The Greek tourism market will register a healthy CAGR of 7.5% between 2022 and 2032 | Future Market Insights, Inc.
DUBAI, United Arab Emirates, Jan. 12, 2023 (GLOBE NEWSWIRE) — Greece’s global tourism market is expected to generate revenue of $548.0 million by 2032, increasing from $265.9 million in 2022. The target market is poised to register a healthy CAGR of 7.5% from 2022 to 2032. Factors such as a high number of travelers to Greece in 2022, around 8 million in the first half of the year, explain the thriving tourism industry in Greece . The country’s popularity as a world heritage site, rich culture, and magnificent sights further help the growth of Greece’s 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 for its heritage and rich culture. Greece also has an excellent nightlife and all these considerations, together with its beautiful mountains and exotic beaches, attract travelers from all over the world. Greek tourism, therefore, caters to both: those who want to experience a quiet time on the beaches and those who want to enjoy an active and party lifestyle. Many tourists also want to experience the feeling of an exotic European location. These attributes strive to create a prosperous environment for tourism in Greece.
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The cultural and traditional aspect of the country also contributes to a thriving tourism market. Its cultural richness is shown through its rural setting and its uniqueness also attracts travelers. Furthermore, its rich history is quite attractive to historians, associated enthusiasts, and hobbyists. The recent development of different sectors of the Greek economy also strengthens its tourism revenue and this trend is expected to continue. In addition, the country’s various delicacies and cuisines attract a significant number of culinary aficionados.
Starting with the popular Moussaka to the traditional meatballs, Greece’s culinary specialties also present its local culture and cuisine in a very attractive way for tourists from all over the world. In addition, other tourism activities such as medical tourism, destination tourism, religious tourism, ecotourism, and others continue to attract large numbers of tourists to the country. All these factors will stimulate the tourism market in Greece during the forecast period.
Key takeaways:
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The rich history backed by young enthusiasts is expected to stimulate the demand of the Greece tourism market during the evaluation period.
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The shortage of tourism infrastructure may hinder the growth prospects of the Greek tourism market.
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In terms of age groups, the 36-45 age category will probably account for a considerable part of the 29.5% of tourism in Greece.
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Depending on the type of travel, independent travelers will have a 30.8% share of tourism in Greece as a result of increased internet penetration and technological advances.
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Online booking channels will also make a substantial contribution to the overall growth of the market as they are convenient and streamline the booking process.
competitive landscape
Major market players are focusing on employing strategies that help attract particular consumer demographics. Some of these market participants offer discounts on tour packages and advance reservations. These businesses also employ various growth strategies to maintain a competitive advantage.
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More information about the tourism market in Greece
In its latest report, IMF offers an unbiased analysis of the global tourism market for Greece, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the potential, growth and scope of the global market, the market is segmented into the according to age (under 18, 18 to 25, 26 to 35, 36 to 45, 46 to 55, over 55), purpose of visit (business and professional, leisure, recreation and vacation, medical care, religious travel, other), demographic data (male, female, child), nationality (domestic, international), type of travel (corporate, family, couples, youth groups, individual tourists), type of tourism (religious tourism, cultural tourism /heritage, medical tourism, others) and region.
According to the latest FMI reports, based on segmentation, the 36-45 age group is anticipated to dominate the global market. With a 29.5% market share, this segment is comprised primarily of the working-class population and has the ability to tour abroad. The 36-45 age group will be closely followed by the 46-55 segment. Regarding the type of tour, single tourists or young couples with Internet access and advanced technology will lead the growth of the market.
In summary, the popularity of Greece as a historically rich heritage site with a diverse cuisine and beautiful views will boost the tourism market of Greece during the forecast period.
Greece tourism market by category
By age:
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Under 18 years
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18-25
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26-35
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36-45
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46-55
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over 55
By purpose of visit:
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Business professional
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Leisure, Recreation and Holidays
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Health care
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religious trips
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Other
By demographics:
By Nationality:
By Tour Type:
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Corporate
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Family
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couples
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youth groups
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single tourists
By type of tourism:
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Religious Tourism
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Cultural/Heritage Tourism
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Medical tourism
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Others
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Table of Contents
1. Executive Summary
1.1. Greece Market Outlook
1.1.1. Who is travelling?
1.1.2. gross travel bookings
1.1.3. gross travel receipts
1.1.4. How much do they spend?
1.2. Analysis of the evolution of tourism in Greece
1.3. IMF analysis and recommendations
1.4. Share in GDP by sector
2. Consumption trends in tourism in Greece
2.1. Websites used for destination research
2.1.1. online travel agency
2.1.2. general search
2.1.3. travel review sites
2.1.4. Travel Apps/Search Engines
2.1.5. vacation rental site
2.1.6. other players
2.2. Website used to compare and choose travel products
23. Preferred travel booking website
2.4. Opportunities for new courses
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