Greece’s Real Estate Market: A Brief History
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Greek tourism continues to shine and set new records, echoing in the data that’s recently been made public.
On the World Tourism Day on September 27th, Eurostat spotlighted Europe’s tourism sector, emphasizing its magnetic appeal to non-EU tourists. And in this success story, Greece plays a pivotal role.
Amongst the top ten global tourist destinations, six are EU members, with Greece taking a proud spot.
Greece dominates Eurostat rankings
Eurostat’s data reveals that Greece showcased impressive numbers, with international tourists making up 84% of all tourism-related overnights.
Greek Tourism shines even brighter in 2023
Building upon the incredible achievements of 2022, Greece is gearing up for an even more remarkable year in 2023 in terms of attracting international tourists.
Recent data from the Bank of Greece show a promising landscape. In July alone, the country’s travel balance reported a surplus of 3.884,7 billion euros, amounting to a staggering 8.941,5 billion euros from January to July 2023.
Moreover, revenues saw an uprising by 15.1% in July 2023 compared to 2022, and a 20.2% increase was observed from January to July 2023. Impressively, this year’s earnings (10.3 billion euros) soared 13.2% higher than the record-breaking year of 2019, which registered 9.11 billion euros. Specifically, July’s income hit 4.1 billion euros, surpassing the 3.7 billion euros recorded in July 2019.
Record Year for Greek Airports in 2023
The year 2023 is not just a banner year for tourism in Greece, but it’s also shaping up to be a record-breaking year for passenger traffic at its airports.
Over the eight-month span in 2023, across all airports in the country – including Athens’ “Eleftherios Venizelos”, 24 airports managed by HCAA, and 14 regional airports under Fraport Greece’s administration – passenger traffic has shown significant growth. Compared to similar periods in 2022 and 2019, the numbers soared, surpassing a landmark 50 million passengers, with September also registering high levels.
Specifically, for the eight months from January to August 2023 in Greece, the total passenger traffic at these airports – encompassing both international and domestic arrivals and departures – reached 50,152,145. This is a significant jump from 43,788,675 in 2022 and 44,895,202 in 2019. These statistics indicate a growth of 14.5% in passenger traffic compared to 2022 and an 11.7% increase from the 2019 figures.
For those eager to seize this unique chance for profits, Astrea offers the expertise and guidance to make smart investments with high returns. Contact Astrea today and harness the advantages of wisely investing in the Greek real estate landscape.
