As per a recent forecast by Future Market Insights, the Greece Tourism industry is projected to achieve a valuation of USD 310.9 million by 2024. Subsequent forecasts indicate a rise to USD 677.6 million by 2034, demonstrating a consistent growth trajectory. Speculated at a CAGR of 8.1% over the forecast period, this suggests sustained and steady growth within the industry.
The country’s popularity as a global heritage site, rich culture, and magnificent views further aid the growth of the Greece 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 as a heritage site and for its rich culture. Greece also has excellent nightlife and all of these considerations, along with its beautiful mountains and exotic beaches, attract travelers from all over the world.
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Greek tourism, thus, caters to both: those who want to experience a quiet time on the beaches and those who want to enjoy an active party lifestyle. Many tourists also want to experience the feel of an exotic European location. These attributes strive to create a thriving environment for tourism in Greece.
The country’s cultural and traditional aspect also contributes to a prosperous tourism market. Its cultural richness is displayed through its rural environment and its uniqueness also entices travelers. Moreover, its rich history is quite appealing to historians, associated enthusiasts, and amateurs. The recent development of different sectors of Greece’s economy also bolsters its tourism revenue and is anticipated to continue this trend. Further, the diverse delicacies and cuisines in the country attract a significant number of culinary aficionados.
Beginning with the popular Moussaka to traditional meatballs, the culinary specialties of Greece also present its culture and local cuisines in a very appealing manner to tourists from all over the world. Additionally, other tourism activities like medical tourism, destination tourism, religious tourism, ecotourism, and others continue to attract huge amounts of tourists to the country. All of these factors will stimulate the Greece tourism market during the forecast period.
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Key Takeaways:
- Rich history supported by young enthusiasts is expected to spur the demand for the Greece tourism market during the assessment period.
- A dearth of tourism infrastructure may hamper the growth prospects for Greece’s tourism market.
- In terms of age group, the 36 to 45 category will likely account for a considerable share of 29.5% of Greece tourism.
- Based on tour type, independent travelers will hold about 30.8% share in Greece tourism as a result of greater penetration of the internet and advancements in technology.
- Online booking channels will also make a substantial contribution to the overall market growth as it is convenient and expedite the booking process.
Competitive Landscape
Leading market players are focusing on employing strategies that will assist with attracting particular demographic consumers. A few of these market participants offer discounts on tour packages and in-advance reservations. These businesses also employ various growth strategies to retain a competitive edge.
Major Key Players:
- Booking Holdings Inc
- Small Luxury Hotels of the World Ltd
- Aegean Airlines SA
- TUI Group
- Thomas Cook Group
- Hellenic Seaways
- Minoan Lines
- Celestyal Cruises
- Louis Group
- Atrium Hotels
More Insights into Greece Tourism 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 global market potential, growth, and scope, the market is segmented on the basis of age (under 18, 18 to 25, 26 to 35, 36 to 45, 46 to 55, over 55), visit purpose (business and professional, leisure, recreation, and holidays, healthcare, religious travel, others), demographic (male, female, kid), nationality (domestic, international), tour type (corporate, family, couples, youth groups, single tourists), tourism type (religious tourism, cultural/ heritage tourism, medical tourism, others) and region.
According to the latest FMI reports, based on segmentation, the 36 to 45 age group is anticipated to dominate the global marketplace. With a market share of 29.5%, this segment comprises primarily of the working-class population and has the ability to take foreign tours. The 36 to 45 age group will be closely followed by the 46 to 55 segment. In terms of tour type, single tourists or young couples with access to the internet and advancing technology will lead the market growth.
In short, the popularity of Greece as a historically rich, heritage site with diverse cuisine and beautiful vistas will propel the Greece tourism market forward during the forecast period.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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