Greek tourism has set a new revenue record this year, with a strong demand for trips to Greece during autumn. This high demand in October and November supports estimates that travel receipts will exceed 20 billion euros and foreign visitor arrivals will reach 35 million by year-end.
The largest European travel agency, TUI AG, has extended its operations in Greece until mid-November due to the strong demand for autumn holidays, particularly from markets like Germany and the UK. As a result, TUI has added over 30,000 airline seats for flights from the UK to Greece and Turkey.
TUI has also reported an 8% increase in demand for October compared to last year. In a regular analyst update, TUI shared that it served 13.7 million international bookings this summer, a 5% increase from the previous year and close to pre-pandemic levels. Additionally, data from the Bank of Greece shows that travel receipts for the first seven months of this year amounted to 10.321 billion euros, a 13.21% increase compared to the same period in 2019.
Compared to the first seven months of 2022, travel receipts have risen by 20.2%, matching the 21.9% increase in foreign traveler arrivals to Greece, according to TTE data. These figures only account for one of the three most profitable months for Greek tourism. Data for August and September will confirm this upward trend, though at a slower pace.
A survey conducted by Mindhaus on behalf of the European Travel Commission revealed that the pleasant climate and attractive offers are the top two factors influencing destination choices for European travelers. Specifically, 18% prioritize pleasant weather conditions, while 17% consider attractive offers.
The impact of extreme events in the aftermath of the devastating fires in Rhodes earlier this year is evident. Airline seats to the island were reduced by 1.5% in July and another 1.5% in August. TUI experienced a two-week booking freeze during that period. Additionally, the summer heatwave affecting Mediterranean destinations led to a 1.5% shift in demand from the European South to the European North, particularly for travelers from Northern and Central Europe.
TUI AG CEO Sebastian Ebel has noted substantial winter travel demand. Despite a 4% increase in package holiday prices, TUI’s winter bookings have seen a 15% year-on-year growth.
