By Alexia Sotiriou

 

 

35 million foreign tourists visited Greece in January-November 2024, boosting tourism revenues to 21.27 billion euros, according to data announced by the Bank of Greece (BoG).

 

More specifically, the travel balance showed a surplus of 18.768 billion euros, compared to a surplus of 18.064 billion euros in the corresponding period of 2023. Travel receipts increased by 999.6 million euros or 4.9%, reaching 21.267 billion euros, while an increase of 295.7 million euros or 13.4% was also observed in travel payments, which amounted to 2.499 billion euros.

 

Average expenditure per trip lower by 5.4%

 

According to BoG, the increase in travel receipts is due to higher inbound travel traffic by 9.7%, as the average expenditure per trip decreased by 5.4%. Net receipts from the provision of travel services offset the deficit in the goods balance by 57.8% and contributed by 84.2% to total net receipts from services.

 

The increase in travel receipts is mainly attributed to higher receipts from residents of the EU-27 countries by 6.3%, totaling 11.714 billion euros, as well as higher receipts from residents of other countries by 0.5%, totaling 8.454 billion euros. More specifically, receipts from residents of the euro area countries amounted to 9.256 billion euros, up 3.5%, while receipts from residents of EU countries outside the euro zone also increased by 18.5%, reaching 2.457 billion euros.

 

As for the country of origin, receipts from Germany soared by 3.5% to 3.646 billion euros, while receipts from France decreased by 11.7% to 1.246 billion euros. Receipts from Italy rose by 13.0% to 1.207 billion euros. Among the remaining countries, receipts from the United Kingdom dropped by 3.9% to 3.145 billion euros, while receipts from the United States climbed up by 13.3% to 1.528 billion euros. On the contrary, receipts from Russia fell by 53.3% to 14.6 million euros.

 

Greek Chamber of Hotels’ initiative for hospitality

 

 

2025 is a historical milestone in the development of Greece’s hotel industry, said Alexandros Vassilikos, the president of the Hellenic Chamber of Hotels (HCC) .

 

This year, the chamber celebrates the 90th anniversary of its establishment and operation as an institutional advisor to the Greek state on tourism issues and it remains committed to further upgrading its institutional role for the benefit of the industry.

 

The initiative “Hospitality with Value for All”

 

The importance of hospitality must reach politicians as well as citizens. To this end, the chamber is undertaking the initiative “Hospitality with Value for All.” The initiative is structured around four thematic topics – the contribution of hospitality to development and social cohesion, the consolidation of the inclusive principles and values of an open society represented by hospitality, the contribution to sustainability, which is a major challenge of our time, and the support of employment, as the largest employer in the private sector.

 

Vassilikos pointed out that “we honor the 90 years of the Hellenic Chamber of Hotels with an initiative that combines the history we have gone through with the better future we want. It is our responsibility to lay the foundations today for the next 90 years. To meet the challenge of the new Greece of the next century, it is necessary to preserve our virtues and address our weaknesses. We have achieved a lot as a country and as a people. That is why it is important to focus on issues where we have proven our success, where hard work, creativity, and dedicated entrepreneurship find expression, where our country wins and emerges as a leading force. This is Hospitality. Hospitality with Value for All, Hospitality that is Greece.”

 

The hotel industry is “heavily” taxed

 

Regarding current developments in the industry and the government’s legislative moves, the leadership of the chamber pointed out that the hotel sector is one of the most heavily taxed in the Greek economy.

In this context, the return on tax measures is one of the demands of businesses, a fact that should also concern the state. The industry consists mainly of small businesses and financing according to their development requirements is a major issue. The industry seeks to make changes to improve the industry’s footprint in the economy and society for the benefit of future generations.