The Global Tourist market in Greece should generate an income of US$548.0 million by 2032, moving from $265.9 million in 2022. The target market is expected to record good 7.5% CAGR from 2022 to 2032. Factors such as a high number of travelers to Greece in 2022 – around 8 million in the first half of the year – explain the prosperity of the tourism industry in Greece.
The country’s popularity as a world heritage site, rich culture and magnificent views also contribute to the growth of the Greek 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 for its heritage and rich culture. Greece also has an excellent nightlife and all these considerations, along with its beautiful mountains and exotic beaches, attract travelers from all over the world.
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Greek tourism is therefore aimed both at those who want to spend a quiet time on the beaches and at those who want to enjoy an active and festive lifestyle. Many tourists also want to feel the ambiance of an exotic European place. These attributes aim to create a thriving environment for tourism in Greece.
The cultural and traditional aspect of the country also contributes to a thriving tourist market. Its cultural richness is expressed through its rural environment and its unique character also attracts travelers. In addition, its rich history appeals to historians, enthusiasts and amateurs. The recent development of different sectors of the Greek economy is also strengthening tourism revenues and is expected to continue this trend. In addition, the country’s diversity of specialties and cuisines attracts a significant number of culinary aficionados.
From the popular moussaka to traditional meatballs, Greece’s culinary specialties also showcase its local culture and cuisines in a very attractive way to tourists from around the world. Moreover, other tourism activities like medical tourism, destination tourism, religious tourism, ecotourism and others continue to attract huge amounts of tourists to the country. All these factors will boost the Greek tourism market during the forecast period.
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Key takeaways:
- A rich history supported by young enthusiasts is expected to drive demand in the Greek tourism market during the assessment period.
- The lack of tourism infrastructure could hamper the growth prospects of the Greek tourism market.
- In terms of age group, the 36-45 year old category will likely account for a whopping 29.5% of Greek tourism.
- Depending on the type of travel, independent travelers will hold approximately 30.8% of tourism in Greece thanks to greater internet penetration and technological advancements.
- Online booking channels will also make a substantial contribution to the overall market growth as they are convenient and speed up the booking process.
Competitive landscape
Major market players are focusing on using strategies that will help attract particular consumer demographics. A few of these market players offer discounts on tour packages and advance bookings. These companies also employ various growth strategies to maintain a competitive advantage.
More information on the Greek tourist 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 potential, growth and scope of the global market, the market is segmented according to the following criteria: basis of age (under 18 years, 18 to 25 years, 26 to 35 years, 36 to 45 years, 46 to 55 years, over 55 years), reason for visit ( business and professional, leisure, leisure and vacation, healthcare, religious travel, other), demographics (male, female, child), nationality (domestic, international), type of trip (business, family, couples, youth groups, single tourists), type of tourism (religious tourism, cultural/heritage tourism, medical tourism, others) and region.
According to the latest IMF reports, based on segmentation, the age group of 36 to 45 years is expected to dominate the global market. With a market share of 29.5%, this segment is mainly made up of working-class people and has the possibility of touring abroad. The age group of 36 to 45 years old will be closely followed by that of 46 to 55 years old. In terms of travel type, single tourists or young couples with access to the Internet and advanced technologies will be the main drivers of market growth.
In short, the popularity of Greece as a heritage site rich in history, with diverse cuisine and magnificent views will propel the Greek tourism market forward during the forecast period.
Tourism market in Greece by category
By age:
- Under 18
- 18-25
- 26-35
- 36-45
- 46-55
- Over 55 years old
By visit objective:
- Business and Professional
- Leisure, hobbies and vacations
- Health care
- Religious trip
- Other
By demographics:
By nationality:
By type of visit:
- Business
- Family
- Couples
- Youth groups
- Single tourists
By type of tourism:
- Religious tourism
- Cultural/heritage tourism
- Medical tourism
- Others
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