According to data from the Bank of Greece, 2024 is expected to be a record year for tourist arrivals and revenues (€21.5 billion) despite tourists spending less than last year.
The data refers to the five main foreign markets for tourists visiting Greece (Germany, the United Kingdom, France, Italy, and the USA). Four of these markets (excluding Italians) spent less than last year.
Americans had the highest average spending per trip this year at €1,040 (€1,082 in 2023), followed by the British at €742 (€761 in 2023), the Germans, the largest group of tourists visiting the country, at €703 (€787 in 2023), and the French at €668 (€802 in 2023).
From July to September, tourism accounted for 16.4% of employment, with 22.2% of Greeks expressing concern about economic dependence on a single sector.
The reduction in spending is linked to shorter stays, as the average duration fell from 7.8 days in 2023 to 7 days in 2024. This decline is attributed to the rise of the “city breaks” trend, inflation in the EU reducing Europeans’ purchasing power, and tourists’ sensitivity to price-quality ratios. Additionally, arrivals from neighboring Balkan countries have increased, where tourists typically stay and spend less.
Due to climate change, tourist arrivals have also shifted in timing as tourists try to avoid extreme heat. This is reflected in the decrease in revenues in July and August, which rose proportionally in September.
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