Market Report Greece

HVS Market Report Greece (PDF Download)

This article constitutes an update on the current state of the Greek Hotel Market featuring the latest news regarding the performance of the Greek tourism industry and highlighting recent and upcoming changes in the country’s hotel supply.

HVS

In December 2008, we put together an article titled "The Changing Face of the Greek Hospitality Market" outlining the situation in the Greek hotel market at that time. Nearly eight years later, and after a volatile period inside and outside the country, we think it is appropriate to update our findings since we all live in ”a completely different world” which has been profoundly transformed in terms of the sense of general prosperity prevailing in the Western economies since the mid-2000s. Thus, we wonder: "Has the Greek Hospitality Market Even Changed?"

Our original article included phrases such as "Greece…one of the safest countries in the Mediterranean region and a stable economy directly linkedOur original article included phrases such as “Greece…one of the safest countries in the Mediterranean region and a stable economy directly linked with Europe” or “…These efforts will support foreign and local investors to reposition the country’s tourism industry towards a more up-market product” and “…tourism in Greece is over-dependent on tour operators for the majority of holiday makers…” While some of these sentences still remain true, the interval of nearly eight years since December 2008 – and the momentous events that occurred both on a global and national level during that period – led to the need of writing an entirely new introductory note. with Europe" or "…These efforts will support foreign and local investors to reposition the country’s tourism industry towards a more up-market product" and "…tourism in Greece is over-dependent on tour operators for the majority of holiday makers…" While some of these sentences still remain true, the interval of nearly eight years since December 2008 – and the momentous events that occurred both on a global and national level during that period – led to the need of writing an entirely new introductory note.

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