Greece’s F&B and Accommodation See 10% Rise in 2023 Turnover

Photo source: Visit Greece

Accommodation and F&B services providers saw turnover increase by approximately 10 percent in 2023, according to the latest data released by the Hellenic Statistical Authority (ELSTAT).

More specifically, enterprises active in accommodation activities reported a 10.1 percent increase in turnover in 2023 compared to 2022 to 9,683,582,528 euros. Turnover in 2022 came to 8,793,103,758 euros.

In 2023, F&B services providers recorded a 9.6 percent rise over 2022 with turnover reaching 9,227,995,765 euros. Respective turnover in 2022 stood at 8,421,363,364 euros.

Source: ELSTAT

Overall in 2023, the greatest increase in turnover compared to 2022 was recorded in the regional units of Zakynthos (21.7 percent) and Halkidiki (19.4 percent). Marking decreases were the regional units of Mykonos down by 10.9 percent and by 3.0 percent on Santorini.

In terms of annual turnover for F&B services providers, the regional units of Corinthia (21.3 percent) and Zakynthos (21.0 percent) reported the greatest increase compared to 2022 with a 2.9 percent decrease recorded on Mykonos.

Overall, 2023 turnover for both accommodation services and F&B services providers came to 18,911,578,292 euros, marking a 9.9 percent rise over 2022 and the respective 17,214,467,122 euros in total turnover.

The best performing regional units were those of Zakynthos (21.5 percent) and Halkidiki (16.4 percent), with decreases reported in the regional units of Mykonos (-8.1 percent) and Santorini (-2.1 percent).

Meanwhile, in the last quarter of the year (Q4 2023), accommodation activity turnover amounted to 1,315,040,025 euros, up by 14.2 percent compared to Q4 2022 and 1,151,321,445 euros.

Best performers in Q4 were the regional units of Kos marking a 28.6 percent rise while the smallest increase (3.8 percent) was recorded in the regional unit of Kefalonia.

Decreases in the same quarter were recorded on Santorini down by 2.7 percent and Mykonos (-1.7 percent).

In Q4 2023, F&B activities generated a total of 1,979,722,478 euros in turnover, marking a 6.3 percent rise over Q4 2022 and 1,861,816,389 euros.

The biggest increase in the turnover in Q4 2023 over the same quarter in 2022 was reported in the regional unit of Corfu (12.5 percent) while the smallest increase (2.2 percent) was seen in the regional unit of Rethymno. The biggest decrease was recorded in the regional unit of Magnesia (6.0 percent).