Greek Travel Agencies Cash in on Strong Tourism

Greek travel agencies saw their revenues increase thanks to the rising numbers of tourism in the last two years, according to a recent study by business information provider Infobank Hellastat.

The study found that turnover for the representative sample of businesses examined came to 1.32 billion euros, a 28 percent surge since 2012 as confirmed by the Hellenic Statistical Authority’s (ELSTAT) turnover index for sector enterprises, which marked a 6.6 percent increase in 2014 for the second consecutive year.

In 2013, the number of incoming tourists rose significantly by 15.5 percent, reaching 17.9 million and by 2014 the figure reached 22 million. International arrivals, meanwhile, were up by 23 percent. Of the 334 sector enterprises studied, Mouzenidis Group – with the establishment of destination management company Meeting Point Hellas – achieved the greatest growth.

According to Economic Research & Sectoral Studies Senior Analyst Alexis Nicolaides, cited in Greek daily To Vima, the growing figures are also due to an increase in traffic and revenue from archaeological sites and museums.

In January-November 2014, the number of visitors to archaeological sites increased by 21.6 percent year-on-year, reaching 9.77 million. At the same time, the number of visitors to museums rose by 22.6 percent to nearly four million.

However, on the downside, sector insiders point to several negative factors affecting Greek tourism among these the tedious bureaucracy involved in the issue of visas, the poor functioning and elusive hours of Greek museums and sites, and lacking initiatives in the area of cruise tourism.

Analysts add, that the turbulent political situation is also heightening fears with potential travellers to the country either delaying their bookings or avoiding Greece altogether.