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Greece Tourism Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 30 pages

Includes 3 FREE quarterly updates

BMI View: Greece is home to one of the largest tourism markets in Europe and attracts millions of visitorsannually to its range of island beach resorts, popular city breaks and extensive historical and culturalattractions. The government is highly supportive of the tourism industry and is investing in a range ofmeasures to arrest the decline in arrivals seen in the wake of the ongoing migrant crisis and Greece'seconomic troubles. These measures look set to be successful, particularly in light of the fall in travel tocompeting destinations such as Turkey and Egypt, and we are forecasting steady growth in internationalarrivals to Greece over the next few years. While the maturity of the market means that opportunities in thehotel sector are relatively few, there is some development in the luxury segment, and as visitor numbersincrease - boosting tourism expenditure and industry value - we expect to see continued investor interest inthis popular market.

Key Updates And Forecasts

- While a number of airlines are expanding flight routes to Greece, including British Airways, which islaunching new flights to Kalamata and Chania in summer 2016, Greece has come under criticism fromleading budget airline Ryanair, which has announced it will cut summer season flights to Greece twomonths earlier than usual due to disputes relating to tourism taxes.

- The tourism ministry reports that there have been 160 applications for the development of new four- andfive-star hotels so far in 2016 and more may be added over the next few years - though we note theintroduction of increased VAT on hotel stays (from 6.5% to 13%) may affect bookings.

- We are maintaining our forecasts for steady annual growth in arrivals to Greece between 2016 and 2020,with the inbound tourism market expected to grow from 18.2mn in 2016 to 19.9mn by the end of theforecast period. This will have a positive effect on tourism-related expenditure - a key component ofnational revenue in the country.

Table Of Contents

Greece Tourism Report Q3 2016
BMI Industry View 5
Table: Key Forecasts (Greece 2013-2020) 5
Industry Forecast 9
Table: Inbound Tourism (Greece 2013-2020) 13
Table: Tourism Receipts (Greece 2013-2020) 15
Table: Hotel Accommodation (Greece 2013-2020) 17
Table: Tourist Departures And Consumption (Greece 2013-2020) 18
Industry Risk/Reward Ratings 19
Industry Risk/Reward Index 19
Table: Western Europe - Risk/Reward Index 19
Rewards 20
Risks 20
Security Risk 21
Market Overview 22
Competitive Landscape 25
Domestic Hotel Groups 25
Table: Domestic Hotel Groups 25
International Hotel Groups 26
Table: International Hotel Groups 26
Methodology 27
Industry Forecast Methodology 27
Risk/Reward Index Methodology 28
Table: Weighting Of Indicators 30

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