The World Travel Market, the largest tourism exhibition, which took place in London from Tuesday Nov. 5 concluded on Thursday, Nov. 7 with a positive note for Greek tourism. According to the President of the Hellenic Hoteliers Federation, early bookings for the following year show a significant increase compared to the same period last year.
However, it is highlighted that this increased demand could stem from the fact that tourists may be seeking cheaper vacations and taking advantage of the pre-booking period to secure lower prices offered by hotels. The actual impact of this trend will become clearer in the coming months, the president adds.
Currently, many hotels are offering room rates discounted by 20-25% or even higher. Nevertheless, for hoteliers, the bottom line is what remains in the cash register, meaning that an aggressive discount strategy may ultimately affect overall profitability.
The Hoteliers president also expresses his concerns regarding fluctuations similar to this year’s, July and August revenues compared to the same months in 2023, which are likely to persist in coming years, as continuous growth is unsustainable.
Additionally, the rising cost of tourism packages is causing some concern. This increase is partly due to new charges, including the climate change levy (+50% compared to last year) and the higher overnight stay tax.
Despite these challenges, demand for Greece in 2025 remains strong. It is noted that 2024 will close with record-breaking arrivals and revenue.
According to the Institute of the Greek Tourism Confederation (INSETE), from January to September 2024, there were 22.6 million international air arrivals, surpassing the 20.9 million in the same period in 2023.
During the same period, 10.3 million international arrivals by road were recorded, up from 9.0 million in 2023, marking an increase of +14.5%.
Moreover, data from the Bank of Greece show that from January to August 2024, tourism revenue rose by +3.2% compared to the same period in 2023.
