Trade and Tourism in Greece Have Strong Link, Study Confirms

Photo source: athensattica.com

Trade is an integral part of the Greek tourism ecosystem and more needs to be done to secure benefits for both segments of the economy, found a study released on Wednesday by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) during the “Trade and Tourism” event held at the Museum of Cycladic Art in Athens.

Looking at Greece’s main source markets, the ESEE study carried out by Institute of Trade and Services (INEMY) found that travelers from the UK, Germany, France, Italy and the US who choose for to stay in a hotel (62.5 percent) or Airbnb-style (19.9 percent) have an average (52.8 percent) income of 15,000-50,000 euros and spend around 200 euros per day per person. Of the 200 euros, 9 percent goes to the purchase of products from shops and 6 percent for food. Travelers on Crete spend the most – 26 euros on average – on shopping with American visitors spending the most (21 euros).

Photo © GTP

Top items purchased by tourists visiting Greece are souvenirs (24.3 percent) and traditional products (19.2 percent) driven in large part by travelers’ desire to bring home mementos from destinations visited (29.6 percent).

The majority of foreign travelers buy from local shops and markets (62 percent), while 47.6 percent said they were very likely to buy a Greek product online upon return.

According to study analysts, the findings indicate a need for Greece to attract higher-spending travelers and the importance of upgrading Greek shops’ digital presence while ensuring consistent distribution channels offering Greek products at competitive prices.

It is also crucial to introduce a new area of specialization that will accelerate the interconnection of tourism with trade, the creative economy and agrifood.

INSETE General Manager Elias Kikilias, Institute of Commerce and Services (INEMY) Research Director Valia Aranitou and Foundation for Economic & Industrial Research (IOBE) Director General Nikos Vettas.

Referring to study findings, Elias Kikilias, general manager INSETE (Greek Tourism Confederation Institute) said tourism resources should become a competitive and sustainable product that will boost domestic added value.

Among others, he said Greece was not competing with Turkey and Egypt but with countries like Croatia, Italy, Spain and Cyprus. The Greek tourist product’s strong points are friendliness and service, he said, adding that the country’s infrastructure is a weakness.

During ESEE’s “Trade and Tourism” event, Greek Tourism minister Vassilis Kikilias proposed an alliance between the ministry and ESEE for the promotion of a “Shopping in Greece” campaign. ESEE President George Karanikas welcomed the proposal.