Greece Leads Europe in Tourist Spending Increase for Q2 2024

Athens, Greece

Greece recorded a substantial 25 percent increase in travel expenditure by foreign travelers during the second quarter of 2024 compared to the corresponding pre-pandemic period, according to data from the European Travel Commission (ETC).

The latest edition of the “European Tourism Trends & Prospects” quarterly report shows that Greece, along with Spain, leads the list of European countries with the most significant increases in inbound spending (travel receipts) between April and June, compared to 2019.

Italy ranks third with a 20 percent increase in travel expenditure, followed by France with a 16 percent rise compared to 2019, according to ETC data.

Source: ETC

Europe’s tourism continues recovery

Overall, Europe’s tourism industry continued its recovery in the second quarter of 2024. Both foreign arrivals and overnights surpassed 2019 figures by 6 percent and 7 percent, respectively, reflecting a year-on-year increase of 12 percent and 10 percent. This growth is driven by robust intra-regional travel from Germany, France, Italy, and the Netherlands.

Year-to-date data indicates that both traditional and non-traditional Southern European and Mediterranean destinations remain the most popular choices for tourists in Europe. Notable increases in arrivals compared to 2019 levels were recorded in long-standing favorites including Malta (+37 percent), Portugal (+26 percent), and Türkiye (+22 percent), as well as lesser-known destinations such as Serbia (+40 percent) and Bulgaria (+29 percent).

Source: ETC

“The ongoing success of these destinations is partially due to their common offer of value-for-money experiences and generally favorable weather conditions,” according to the ETC.

The Nordic countries also show growing appeal, with foreign overnight stays up in Denmark (+38 percent), Norway (+18 percent), and Sweden (+9 percent), indicating increasing success outside Southern Europe and in destinations that are relatively more expensive.

Conversely, the Baltic region continues to struggle, with Latvia (-24 percent), Estonia (-16 percent), and Lithuania (-15 percent) still experiencing international arrivals well below 2019 levels.

Challenges remain

Source: ETC

Rising costs of accommodation, business operations, air ticket prices, and staff shortages are significant challenges that continue to affect Europe’s travel sector, according to tourism professionals.

Based on the study’s findings, visitors are expected to spend 800.5 billion euros in Europe this year, an increase of 13.7 percent from last year. The accommodation sector particularly benefitted in the first half of the year, with revenue per available room up 5.4 percent and occupancy rates up 1.8 percent.

In addition to the increased spending recorded by Spain, Greece, Italy, and France, other countries such as Croatia, Bulgaria, and Romania are expected to see longer average stays in 2024 compared to the previous year, which will also result in increased tourism revenue.

Off-season travel

According to the ETC’s report, a growing trend is emerging where more travelers are opting for off-season travel and lesser-known destinations, driven by the search for value-for-money and unique, authentic experiences. Notably, Albania and Montenegro have seen a remarkable rise in market share, up 86 percent and 31 percent respectively since 2019.

Regarding the effects of climate change, the report mentions that if the high temperatures and wildfires recorded in 2023 in countries such as Greece and Turkey persist this year, tourists may shift to peak summer destinations like Croatia and Malta, where temperatures are relatively lower.

Additionally, the climate crisis and extreme weather events may further influence traveler behavior, leading to a greater dispersion of travel over time. The so-called “shoulder months”—the months preceding or following the peak demand season—are expected to gain a larger share of tourists compared to the traditional peak season.