NBG: Fires, floods, disasters, inflation, costs cutting into Greece’s tourism sector

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NBG: Fires, floods, disasters, inflation, costs cutting into Greece’s tourism sectorA report on tourism by the National Bank of Greece’s economic analysis department found some blips in reports about a likely record-buster year

While there are worries that climate change and record heat would drive tourists away from Greece in coming years, the 2023 summer deadly floods fires, and temperatures took a 1.2 billion euro toll ($1.31 billion) in revenues.

That was shown in a report on tourism by the National Bank of Greece’s economic analysis department which found some blips in reports about a likely record-buster year.

An anomaly came in August which showed a 4 percent drop in revenues from the previous record year of 2019 although June and July were 6.5 percent higher and the Athens international and regional airports showed soaring numbers.

The summer from hell in some places presented scary images around the world, especially on Rhodes where tourists had to flee for their lives from fires while waiting for help that didn’t show up.

That came during a heat wave that saw temperatures go as high as 111-113 degrees and made tourists and residents alike wilt and look for respite in shade and beaches where the sand was too hot to walk on.

The combination of fires and floods cost Greece some 300,000 arrivals in August, which drove the month down from the previous two months with stories resonating about the troubles.

The downturn continued into September although the Tourism Ministry was pitching people to come year-round, a strategy that was working to some degree into the autumn and winter bookings.

Overall, the disasters likely deprived Greece of another 500,000 foreign visitors although there were hopes the number could still surpass 31 million people and bring in some 20 billion euros ($21.88 billion) in revenues.

That’s crucial as tourism is the country’s biggest revenue engine and generates up to 20 percent of the annual Gross Domestic Product (GDP) of 221.61 billion euros ($242.385) filling state coffers during a recovery.

The report also notes that inflation led to tourists spending less or the bonanza would have been even bigger but 2023 still has been a banner year in arrivals and Greece is one of the top destinations in the world for foreign visitors.

Read more at thenationalherald.com

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: athenswalk

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