Greek Accommodation Businesses Report Strong Q1 Turnover – Rhodes Sees Highest Rise  

Rhodes island. Photo Source: TUI

The upcoming opening of the summer tourism season and the pent-up demand for travel have driven demand for accommodation and food and beverages services in the first quarter (Q1) of the year, the Hellenic Statistical Authority (ELSTAT) said this week.

More specifically, according to ELSTAT’s latest report,  Greek accommodation services providers saw turnover increase by 204.9 percent to 283,075,798 euros in Q1 2022 up from 92,855,293 euros in the same period last year while businesses active in F&B reported a 120.9 percent rise in Q1 to 1,117,240,187 euros from  505,773,774 euros in the same period in 2021.

In the lead for the hospitality enterprises was the regional unit Rhodes, marking the largest overall increase in Q1 turnover compared to Q1 2021 up by 560.1 percent. The smallest rise – at 66,7 percent – was recorded in the regional unit of Kos.

Top performer in the F&B services segment in Q1 2022 was the regional unit of Thira (Santorini), which recorded the largest rise by 350.2 percent in Q1 compared to the same period last year.

The smallest increase – by 86.1 percent – was recorded in the regional unit of Heraklion, Crete.

Looking at March data, businesses offering accommodation services with double-entry bookkeeping saw turnover for the month increase by 240.7 percent to 91,897,549  euros compared to March 2021 and 26,969,308 euros.

F&B enterprises obliged to double-entry bookkeeping saw March 2022 turnover rise to 123,882,427 euros recording a 115.2 percent increase over the same month in 2021 and 57,555,388 euros.

Overall, for accommodation and F&B services providers obliged to double-entry bookkeeping, total March turnover came to 215,779,976 euros, marking a 155.3 percent increase over March 2021, at 84,524,696 euros. 

For March, leader in both segments was the regional unit of Zakynthos, reporting the largest increase in turnover up by 435.8 percent, with the smallest reported in Heraklion at 120.9 percent.