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Economy

Greece Tourism Revenues On Path for 19 Billion Euros Record

ATHENS – Not even the slowing COVID-19 pandemic is cutting into prospects for 2022 being a record year for tourism, on a curve to reach 19 billion euros ($18.71 billion) to surpass the 2019 levels.

Greek Tourism Confederation (SETE) President Yiannis Retsos gave the news during the Ellada Meta conference in the capital, citing Bank of Greece seven-month data to July 2022, said GTP Headlines.

He said that tourism-related revenues will surpass 2019’s record 18.2 billion euros ($17.92 billion) that came from another record 33 million arrivals, more than three times the country’s population.

“We can expect revenues in the range of 18.8-19 billion euros, which is very important considering that this year’s budget predicted 80 percent of 2019 revenue,” he said.

That came after a recent Alpha Bank report which estimates that tourism revenue this year will reach 20 billion euros ($19.69 billion) that would be a bonanza for the New Democracy government putting out state aid for soaring energy costs, inflation and an election year coming in 2023.

Retsos said he also expects 2023 to be a good year for Greece despite the geopolitical turmoil, the energy crisis and inflation, which he said will limit the buying power in Greece’s main markets, mainly those in Europe, the site said.

“Greece managed to create a very strong tourist brand. We are now among the five most important tourist brands in the world and Greece is in the top three choices of potential travelers in main target markets, and especially in European markets,” he said. “This makes us optimistic.”

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