Greece Anticipates Record €22 Billion in Tourism Revenue for 2024

Greece, a member of the European Union since 1981, is poised to achieve unprecedented success in its tourism sector. Olga Kefalogianni, the country's Tourism Minister, has announced projections for tourism revenues to reach €22 billion in 2024, surpassing the previous record of €20.6 billion set in 2023.

This anticipated growth underscores Greece's position as a top global tourist destination. Kefalogianni stated, > "Greece is in the top 10 of the most popular tourist destinations in the world. We can be hopeful that revenues could reach as much as 22 billion euros."

[[Tourism Minister's Statement]]

The tourism industry, which accounts for approximately 18% of Greece's GDP and employs about 20% of its workforce, continues to be a major economic driver for the country. With over 6,000 islands and islets, of which only 227 are inhabited, Greece offers diverse attractions to visitors. The country boasts 18 UNESCO World Heritage Sites, including the Acropolis in Athens, the most visited archaeological site in the nation.

However, the surge in tourism has led to challenges, particularly in the housing sector. To address the growing housing shortage, the Greek government has announced plans to increase taxes on short-term rentals and implement a ban on new licenses in three central Athens districts for at least a year. These measures aim to encourage property owners to switch to long-term rentals, potentially alleviating pressure on the local housing market.

Greece's tourism strategy extends beyond addressing immediate challenges. The country is working to extend its tourist season beyond the summer months and manage overtourism in popular destinations like Santorini and Mykonos. With its 13,676 km coastline, the 11th longest in the world, Greece continues to attract millions of visitors annually. In 2019, before the COVID-19 pandemic, the country welcomed over 33 million tourists.

As Greece navigates the balance between economic growth and sustainable tourism, its position as the largest economy in the Balkans and an important regional investor adds significance to its tourism policies. The country's rich history, dating back over 3,400 years in Athens alone, combined with its natural beauty and cultural heritage, continues to draw visitors from around the globe, contributing to its ongoing success in the tourism sector.