The duration of the war in the Middle East, its impact on travellers’ disposable income, and public preferences for safer or closer destinations are three key factors, in the shadow of developments in the Middle East, that will be key to the course of this year’s tourist receipts.
It is precisely this course of tourism revenues that is the big question for this year for Greek tourism, which, based on official data from the Bank of Greece, is now estimated to have contributed directly and indirectly close to 21% of the country’s GDP last year, given tourism receipts of 23.6 billion. The positive aspects of last year’s tourism season should be counted among the positive aspects of last year’s tourism season, with increased activity in months outside the traditional summer season.
The first estimate
The first estimate from the BoE’s side speaks of“further growth in 2026” in terms of receipts from travel services, mainly through the lengthening of the tourist season, the promotion of other forms of tourism and the strengthening of cruises. However, ultimately the evolution of the economic performance of Greek tourism, at this stage, is linked to developments in the Middle East, the duration of the war and what the impact will ultimately be on the incomes of Europeans, who are the main reservoir of inbound tourism for the country and whether they will eventually choose destinations closer to their place of residence for the summer, as happened during the pandemic period. “Although Greece is not at the centre of the developments, its geographical position and its interconnection with markets in the Eastern Mediterranean and the Gulf make it indirectly exposed to the relevant disturbances”, the BoG notes.
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