Fitch Solutions forecasts indicate that Greece will likely achieve remarkable tourism figures in 2024 and the future, with an estimated figure of 40 million international arrivals by 2028, fueled by visitors from established and emerging markets, which will strengthen Greece’s position on the global stage.
However, analysts warn about the difficulties presented by overtourism, highlighting the need for infrastructure development within the Recovery Fund framework, the importance of environmentally-friendly investments, and the improvement of skills among employees in the tourism sector.
According to Fitch Solutions, Greece’s tourism sector will maintain positive momentum this year, building on its recovery to pre-pandemic levels in 2023. According to analysis, there is an estimated 5.3% increase in arrivals this year compared to the previous year, reaching 104.4% of the 2019 level. This translates to 34.5 million tourists, compared to 32.7 million in 2023 when arrivals had fully recovered to pre-Covid levels.
Based on an analytical perspective, Fitch Solutions foresees a positive outlook for 2028, with expectations of continued growth in arrivals. This growth will be driven by increased flows from both traditional and emerging markets. According to Fitch’s analysis, 39.3 million arrivals are projected by 2028, with an average annual growth rate of 3.7% over that time frame.
Nevertheless, Fitch Solutions emphasizes the importance of tackling the issue of overtourism, as it poses both opportunities and risks to Greece’s capacity to cater to the growing number of tourists. This phenomenon may result in insufficient maintenance of well-known tourist attractions and infrastructure.
For detailed information, you can purchase the Greece Tourism Report by Fitch Solutions for $1,705.00
