Tourism

GREEK TOURISM REMAINS THE MAINSTAY OF THE ECONOMY

Greek tourism revenues account for nearly a 3rd (as much as 30.9%) of the nation’s GDP (Gross Home Product). It quantities to 47.four to 57.1 billion euros, flowing from the sector into the financial system.

Direct tourism trade revenues amounted to 21.6 billion euros (11.7% of GDP). That is the results of a latest examine by the Institute of Greek Tourism Corporations (INSETE) for the yr 2018.

Consequently, the Greek tourism trade is more and more turning into the mainstay of the nation financial system; 90% of the tourism income generated comes from overseas, by overseas guests. As well as, 5 billion euros have been invested within the tourism sector final yr.

Final yr 30.1 million guests spent their holidays in Greece (+ 10.eight%). 68% of them flew by air to the Mediterranean nation and 29% got here by automotive. On common, each vacationer spent 526 Euros throughout their vacation. 4 out of 5 of the vacationers (80.2%) visited the nation between April and September.

Within the excessive season alone, 411,000 jobs had been created within the trade (16.7% of whole employment). Not directly, in keeping with the INSETE evaluation, tourism has even generated as much as 44.2% of jobs in Greece.

Some areas at the moment are nearly totally counting on tourism. Within the area of southern Aegean, for instance, 97.1% of the GDP of this area is generated by means of tourism. Within the Ionian Islands it’s 71.2% and in Crete nearly half (47.2%). Nonetheless, the three areas are amongst these with the very best per capita earnings in Greece.

The examine concludes that within the years because the starting of the monetary and financial disaster in 2010, damaging developments equivalent to recession and excessive unemployment have been overcome largely by tourism.

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