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Greek tourism: Heading for record revenues

While many complained at the height of the Greek tourist season that visitors are coming but spending less, early forecasts for how this year’s tourism receipts will ultimately develop suggest that 2025 could even surpass 2024 – a year that set a historic record of €21.6 billion including cruises.


The strong performance of the US market, which continues to show impressive figures in both arrivals and spending – outperforming many European markets – and the steady growth of key European markets are two of the main positive factors this summer. Added to this are:


  1. the impact of inflation, which has increased the prices of tourist packages,


  1. a decrease in the number of road passengers from surrounding countries (traditionally low-spending),


  1. and the increase in the number of seats on scheduled airlines this autumn (not only compared to 2024, but even exceeding the levels of July-August 2025).


These factors could together lead to higher average spending and overall Greek tourism revenues this year.


Mixed picture in arrivals


The broader picture of inbound travel remains uncertain, as reflected in official figures. Arrivals increased only slightly by 0.6% in the first half of 2025, while June saw a 1.7% decline, according to data from the Bank of Greece’s travel balance sheet. Tourism officials warn that a decline in overall arrivals cannot be ruled out for the first time. Paradoxically, international air arrivals rose by 5.4% in June and 4.6% in July compared to last year. The exception is the Cyclades, where Santorini saw a 7.4% decline in international arrivals in the first seven months of 2025, but fewer than 638,000 in total.


A key third quarter


The July-August period, which is crucial for the sector, continues to send mixed signals and the sector is awaiting official data from the Bank of Greece. Traditionally, the third quarter accounts for more than half of annual tourism revenues – 54% in 2024 (compared to almost 60% in 2019). In terms of arrivals, this was 52% last year. Specifically, out of the €20.59 billion in revenues (excluding cruises), the July-August period contributed €11.07 billion.


Despite a slight weakening of seasonal patterns in 2024, the “sun and sea” model remains the main driver. In June 2025, arrivals fell by 1.7% to 4.6 million travelers, but revenues increased by 8.8% to €3.3 billion. Overall, 11.69 million travelers spent €7.66 billion in the first half of the year, an 11% increase in revenue.


Official airport data showed that by July, the number of passengers (both domestic and international) had increased by 4.7% year-on-year to 44.7 million passengers. According to the Hellenic Tourism Confederation Institute (INSETE), international air arrivals increased by 5.3% to 15.2 million passengers between January and July (+769,000 compared to 2024). In July alone, 4.9 million passengers arrived (+212,000).


Five key factors for tourism revenue in 2025


  1. More seats on planes this fall: Airline capacity to Greece continues to grow (+4.9% in September and October compared to 2024), reflecting European travelers’ preference for off-peak months.


  1. US market boom: The number of direct flights per week from the US reached 103 this summer, leading to double-digit growth. Total US arrivals to Athens reached 661,000 (+5%) in January-July, while US revenues rose by almost 30% to €704 million in the first half of 2025.


  2. Performance of other key markets: Germany shows strong revenue growth (+13.5%), while France sees fewer arrivals (-9.8%) but higher spending. The UK remains more cautious with lower per capita spending. Surprisingly, arrivals from Israel increased by 51% despite geopolitical tensions.


  3. Inflation and rising prices: With inflation in Greece at 3.7% in July, hotel prices have climbed to an average of €147 per double room (up from €142 in 2024). Higher prices may deter nearby Balkan markets as road travel from Bulgaria and Romania has fallen sharply.


  1. Changing travel mix: The decline in road travel – traditionally a low-spending segment – ​​has actually increased average travel spend. In the first half of 2025, average spend rose by 10% to €623 and in June to €682.


https://greekcitytimes.com/

WT.24

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