The course of GDP and private consumption in the main markets of Greek tourism is expected in 2025 to range – in real terms – at the same or slightly higher levels (about +1%) compared to 2024, according to the report by the Institute of Association of Greek Tourism Entrepreneurs (INSES) “developments in the world economy and countries of origin of incoming tourists in Greece”.

A greater increase is expected in US GDP (about +2%) and mainly in the GDP of neighboring Balkan countries (about +3%), a development that is expected to boost by road tourism. Inflation in the eurozone has returned to 2%, which will probably lead the ECB to reduce interest rates. Despite the significant geopolitical turbulence, oil product prices, which have a decisive impact on the cost of transport, remain under control.

Consequently, based on the latest report by the Institute and unexpectedly, the macroeconomic environment in 2025 is expected to affect the demand for tourism services in Greece in 2025.

The most important uncertainty about economic developments internationally, and especially in the US, is the degree and speed of implementation of the announced macroeconomic and commercial policy of the new US government and their international impacts. In particular, the further recovery of European economies is influenced by these potential “unconventional” policies, to the extent that they relate to the EU-20 and in particular Germany, either directly or indirectly, for example through the depreciation of Yuan.

At the same time, European economies remain vulnerable to the evolution of the political crisis in France and Germany and their impact on public economics and the development of these countries, as well as the uncertainty from the war in Ukraine.

For two of our three most important purchases in terms of revenue, the US and the UK, the expected increase in interest rates between the dollar and the English pound on the one hand and the euro, on the other hand, is expected to lead to the two coins against the euro, favoring the euro, favoring the euro. The attraction of tourists from these countries.

On the occasion of the publication of the report, Elias Kikilias, General Manager of INSES, said: “Economic developments in the global economy and especially in the main countries of origin of our visitors have a direct impact on tourism demand. Continuous monitoring of macroeconomic developments and perspectives is considered necessary for the early diagnosis of changes and the realization of corrective moves. Competitiveness, durability, sustainability and adaptation are the prerequisites for Greek tourism to maintain its strong position in the world tourism market, amid an unstable and changing international environment. “

As for the developments and prospects in the economies of certain main markets of incoming tourism in Greece, the following are summarized:

Euro zone

Greece has received from incoming tourism from the euro zone countries around € 9.1 billion in 2023 (43% of all revenue, including the cruise).

Revenue from the euro zone in the first months of 2024 amounted to € 9.3 billion, increased by +3.5% compared to the equivalent of 2023, while international air arrivals from the eurozone airports For the total of 2024 they increased 9.0% compared to 2023.

In 2025, eurozone GDP increase is estimated by 1.2% (IMF: 1.2%), from 0.7% in 2024 (IMF: 0.8%). Private consumption is expected to increase by 2025 by 1.1%, compared to 0.7% in 2024.

Germany

Greece has received about € 3.6 billion from incoming tourism from Germany in 2023 (17% of all revenue, including the cruise).

Germany receipts in the first eleven months of 2024 amounted to € 3.6 billion increased by +3.5% compared to the equivalent of 2023, while international airline arrivals from Germany’s airports for the total of 2024 They showed an increase of 8.8% compared to 2023.

Despite the very high restructuring in Germany in adverse geopolitical and economic circumstances, its GDP recovery is expected by 0.8% in 2025 (European Commission: 0.7%), against a marginal decline of -0.05% in 2024 (IMF : 0.0%). Private consumption is expected to increase by 2025 by 0.7%, compared to 0.2% in 2024.

France

Greece received from France from incoming tourism from France about € 1.4 billion in 2023 (7% of total revenue, including the cruise).

France receipts for eleven first months of 2024 amounted to € 1.2 billion reduced by -11.7% compared to the equivalent of 2023, while international air arrivals from France for the total of 2024 They increased 5.1% compared to 2023.

France’s GDP is expected to increase by 2025 by 1.0% (IMF 1.1%) against 1.2% in 2024 (IMF: 1.1%). Private consumption is expected to increase by 2025 by 1.0% and 2024.

Italy

Greece has received about € 1.1 billion from incoming tourism from Italy in 2023 (5% of all revenue, including the cruise).

Italy receipts for the first months of 2024 amounted to € 1.2 billion increased by +13% compared to the 2023 of the corresponding eleven months, while international air arrivals from Italy’s airports for the total 12.6% compared to 2023.

The expected increase in Italy’s GDP in 2025 is 1.2% (IMF: 0.8%) against 0.7% in 2024 (IMF: 0.7%). Private consumption is expected to increase by 2025 by 1.0%, compared to 0.3% in 2024.

United Kingdom

Greece has received from the United Kingdom inbound tourism of about € 3.3 billion in 2023 (16.7% of all revenue, including the cruise).

The UK receipts in the first eleven months of 2024 amounted to 3.1 billion euros by -3.9% compared to the corresponding eleven months of 2023, while international air arrivals from UK airports for the whole 2024 increased 7.2% compared to 2023.

For 2025, the UK GDP is expected by 1.2% in 2025 (IMF: 1.4%), from 0.8% in 2024 (IMF: 1.1%). Private consumption is expected to increase by 2025 by 1.0%, compared to 0.7% in 2024.

USA

Greece received about € 1.4 billion from incoming tourism from the US inbound tourism in 2023 (7% of the total).

US revenue in the first eleven months of 2024 amounted to 1.5 billion euros increased by +13.3% compared to the corresponding eleven months of 2023 while international air arrivals from US airports for the total of 2024 presented Increase 24.2% compared to 2023.

US GDP is expected to increase in 2025 by 1.9% (IMF: 2.2%) from 2.8% in 2024 (IMF: 2.8%). Private consumption is expected to increase by 2025 by 2.1%, compared to 2.6% in 2024.