The Greek Islands remain the engine of Greek tourism, as they achieved an increase in sales in the quarter of September, October, November compared to the corresponding period of 2019, i.e. the last year before the pandemic, and indeed at stable prices, while the picture with advance bookings for the current season is very encouraging. These performances even helped increase Greece’s share of the Mediterranean tourism market by one percentage point. According to a study by the Economic Analysis Department of the National Bank, international arrivals accelerated between September and November, resulting in tourist receipts exceeding 2019 figures by 1.2% (around 90% replenishment in deflated terms). ) for the same period.

The outlook for 2023 is also assessed as positive, based on preliminary indicators. According to the National Bank, there has been a gradual improvement in consumer confidence and willingness to travel internationally, despite inflation’s dampening effect on disposable income. Under these conditions, Greece is in a strong position in terms of attracting tourists: the number of early bookings is 70% higher than in 2022, and the number of scheduled flight bookings for the first weeks of March is 11% higher, indicating a lengthening of the tourist season. “With the exception of uncertainties caused by the geopolitical situation and pressure on Greek hotels due to high energy costs and labor shortages, the tourist season this year starts early and seems to have guarantees to surpass 2022,” National Bank economic analysts said.

Moreover, a study estimating the total tourism footprint for 2022 notes that it is only slightly lower than in 2019 (about 90% replenishment in arrivals and withdrawals), while during the year the replenishment rate marked a continuous improvement, from 67% on average in the winter months to 89% in spring and summer and up to 92% in autumn. Thus, while summer still accounts for 53% of arrivals (similar to 2019), the rise of autumn and especially October (up to 60% in September 2022 from 54% in 2019) creates expectations of a decrease in seasonality in the future .

Regarding the leading role of the Greek islands for tourism, it is noted that between September and November 2022 they achieved an increase in sales of their hotels by 13% compared to 2019 (at constant prices). These figures were strong enough for Greece to improve its position in comparison with other Mediterranean destinations, in particular Italy, Spain, Portugal, Croatia and Cyprus. In particular, Greek hotels absorbed 18.5% of overnight stays abroad in the Mediterranean countries (compared to 17.5% in autumn 2019), continuing the dynamics of the summer season. Thus, the study concludes, throughout 2022, Greece maintains the first place in the Mediterranean in terms of post-pandemic recovery: tourist arrivals in Greece for the whole year reached 89% compared to 82% in the Mediterranean, and overnight sales in Greece is 25% higher than in 2019, compared to 18% in the Mediterranean.