Greece tourism market is set to record a healthy CAGR of 7.5% from 2022 to 2032

Friday, January 13, 2023

The global Greece tourism market is expected to generate a revenue of US$ 548.0 million by 2032, scaling up from US$ 265.9 million in 2022.

The target market is set to record a healthy CAGR of 7.5% from 2022 to 2032.

Factors such as an elevated number of travellers to Greece in 2022- around 8 million in the first half of the year- account for the thriving tourism industry in Greece.

The country’s popularity as a global heritage site, rich culture, and magnificent views further aid the growth of the Greece tourism market during the forecast period.

Greece, popular for its green valleys and lush forests, is a famous tourist destination. Apart from the magnificent view, the country is also famous as a heritage site and for its rich culture.

Greece also has excellent nightlife and all of these considerations, along with its beautiful mountains and exotic beaches, attract travelers from all over the world.

Greek tourism, thus, caters to both: those who want to experience a quiet time on the beaches and those who want to enjoy an active party lifestyle.

Many tourists also want to experience the feel of an exotic European location. These attributes strive to create a thriving environment for tourism in Greece.

The country’s cultural and traditional aspect also contributes to a prosperous tourism market. Its cultural richness is displayed through its rural environment and its uniqueness also entices travellers.

Moreover, its rich history is quite appealing to historians, associated enthusiasts, and amateurs.

The recent development of different sectors of Greece’s economy also bolsters its tourism revenue and is anticipated to continue this trend. Further, the diverse delicacies and cuisines in the country attract a significant number of culinary aficionados.

Beginning with the popular Moussaka to traditional meatballs, the culinary specialties of Greece also present its culture and local cuisines in a very appealing manner to tourists from all over the world.

Additionally, other tourism activities like medical tourism, destination tourism, religious tourism, ecotourism, and others continue to attract huge amounts of tourists to the country.

All of these factors will stimulate the Greece tourism market during the forecast period.

Key Takeaways:

Rich history supported by young enthusiasts is expected to spur the demand for the Greece tourism market during the assessment period.

A dearth of tourism infrastructure may hamper the growth prospects for Greece’s tourism market.

In terms of age group, the 36 to 45 category will likely account for a considerable share of 29.5% of Greece tourism.

Based on tour type, independent travelers will hold about 30.8% share in Greece tourism as a result of greater penetration of the internet and advancements in technology.

Online booking channels will also make a substantial contribution to the overall market growth as it is convenient and expedite the booking process.

Competitive Landscape

Leading market players are focusing on employing strategies that will assist with attracting particular demographic consumers.

A few of these market participants offer discounts on tour packages and in-advance reservations.

These businesses also employ various growth strategies to retain a competitive edge.

More Insights into Greece Tourism Market

In its latest report, FMI offers an unbiased analysis of the global Greece tourism market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032.

To understand the global market potential, growth, and scope, the market is segmented on the basis of age (under 18, 18 to 25, 26 to 35, 36 to 45, 46 to 55, over 55), visit purpose (business and professional, leisure, recreation, and holidays, healthcare, religious travel, others), demographic (male, female, kid), nationality (domestic, international), tour type (corporate, family, couples, youth groups, single tourists), tourism type (religious tourism, cultural/ heritage tourism, medical tourism, others) and region.

According to the latest FMI reports, based on segmentation, the 36 to 45 age group is anticipated to dominate the global marketplace.

With a market share of 29.5%, this segment comprises primarily of the working-class population and has the ability to take foreign tours.

The 36 to 45 age group will be closely followed by the 46 to 55 segment. In terms of tour type, single tourists or young couples with access to the internet and advancing technology will lead the market growth.

In short, the popularity of Greece as a historically rich, heritage site with diverse cuisine and beautiful vistas will propel the Greece tourism market forward during the forecast period.

Greece Tourism Market by Category

By Age:

Under 18

18-25

26-35

36-45

46-55

Over 55

By Visit Purpose:

Business & Professional

Leisure, Recreation & Holidays

Healthcare

Religious Travel

Other

By Demographic:

Male

Female

Kid

By Nationality:

Domestic

International

By Tour Type:

Corporate

Family

Couples

Youth Groups

Single Tourists

By Tourism Type:

Religious Tourism

Cultural/Heritage Tourism

Medical Tourism

Others

Table of Content

1. Executive Summary

    1.1. Greece Market Outlook

        1.1.1. Who Is Travelling?

        1.1.2. Travel Gross Bookings

        1.1.3. Travel Gross Revenue

        1.1.4. How Much Do They Spend?

    1.2. Greece Tourism Evolution Analysis

    1.3. FMI Analysis and Recommendations

    1.4. GDP Share by Sector

2. Consumption Trends in Greece Tourism

    2.1. Websites used for Destinations Research

        2.1.1. Online Travel Agency

        2.1.2. General Search

        2.1.3. Travel Review Sites

        2.1.4. Travel search engines/apps

        2.1.5. Vacation rental site

        2.1.6. Other Players

    2.2. Website used for Comparing and Choosing Travel Products

    2.3. Preferred Website for travel Booking

    2.4. Opportunities from New Courses

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