Alpha Bank Predicts Banner Year for Greek Tourism in 2024

Alpha Bank anticipates a record-setting year for Greece’s tourism industry in 2024, supported by promising trends in the initial six months.

According to a report by Alpha Bank, which references data from the Bank of Greece, there is a noted 15.5 percent surge in tourist arrivals and a 12.2 percent increase in tourism revenue compared to the same timeframe in 2023—a year that itself broke records.

Strong Performance in July

The upward trajectory persisted into July, with a significant rise in tourist arrivals. Athens International Airport reported a 10.8 percent increase, while various regional airports in Greece experienced a 3.6 percent rise compared to July of the previous year.

Social Media Buzz

Greece continues to capture the social media spotlight, ranking among the top five European nations for positive mentions. Visitors frequently highlight Greece’s vibrant culture, culinary delights, favorable springtime weather, and exceptional "beach-sea experience."

High Visitor Satisfaction

Satisfaction among tourists in Greece remains remarkably high, with a qualitative index score of 9.2 points, surpassing the European average of 8.9. Athens also fares well, with a satisfaction score of 9.1.

Decrease in Average Tourist Spending

Despite these positive trends, average tourist spending in Greece has fallen. Average spending dropped from 681.30 euros in the first half of 2021 to 570.70 euros during the same period this year. This decrease is attributed to changing consumer behaviors influenced by inflation and the expanding "sharing economy." Notably, there was a 21.1 percent rise in tourists using electronic platforms for room rentals last year, with a further increase of 32 percent in the first quarter of 2024.