Industry Reports & Trends

Most Greek destinations were disappointed this summer when arrivals failed to increase as expected during the summer months. The end result, according to trade professionals, is that Greece will post an 8% drop in tourism arrivals this year. And this occurs after a difficult 2003.

Greece is now considered to be a safe destination and a modern European country by both Europeans and North Americans, according to a survey carried out by MRB, VPRC, Research International for the organizers of Athens 2004. The survey covered the first three weeks of September with a total of 3,031 participants from the U.S., the UK, Spain, Germany and France.

Global megatrends that are about to revolution-ize the tourism industry at the dawn of the third millennium were released recently by the director of Tourism Control Intelligence (France and USA), Michael Nowlis. Of the many tendencies foreseen are that the cruise industry will experience explosive growth, and that an older, better-educated population in Europe and North America will increasingly seek ecotourism and cultural travel products.

Professor Panagiotis Pavlopoulos of Research Institute for Tourism explained to the press last month that his latest study shows it is possible for the tourism sector to show a 4% annual increase even though many economists here continue to dwell on the country’s economical difficulties.

The promotion of Greece and the heavy investment in infrastructure that has taken place, thanks to the Athens 2004 Olympic Games, could push the number of foreign visitors from around the 13 million mark expected this year up to 18 million in 2010, according to an Alpha Bank study released last month.

Counting security measures, Greece has spent a bundle when compared with other Olympic hosts – at total of five billion to seven billion euros at last count – nevertheless, if Greece doesn’t recoup the expenses involved in staging the Athens 2004 Games, it will be the first in decades not to do so. With a proper strategy and good organization, countries staging the Olympic Games can reap economic benefits, and not just on a short-term basis, according to a recent study released by the Athens Chamber of Commerce and Industry.

Hundreds of flights a day seen during the first 20 days of the month of August have been bringing plane-loads of Olympic visitors to Athens, especially during the days leading up to the launch of the Olympic Games. But it’s still too early to confirm whether predictions – that the Games will not attract enough visitors to boost what has undoubtedly been a bad year for tourism – will actually come true or not.

Negative data for the months of May and June, and a severe lack of bookings for the peak summer period, have forced lodging units outside of the Athens/Attica area to slash prices in an attempt to entice Greek holidaymakers.

Prospects for travel by seniors to Greece is more than optimistic, said the head of the Research Institiute for Toruism (ITEP), Professor Panagiotis Pavlopoulos, during the recent presentation of the institute’s latest study. He said seniors are increasing in numbers as a percentage of the world’s traveling population, they have free time for travel all year around, and they have money to spend. These travelers are also culture minded. “What better destination for senior travelers than Greece?”

The Greek economy can advance and prosper in the international environment only if it develops itself to cater to up-market tourism and wealthy foreigners wishing to acquire holiday homes, said well-known investor and American fund manager, George Soros, during a recent visit to Athens. “This is virtually the only prospect that could attract foreign investment capital,” he said.