Record Breaking Projections for Greek Tourism in 2024

July 1, 2024

Record Breaking Projections for Greek Tourism in 2024

Greece’s tourism sector is poised for a record-breaking year in 2024, with over 35 million arrivals and €22 billion in revenue, according to the National Bank of Greece (NBG).

This surge in tourism offers lucrative investment opportunities, particularly in Athens, as the five most visited regions, accounting for 83.9% of total visits, were: Attica (7,888.7 thousand visits), the Southern Aegean (6,960.7 thousand), Central Macedonia (6,565.9 thousand), Crete (5,521.7 thousand) and the Ionian Islands (3,377.9 thousand).

Let’s look into the positive outlook for Greek tourism, highlighting key growth indicators and their implications for investors.

A Dynamic Start for Tourism in 2024

An annual increase of 24% sets a positive outlook for 2024, indicating strong growth momentum in the tourism sector. This early surge reflects increased interest and confidence in Greece as a top travel destination, which is expected to continue throughout the year.

Increased Air Traffic

The notable uptick in international air traffic compared to 2023 figures, including a 20% rise in spring arrivals, an 8% increase in scheduled seats for the June-October period, and a 14% boost in independent tourist bookings, signifies robust demand. This trend indicates reduced seasonality, ensuring a steady influx of tourists year-round, which is beneficial for consistent rental income and occupancy rates.

Hotel Demand is Rising

The future demand for Greek hotels is at historically high levels, reflecting strong market optimism. This high demand is demonstrated by record net hirings in the hotel industry, indicating increased bookings and higher occupancy rates, which in turn support the overall growth of the tourism sector.

Higher Revenue Per Visitor

The average revenue per tourist is projected to increase, contributing to an overall revenue growth of 10% to €22 billion. This indicates that tourists are willing to spend more, enhancing the profitability of tourism-related investments.

Invest with Astrea in Top Visited Regions

With the booming tourism sector, Athens presents a prime investment opportunity. Increased tourist arrivals and spending boost the potential for high rental yields and property value appreciation. The city’s vibrant culture, historical significance, and strategic location make it an attractive destination for tourists and investors alike.

Located in the heart of Athens, Urban City 44 offers luxurious living spaces and high rental yield potential, catering to the growing demand for short-term and luxury rentals. This project is perfectly positioned to benefit from Athens’ thriving tourism and real estate market.

Situated just 40 minutes from Athens in Loutraki, Blue Lagoon Luxury Seaside Apartments provide a perfect blend of luxury and investment potential. The proximity to the Greek capital and the allure of beachfront living make this project an attractive choice for investors seeking both high returns and a luxurious lifestyle.

Contact Astrea today to learn more about how you can take advantage of this outstanding investment opportunity.

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