consultant
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What are the Key Factors Affecting Greece Tourism Adversely?

“A lack of tourism infrastructure to hinder the growth opportunities”

The regional infrastructure in Greece is hindered by a long recession and there have been many challenges in terms of telecommunication, health, and power supply. The subordinate investment in country’s regional infrastructure might hinder the regional market in long run.

Further, it is established that a new long-term plan for tourism in Greece will set the foundation for achieving multiple investments. A lack of luxury lodging, hotels, stays, and sports facilities is adversely hampering the market to a great extent. A lack of focus toward green policies is hindering the tourist and visitors perception as well as hampering the establishment of top players that are operating in the global market.

Category-wise Insights

Which Age Group Is More Likely to Travel Overseas?

“Middle-aged travellers are most likely to travel overseas”

The age group between 36-45 years is likely to have the major share of 29.5% in Greece travellers, which is followed by 46-55 years’ age group.

These travellers belong to the working population who are situated across the globe and have the spending capacity to take overseas tours. Whereas, there is also rise in overseas travellers of young age from 26-35 years. Tourists from this age group are mostly independent travellers who plan their trip on their own to various new destinations. The various promotional activities on social media platforms is attracting tourists across this age group and is forecast to display same trend over the forecast period.

Which Tour Type Will Have Maximum Number of Travellers during the Forecast Period?

“There will be a surge in the number of independent travellers”

As the internet is being used on a large scale across the world, there will be increase in the number of independent travellers with this segment contributing almost 30.8% in the Greece travels.

The tourist are mainly youngsters who are well versed with upcoming technology which makes it easy for them to search for affordable travel options and fabricate their tours as per their choices which is leading to increased number of youngsters opting for online travel plan options that saves time and money.

Which Booking Channel do Tourists in the Market prefer?

“Online booking channels lead the booking channel segmentation”

Tourists enjoy taking holidays, but for many, planning the trip is also a big part of that enjoyment. It usually takes a lot of time and effort to research and make a decision before purchasing travel tickets, accommodations, tours, or any other supplementary services or modes of transportation. However, the existence of online travel agencies has unquestionably both sped up the procedure and offered clients access to more choices.

People who book their vacations online prefer to compare travel on booking portals and hotel websites. Offline, however, arranging a trip is carried out with the aid of a travel company or a tour operator. The "Hashtag Generation," which includes Millennials and Generation Z, is more likely to try new things and seek out new experiences.

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Competitive Landscape

People who travel overseas frequently are in their middle years. By providing a straightforward booking process for tours and comfort throughout the trip, travel businesses all around the world use a number of strategies to attract particular demographic consumers. Some players are also providing discounts on tour packages and in-advance reservations.

Scope of Report

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

USD Million for Value

Key Countries Covered

Greece

Key Segments Covered

  • Visit Purpose
  • Demographic
  • Nationality
  • Tourism Type
  • Tour Type
  • Age

Report Coverage

Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives, Spending,

Customization & Pricing

Available upon Request

Greece Tourism Market by Category

By Age:

  • Under 18
  • 18-25
  • 26-35
  • 36-45
  • 46-55
  • Over 55

By Visit Purpose:

  • Business & Professional
  • Leisure, Recreation & Holidays
  • Healthcare
  • Religious Travel
  • Other

By Demographic:

  • Male
  • Female
  • Kid

By Nationality:

  • Domestic
  • International

By Tour Type:

  • Corporate
  • Family
  • Couples
  • Youth Groups
  • Single Tourists

By Tourism Type:

  • Religious Tourism
  • Cultural/Heritage Tourism
  • Medical Tourism
  • Others

Frequently Asked Questions

The current Greece tourism market reached a valuation of US$ 250.4 Mn in 2021.

The Greece tourism market is currently forecast to grow at a rate of 7.5% CAGR during the forecast period.

Leading players in Greece tourism market contributed at around ~3%-8% of overall market size in the year 2021.

Table of Content

1. Executive Summary

    1.1. Greece Market Outlook

        1.1.1. Who Is Travelling?

        1.1.2. Travel Gross Bookings

        1.1.3. Travel Gross Revenue

        1.1.4. How Much Do They Spend?

    1.2. Greece Tourism Evolution Analysis

    1.3. FMI Analysis and Recommendations

    1.4. GDP Share by Sector

2. Consumption Trends in Greece Tourism

    2.1. Websites used for Destinations Research

        2.1.1. Online Travel Agency

        2.1.2. General Search

        2.1.3. Travel Review Sites

        2.1.4. Travel search engines/apps

        2.1.5. Vacation rental site

        2.1.6. Other Players

    2.2. Website used for Comparing and Choosing Travel Products

    2.3. Preferred Website for travel Booking

    2.4. Opportunities from New Courses

    2.5. Adapting To The Shifting Demographics

        2.5.1. Gen Z

        2.5.2. Millennial

        2.5.3. Gen X

        2.5.4. Baby Boomers

        2.5.5. Silent Generation

    2.6. Females Representing Higher Percentage of Beginners & Juniors

    2.7. International Tourist Accommodation Type (% of demand), 2022

3. Supply to Demand : Todays Travel Distribution Network

    3.1. Direct v/s Indirect Distribution

    3.2. Travel Gross Revenues, by Channel, 2022

        3.2.1. Supplier Direct

        3.2.2. TMC

        3.2.3. Tour Operator

        3.2.4. OTA

4. Direct Suppliers in Greece Tourism

    4.1. Total Supplier Market , Share by Segment (%), 2022

        4.1.1. Airlines

        4.1.2. Hotel Companies

        4.1.3. Car Rental

        4.1.4. Train

        4.1.5. Tour Operators

        4.1.6. Government Bodies (*Note – Excluding Tour Operator)

5. Indirect Suppliers in Greece Tourism

    5.1. OTA (Online Travel Agency)

    5.2. Traditional Travel Agencies

    5.3. TMC's( Travel Management Companies)

    5.4. Corporate Buyers

    5.5. Aggregators

6. Greece Tourism Number of Bookings, 2022

    6.1. By Age

        6.1.1. Under 18

        6.1.2. 18-25

        6.1.3. 26-35

        6.1.4. 36-45

        6.1.5. 46-55

        6.1.6. Over 55

    6.2. By Visit Purpose

        6.2.1. Business and professional

        6.2.2. Leisure, recreation and holidays

        6.2.3. Healthcare

        6.2.4. Religious Travel

        6.2.5. Others Purpose

    6.3. By Demographic

        6.3.1. Male

        6.3.2. Female

        6.3.3. Kid

    6.4. By Nationality

        6.4.1. Domestic

        6.4.2. International

    6.5. By Tour Type

        6.5.1. Corporate

        6.5.2. Family

        6.5.3. Couples

        6.5.4. Youth Groups

        6.5.5. Single Tourists

    6.6. By Tourism Type

        6.6.1. Religious Tourism

        6.6.2. Cultural/Heritage Tourism

        6.6.3. Medical Tourism

        6.6.4. Others

7. Greece Travel Gross Revenue

    7.1. Greece Travel Gross Revenue (US$ Mn) and Forecast (2022-2032)

    7.2. Number of Bookings (Mn) and Forecast (2022-2032)

    7.3. Total Spending Y-o-Y Growth Projections (2022-2032)

    7.4. Number of Tourists Y-o-Y Growth Projections

8. Challenges & Looking Forward

    8.1. Success Stories : Case Studies

    8.2. FMI Recommendations

9. Market Stakeholders Landscape – Key Direct Suppliers

    9.1. Airlines

        9.1.1. Top Players

        9.1.2. Market Concentration

        9.1.3. Market Share

    9.2. Hotel Companies

        9.2.1. Top Players

        9.2.2. Market Concentration

        9.2.3. Market Share

    9.3. Car Rental

        9.3.1. Top Players

        9.3.2. Market Concentration

        9.3.3. Market Share

    9.4. Train

        9.4.1. Top Players

        9.4.2. Market Concentration

        9.4.3. Market Share

    9.5. Tour Operators

        9.5.1. Top Players

        9.5.2. Market Concentration

        9.5.3. Market Share

10. Social Media Sentimental Analysis

    10.1. Travel Influencers : a new Phenomenon in the world of Tourism

    10.2. Social Media Platforms Preferred

    10.3. Trending #Hashtags

    10.4. Social Media Platform Mentions (% of Total Mentions)

    10.5. Trending Subject Titles

11. Assumptions and Acronyms Used

12. Research Methodology

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List of Tables

Table 01 : Market Capital Investment in Travel & Tourism by Country (US$ Bn)

Table 02 : Market Total Tourist Arrivals (Mn), 2020

Table 03 : Market Total Spending (US$ Mn) and Forecast (2022-2032)

Table 04 : Market Number of Tourists (Mn) and Forecast (2022-2032)

Table 05 : Market Spending per Traveller (US$ Mn) and Forecast (2022-2032)

Sneha Verghese
Principal Consultant
LinkedIn
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List of Charts

Figure 01 : Market Total Spending (US$ Mn) and Forecast (2022-2032)

Figure 02 : Market Total Spending Y-o-Y Growth Projections (2017-2032)

Figure 03 : Market Number of Tourists (Mn) and Forecast (2022-2032)

Figure 04 : Market Number of Tourists Y-o-Y Growth Projections (2017-2032)

Figure 05 : Market Spending per Traveller (US$ Mn) and Forecast (2022-2032)

Figure 06 : Market Spending per Traveller Y-o-Y Growth Projections (2017-2032)

Figure 07 : Current Market Analysis (% of demand), By Age, 2021

Figure 08 : Current Market Analysis (% of demand), By Visit Purpose, 2021

Figure 09 : Current Market Analysis (% of demand), By Demographic, 2021

Figure 10 : Current Market Analysis (% of demand), By Nationality, 2021

Figure 11 : Current Market Analysis (% of demand), By Tour Type, 2021

Figure 12 : Current Market Analysis (% of demand), By Tourism Type, 2021

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Greece Tourism Market