Published on : Thursday, March 14, 2019
Greek tourism which represents a fifth of the country’s GDP, grew at a rate of 6.9 per cent last year. Considering the national economy which grew by two per cent, the tourism sector outshone over three and a half times.
Tourism led to the creation of around one million jobs intending that one quarter of all employment in Greece is focused on tourism. Last year one in every five euros spent in Greece saw contribution from the tourism sector which was worth €37.5 billion.
The sector shows strong economic recovery and is known to outperform its previous peaks. During the height of economic performance before the financial crisis Greece still employed less people in tourism than they did in 2018.
For the GDP contribution the same was true, it never amounted to 20 per cent of the total GDP.
WTTC president Gloria Guevara was hugely impressed by the Greek growth rate, and the government strategies that have spurred it on.
She said that tourism has had a huge role to play in driving Greek economic recovery, and is a chief employer of people. The nation was an exemplary case study of how valuable an asset tourism can be when the government prioritises the sector.
World Travel & Tourism Council’s annual review of the economic impact and social importance of the sector presented the figures.
In 2018 the Greek sector reaped benefits from €18.5 billion in international visitor spending, this represented 27.9 per cent of total exports.
The spending was majorly driven by the leisure travel and two -thirds of inbound Greek travel spend came from international visitors, and one-third from domestic travel.
The minister of tourism of the Hellenic Republic, Elena Kountoura said that due to their long-term strategy being implemented since 2015 has led to top results in the country’s tourism growth. It supported the Greek economy during difficult years of crisis.
The targets to create new jobs, business activity, new source of income and mobilizing new tourism investments was achieved.