Alpha Bank Projects Record-breaking Year for Greek Tourism in 2024

Photo source: Visit Greece

Alpha Bank forecasts that 2024 is poised to be a record-breaking year for Greece’s tourism sector, based on promising data from the first half of the year.

Citing Bank of Greece data, Alpha Bank’s report shows that tourist arrivals in Greece increased by 15.5 percent and tourism income rose by 12.2 percent during the first half of 2024, compared to the same period in 2023, which had already set record highs.

July performance

July continued this positive trend, with significant growth in tourist arrivals. Athens International Airport saw a 10.8 percent increase in arrivals, while regional airports across Greece experienced a 3.6 percent rise compared to July 2023.

Greece shines on social media

Greece continues to make a strong impression on social media, ranking among the top five European countries for positive mentions. The country is particularly celebrated for its rich culture and gastronomy. Additionally, Greece’s excellent weather, especially during the spring months, and its unparalleled “beach-sea experience” are frequently highlighted by travelers.

High satisfaction ratings

Visitor satisfaction in Greece remains exceptionally high, with a general qualitative index score of 9.2 points, compared to the European average of 8.9 points. Athens closely follows with a satisfaction score of 9.1 points.

Declining average tourist spending

Despite these positive indicators, average tourist spending in Greece has decreased. For instance, average spending dropped from 681.30 euros in the first half of 2021 to 570.70 euros in the same period this year. This decline is attributed to shifts in consumer behavior due to inflationary pressures and the rise of the “sharing economy”. Notably, the number of tourists using electronic platforms for room rentals increased by 21.1 percent last year and by 32 percent in the first quarter of 2024.