Rising Demand Boosts Turnover at Greek Hotels and Restaurants

Greek hotels and restaurants posted strong gains in March reflecting a robust tourism dynamic for the months ahead, the Hellenic Statistical Authority (ELSTAT) said on Tuesday.

More specifically, according to ELSTAT monthly data, enterprises active in accommodation saw March turnover increase by 36.1 percent to 129,556,710 euros compared to the same month in 2022 and 95,200,970 euros.

In the same month, food and beverage services providers reported a 23.6 percent increase in turnover to 162,257,336 euros from 131,246,388 euros in March 2022.

Overall, both accommodation and F&B enterprises posted a total of 291,814,046 euros in turnover, up by 28.9 percent compared to March 2022 and 226,447,358 euros.

The largest turnover increase for March 2023 when compared to March 2022 2022 was recorded in the regional unit of Messinia up by 49.1 percent with the smallest rise at 2.3 percent recorded in the regional unit of Kos.

According to ELSTAT quarterly data, turnover for accommodation services providers in Q1 2023 increased by 28.6 percent to 375,267,348 euros compared to the first quarter of 2022 and 291,894,609 euros with the biggest increase recorded in the regional unit of Thessaloniki (70.9 percent) and the smallest at 6.9 percent in the regional unit of Kos.

In the first quarter of the year, F&B services providers reported a 27 percent rise in turnover to 1,525,622,347 euros from 1,201,667,877 euros in the same period a year ago.

The regional unit of Thira (Santorini) reported the biggest increase in Q1 turnover over Q1 2022 up by 42.4 percent with the smallest rise at 12.5 percent recorded in the regional unit of Mykonos.