WTTC: Greek tourism sector growing over three times faster than rest of economy

March 21, 2019
Written by E.Tsiliopoulos

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WTTC: Greek tourism sector growing over three times faster than rest of economy

In 2018, the Greek Travel & Tourism sector grew at a rate of 6.9% – over three and a half times the pace of its wider national economy, which grew by 2.0%.

The sector represents 20.6% of Greek GDP compared to the global average of 10.4%. This means that one in every five Euros spent in Greece last year came from the Travel & Tourism sector, worth €37.5bn (USD $44.6bn).

Meanwhile, one-quarter of all employment in Greece is based on travel & tourism – equivalent to 988.6k jobs. In 2019, this figure is forecast to surpass one million for the first time since WTTC records began.

Even at the height of economic performance before the financial crisis, Greece still employed less people in Travel & Tourism than they did in 2018 (934.5k in 2006), indicating that not only has the sector economy recovered but it is now outperforming its previous peaks.

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