Athens Among Europe’s Top Tourist Destinations

June 3, 2024

Athens Among Europe’s Top Tourist Destinations

Athens ranks sixth among Europe’s most popular destinations this summer, according to data released by ForwardKeys based on flight searches.

This summer, Athens has risen to the forefront, securing its place among the top ten most popular tourist destinations in Europe. From the iconic Parthenon standing proudly on the Acropolis to the bustling markets of Monastiraki, the city offers a unique tapestry of cultural treasures, vibrant neighborhoods, and unparalleled culinary delights.

Join us as we explore why Athens is the place to be this summer and how Urban City 44 Astrea is set to redefine urban living, offering unparalleled benefits for those looking to invest in the thriving short-term rental market.

Leading Cities on the Tourist Map

According to data, Athens ranks among London, followed by Paris, Barcelona, Istanbul, and Rome. Completing the top ten destinations are Lisbon, Madrid, Milan, and Mallorca.

Comparing Trends and Shares

Comparing with 2023, based on flight searches conducted from January to April for the summer period, Athens loses one percentage point, holding a 2% share of total searches for flights to Europe. London appears to benefit significantly from this year’s Olympic Games held in Paris.

Return to Pre-Pandemic Travel Levels

According to the travel information company, a full return to pre-pandemic travel levels is observed this summer across Europe. The company also notes that many cities appear with lower shares because they managed to recover quickly last year after the COVID-19 pandemic.

Increased Passenger Traffic at Athens Airport

It is worth noting that according to the latest data from Athens Airport, in April there was a 16.3% increase in passenger traffic compared to April 2023, reaching 2.49 million passengers. International passengers were 1.79 million compared to 1.47 million last year, with an increase of 21.7%, while domestic passengers were 688 thousand compared to 660 thousand last year, with an increase of 4.1%.

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Hotel Industry Performance is rising in Athens

Additionally, data provided by the Association of Hoteliers of Athens, Attica, and Argosaronic for the four-month period shows that occupancy was at 69% compared to 64% in 2023.

The average room rate (ADR) increased by 7% (to 110 euros from 103 euros), while revenue per available room (RevPar) reached 76 euros compared to 66 euros in the four-month period of 2023, marking an increase of 15.1%.

Urban City 44 Astrea’s Housing Complex in the Heart of Athens

A new housing complex, located in the heart of Athens, presents an exciting opportunity for investors, particularly those interested in capitalizing on the rising demand for short-term leases.

Situated in a prime location, Urban City 44 offers easy access to Athens’ main attractions, business districts, and public transport.

Athens’ popularity as a tourist destination, combined with its status as a business hub, has led to a growing demand for short-term rental properties. Urban City 44 is well-positioned to meet this demand, offering investors the potential for high occupancy rates and lucrative returns.

Get in touch with Astrea today to learn more about how you can take advantage of this outstanding investment opportunity.

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