Optimistic about his course tourism during the fourth quarter of this year, as well as for the new year, however under certain conditions, the Economic Analysis Office of the National Bank of Greece appears, which predicts that the total revenues of 2022 will slightly exceed the level of 2019. At the same time, it explains why Hellas receives a share at the expense of other Mediterranean destinations.

As he notes, the first data on the tourism trend for the rest of 2022 seems encouraging. This estimate is based on a number of preliminary indicators and, in particular, the high number of seats on international flights (as opposed to road arrivals, which remain sluggish), the high number of solo traveler bookings in hotels and in the cumulative positive balance of employment in hotels.

From 17% in 2019 to 19% in 2022, the National Bank expects a new collection record this year.

“Under these circumstances, and with the dynamics of arrival spending remaining in previous months, total receipts in 2022 are expected to slightly exceed 2019 levels, while next year Greek tourism is expected to favor a broader acceleration of international tourism, which, however, coexists with elements of uncertainty that make betting on an extension of the tourist season a challenge,” characteristically states National Bank study. At the same time, he points out that two years after the start of the pandemic, Greece’s tourist receipts in January-August this year are approaching the indicators of a strong 2019 (against a 50% replenishment in the corresponding period of 2021). According to the National Bank, a key driver of these performances was the increase in arrival costs (11% higher than in 2019, with almost 2/3 of the increase estimated as a result of inflation), while the number of foreign tourist arrivals remained slightly lower than in 2019 2019 (88% of 2019), with very busy air arrivals partially offset by sluggish road arrivals. In parallel with the above effects, Greek hotel sales have been further developed, with 8M sales up 17% over 2019 sales, mainly driven by improved quality and service delivery (since a steadily growing share of 4/5-star hotels provide higher occupancy rates).

This successful course was reflected in Greece’s faster recovery than the rest of the world, outperforming even key competitors in Mediterranean Sea. In particular, for the period from January to July, Greece attracted 88% of tourists in 2019, compared to 85% in the Mediterranean and 57% worldwide. Thus, it managed to increase its share in the Mediterranean to 19% in the first 7 months of 2022, compared to 17% in 2019 (and 13% in 2013). Greece’s lead was felt mainly in the summer months, as it was the only country in Europe to record a positive increase in flights compared to 2019.