Market Report Greece

GBR Consulting Reports Greek Hospitality Industry Performance 4th Quarter 2017 (PDF Download)

Greek Tourism Exceeded Expectations in Terms of International Arrivals In 2017
A town in Greece overlooking the sea
Greek Hospitality Industry Performance 4th Quarter 2017

It is estimated that a total of 27.2 million international travellers (excluding cruise passengers) visitedGreece during 2017, which is 1.2 million more than the target set at the beginning of 2017 by the GreekTourism Federation. They spent a total of € 14.2 billion, representing an increase of 11.2% compared to2016, when a total of € 12.8 billion was recorded. However, this is slightly lower than the target of € 14.4billion.

Travel receipts from the main source markets of Germany, France and the United Kingdom increasedsignificantly with 32%,17% and 12% respectively based on data up to November 2017. The expenditureof the Americans increased by 4.8%, while receipts from Russian travellers dropped by 3.2%.

In 2017 international arrivals at Greek airports increased 8.6% y-o-y in 2017 and arrivals by roadincreased by 6.1% y-o-y in 2017.

Available data shows that overnight stays increased only slightly faster than the arrivals, resultingin a very small increase of the average length of stay, namely 7.0 nights in 2017 compared to 6.9 in2016. Last but not least, both the average spent per arrival and the average spent per overnight stayincreased by just 1% during 2017.


According to the GBR Consulting barometer for 2018 hoteliers are very optimistic for 2018. About 60%of the city hoteliers is expecting increases of 2% and more in occupancy levels, while about 70% isforecasting that the room rates in the market will improve with at least 2%.

The resort hoteliers also expect an excellent season this year with significant improvements for bothoccupancy levels and room rates.

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