The looming new record in tourism and the "thorn"

The first data are extremely encouraging for the future. In addition to the measurements of the Bank of Greece, which showed an increase in receipts by 4.4% in the first quarter, it is mainly the messages from the reservations for the coming months that reinforce the certainty that the bar can be set higher than 2024, despite the international uncertainty.

According to Airdata Tracker, the planning of airline seats for the season shows an increase, not only in the "hot" quarter of June - August, but also in the two months of September - October (4.6% and 5.5% respectively), which seems to be consolidated as a holiday period in Greece for many foreign visitors. Bookings from countries-markets that act as a barometer are also recording an increase. In particular, bookings from Italy have increased by 17%, from the United Kingdom by 7.4%, from France by 5.1%, from Germany by 4.8%. Bookings from the USA are currently showing a negative sign (-8.9%), which obviously has to do with the climate of uncertainty about how the American economy will fare.

The data from Eurocontrol are also very encouraging, showing that Greece is once again among the top 10 countries with the highest mobility at its airports. With an average of 1,647 flights per day in the second week of May, Greece recorded a weekly increase of 9%, recording a 1% increase compared to last year. As for the comparison with the landmark year of 2019, the increase is around 19%!

The “thorn”
Despite the positive numbers, one can, however, discern a concern among industry professionals. Their concern is based - not unjustly - on the fact that, although there is an increase in visitors and ultimately in receipts, per capita spending is decreasing year by year. What does this mean? That foreign visitors are coming, but they are spending less, so if the season does not open, the... ceiling in receipts is not far away.

The latest data from the Bank of Greece showed that in the first quarter the average expenditure per trip amounted to 425.4 euros, compared to 430 euros in the corresponding period last year, while the number of visitors increased by 5.4%. Is this picture, perhaps, cyclical? Probably not, as the special study by INSETE for the entire otherwise successful year last year highlights the “thorn” in per capita travel expenditure. The expenditure per visit in the 13 Regions of the country in 2024 amounted to an average of 523 € compared to 546 € in 2023, showing a decrease of 4.2%. This decrease, despite an increase in the average expenditure per overnight stay by 2.9% (from €87 to €89), is due to a decrease in the average length of stay by 6.9% (from 6.3 to 5.9 overnight stays). In general, more people came, but they stayed for fewer days and spent less.

The distribution by Region is also extremely interesting, as it shows where planning should be carried out, to avoid unpleasant surprises:

The highest expenditure per visit in 2024 was recorded in the Region of Crete with €767, showing, however, a significant decrease of 19% compared to 2023.

The Region of South Aegean follows with €752, showing a slight decrease of 2%.
In the North Aegean, the expenditure per visit amounted to €677, down by 5%.
In the Ionian Islands, the expenditure per visit amounted to €578 (-4%).
In Attica, it reached €541, recording an increase of +13%, exceeding the average of €523.
Peloponnese with €491 recorded a decrease of 6%.
Western Greece records an average expenditure per visit of €425, recording an increase of 14%.
Central Greece presents the largest percentage increase of 23%, reaching €414.
In Thessaly, the expenditure per visit amounts to €344, decreasing by 15%.
Eastern Macedonia-Thrace records €267, despite increasing by 5%
Western Macedonia €234 decreased by 5%
Central Macedonia €211 decreased by 8%.
The Region of Epirus presents the lowest average expenditure per visit for 2024, which amounted to €192, recording a marginal decrease of 1%.