Greek Accommodation Sector Sees 17.7% Revenue Growth in October

Greece’s accommodation sector experienced a significant revenue increase in October 2024, according to recent data from the Hellenic Statistical Authority (ELSTAT).

Specifically, revenues for accommodation businesses registered under the corporation category, which are required to maintain double-entry bookkeeping, rose by 17.7 percent compared to October 2023.

In contrast, the food and beverage services sector, which also falls under the same tax category, saw a more modest revenue increase of 5.1 percent in the same period.

Accommodation and F&B sectors see over 1 billion euros in total revenue

In absolute terms, revenues for accommodation businesses reached 908.8 million euros in October 2024, up from 771.8 million euros in the same month last year. Meanwhile, revenues for the food and beverage services sector amounted to 238.3 million euros, compared to 226.7 million euros in October 2023.

Together, the accommodation and food and beverage sectors generated over 1 billion euros in total revenue in October 2024, with a combined total of 1.15 billion euros. This marks an overall increase of 14.8 percent compared to the previous year, when the combined revenue for both sectors stood at 998.5 million euros.

Regional performance

Regionally, Corfu saw the most substantial revenue growth for both accommodation and food and beverage services, with an impressive 51.7 percent increase in comparison to October 2023. On the other hand, the Region of Attica registered the smallest growth rate, with an increase of 8.4 percent.

For the year 2023, a total of 107,185 enterprises in the accommodation and food and beverage sectors in Greece reported a combined revenue of 19.97 billion euros.