2024 was a massive year for tourism in Greece.
The National Bank of Greece estimated around 36 million arrivals into the country last year, with a 10% annual growth rate above 2023.
While the bank is yet to release Q4 data, it seems like a fair estimate given the results in the first half of the year.
The country experienced a strong start to the peak period, with a record-breaking Spring season that saw one million (up 2%) arrivals compared to Spring 2023.
The bank is also estimating that 2024 broke more records in revenue with Greece earning an estimated €22 billion (A$36.6 billion) in tourism, up 10% from 2023.
Cruise tourism is also a major contributor to the industry as a result of the hundreds of islands that make up the unique country.
In 2023 alone, cruise tourism brought in €2 billion to the domestic economy and accounted for €1 billion to its GDP, while also supporting 22,600 jobs.
“In 2024, tourism in our country not only strengthened its momentum but confirmed – for one more year – the strong position of Greece among the top travel destinations, worldwide,” said Deputy Tourism Minister Elena Rapti.
The Greek tourism industry is estimated to account for one-third of Greek GDP, according to the Institute of the Greek Tourism Confederation (INSETE).
During the Greek government-debt crisis which followed the global financial crisis of 2007, tourism was one of the most important sources of revenue for the country’s economy.
The COVID-19 pandemic in 2020 put financial pressure on economies around the world like Greece that relied so heavily on tourism.
However since 2023, the country has successfully recovered with tourism activity well surpassing prepandemic levels, says INSETE.
2025 is set to break more records with a recent report by Fitch Solutions estimating the Greek islands will welcome 34.5 million tourists, a rise of 5%.
It is also estimated that by 2028, the country will see almost 40 million tourists.
This comes as the Greek government has announced plans to expand its “Tourism for All” program for 2025, aimed at encouraging sustainable tourism practices, supporting local economies and businesses and extending the travel season to accommodate for the volume of visitors.
