Greece’s First Travel Receipts of the Year Up by 309
ΤΟΥΡΙΣΜΟΣ

Greece’s First Travel Receipts of the Year Up by 309.8%

By 78 0

Photo Source: Visit Greece / Y. Skoulas

Travel receipts in Greece increased by 309.8 percent in the first month of the year generated by a 256.7 percent rise in inbound traveler flows, said the Bank of Greece releasing provisional data for January 2022.

In the same month, the balance of travel services recorded a surplus of 60.8 million euros up from a surplus of 1.7 million euros in January 2021. 

Travel receipts came to 140.1 million euros in January 2022 compared to 34.2 million euros in the same month a year ago. Receipts generated by travelers form EU countries rose by 270.6 percent to 80.1 million euros and by 373.5 percent from non-EU tourists to 59.4 million euros.

Looking at key markets, receipts from Germany rose by 227.7 percent to 21.4 million euros, from France by 486.9 percent to 5.4 million euros, for the UK by 524.8 percent to 16.4 million euros, and from the US by 3,768.9 percent to 7.0 million euros. Receipts from Russia also grew in January 2022 by 1,085.7 percent.

Central bank analysts attribute the stronger travel receipts to a 256.7 percent increase in inbound traveler flows to a total of 341.4 thousand: up by 352.3 percent through airports and by 182.9 percent through road border-crossing points, as well as to a 14.5 percent increase in average expenditure per trip. 

Photo source: European Commission

The number of inbound travelers from the EU grew by 219.6 percent and by 324.4 percent from outside the EU. The number of visiting Germans increased by 183.5 percent to 54.2 thousand in January, tourists from France increased by 424.8 percent to 15.8 thousand, the number of UK travelers rose by 483.9 percent to 33.4 thousand, and number of travelers from the US increased by 1,379.6 percent to 10.8 thousand. Incoming arrivals from Russia also rose in January by 579.3 percent to 2.2 thousand.

At the same time, net receipts from travel services offset 2.0 percent of the goods deficit and contributed 15.8 percent to total net receipts from services. Travel payments also increased by 143.8 percent to 79.3 million euros in January 2022 against 32.5 million euros a last year.

For the time being, despite the positive feedback and booking figures, Greek tourism stakeholders are reserved waiting to see the developments in the Russia-Ukraine war and on the energy and fuel market.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

Greece Sees Robust Arrival Numbers in First Months of 2022
ΤΟΥΡΙΣΜΟΣ

Greece Sees Robust Arrival Numbers in First Months of 2022

By 74 0

Photo source: HCAA

International arrivals to Greece increased sharply in the first two months of 2022, recording a 261.6 percent rise over 2021 to 2.6 million passengers against 718,330 a year earlier, said the Hellenic Civil Aviation Authority (HCAA) on Wednesday.

The two-month figure is still 37.8 percent below pre-pandemic 2019, when Greece welcomed 4.17 million passengers in the same period.

According to HCAA data, the number of flights to Greek airports in January and February rose by 75.5 percent over 2021 to 35,095 in total (22,063 domestic and 13,032 international). 

In 2021, Greek airports handled a total of 19,998 flights in the period under review, down by 16.7 percent over pre-Covid levels and 42,149 flights.

February: A winning month

In the meantime, February appeared to be a winning month for Greek airports with data showing a strong 305.7 percent increase in passenger arrivals to 1,347,795 compared to 332,200 passengers in the same month a year ago.

Greek airports recorded a total of 16,877 flights in February, 10,749 of which were domestic and 6,128 international, marking an 81.7 percent increase over February 2021 and 9,290 flights.

International arrivals up by 537.2%

Photo source: Shutterstock

Photo source: Shutterstock

International arrivals in February increased by 537.2 percent or by 321,225 passengers compared to the same month a year ago and 50,410 arrivals.

Comparing February 2022 flight data with the same month in pre-Covid 2019, the number of flights were down by 15.3 percent. 

In total, passenger traffic (arrivals and departures) in February was down by  34 percent over the same month in 2019, when there were 2,042,595 arrivals.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

Crete Favorite 2022 Destination for TUI Customers
ΤΟΥΡΙΣΜΟΣ

Crete Favorite 2022 Destination for TUI Customers

By 102 0

Knossos, Crete. Photo surce: @Visit Greece

Greece is a favorite holiday destination this summer for the customers of global leisure travel giant TUI Group, who selected Crete as the most popular destination overall, the company said this week announcing the release of its “Holiday Atlas 2022”.

Greece and Spain are the most popular holiday destinations for summer holidays in 2022 followed by Turkey, which is making a comeback, Croatia and Cyprus.

In the meantime, the Greek islands of Crete, Rhodes, Kos and Samos are among the top choices for European travelers seeking to get away this summer.

Crete was found to be the most popular destination overall, followed by Mallorca, the Canary Islands, Rhodes and Antalya. 

TUIfly Flug Palma de Malorca nach Hannover mit einer Boeing 737., den 25.9.2018

Photo source: TUI Group

In view of the strong demand for Greek destinations, particularly bookings for the Easter holidays, TUI is launching flights for the summer season in Greece earlier than before and is already departing for Crete, Rhodes and Kos at the beginning of April. 

Travelers from Nordic countries and France are mostly keen on visiting Greece, which TUI said is “continuing last year’s strong trend”.

Holidaymakers from the UK are also planning to visit Greece with the majority headed to the Turkish Riviera. Egypt is also on their wish list.

The Germans are also booking destinations in the Mediterranean, including Mallorca, Antalya, Crete, Rhodes and Kos. 

Austrian travelers are also planning to visit Greece this year as well as Antalya, Majorca, and the Croatian Adriatic coast.

Greece is also the favorite destination for TUI’s Switzerland customers who have a soft spot for the island of Kos, followed by Majorca and Antalya. 

Finns, Danes, Norwegians and Swedes will be holidaying in Greece this year with particular interest in Crete, Rhodes and Samos. Among Swedish and Finnish TUI guests, Cyprus ranks even second in bookings after Greece.

Photo source: TUI Group

According to TUI’s Holiday Atlas 2022, like last year, Greece is the top destination for French travelers who are interested in visiting the mainland and Crete. Other favorites include Sicily, the Balearic Islands and the Canary Islands.

TUI analysts note that there is “good demand” for all European countries in the last few weeks and there is a trend towards higher-value holidays with vacationers planning a higher budget for their summer holidays. 

According to company data, bookings for holidays to Turkey and Spain have doubled compared to last year.

“The trend towards short-term bookings continues and we expect summer 2022 to be close to pre-crisis levels,” TUI said.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

Leisure Travel Giant TUI Expects ‘No Impact’ of Sanctions on Business
ΤΟΥΡΙΣΜΟΣ

Leisure Travel Giant TUI Expects ‘No Impact’ of Sanctions on Business

By 84 0

TUI Group

Holiday travel giant TUI Group said this week that sanctions on the company’s largest single shareholder, Russian billionaire Alexey Mordashov, as a result of the Russia-Ukraine crisis, will have no lasting impact on business, the company, customers and employees.

“Our company is run by the executive board, like any German public limited company, and not by the shareholders or the supervisory board. We therefore assume that any restrictions or sanctions against Mr Mordashov will not have any lasting negative consequences for us as a company,” said TUI CEO Fritz Joussen in a memo to the staff.

Joussen acknowledged however that concerns over how the war will affect business were “legitimate and important”. 

CEO Fritz Joussen presented TUI Group's Q1 results during the annual general meeting in Hanover.

TUI CEO Fritz Joussen

“We are monitoring the developments intensively in order to assess possible consequences and to be able to put plans into place, if necessary,” he said, adding that TUI was no longer represented with companies in Russia and Ukraine. 

He stressed that in order to ensure the safety of customers, the company will make adjustments in some areas, such as flight routes and cruise destinations. 

“We are in contact with the employees of service providers in Ukraine who work for us and are supporting them as best we can to keep themselves and their families safe. TUI Cruises is also intensively looking after crew members from Ukraine who are employed on board our fleet of ships,” he said.

Russian shareholder resigns from TUI’s supervisory board

Russian billionaire Alexey A. Mordashov. Copyright by World Economic Forum / Sikarin Thanachaiary

Earlier this week, the EU imposed sanctions on Mordashov, who had been a shareholder in TUI AG for 15 years and holds around one third of the company. Two thirds of the shareholders are private and institutional investors and come from Germany, the EU, the UK and the US.

In response, Mordashov resigned from TUI’s supervisory board with immediate effect and formally declared the resignation of his mandate to the company. 

The EU clarified that sanctions concern Mordashov as a shareholder, not TUI AG and thus have no impact on the company.

It should be noted, that TUI is one of Greece’s main partners having pledged to double the number of its customers to Greece in 2022 over 2021. During a meeting with Greek Prime Minister Kyriakos Mitsotakis, Joussen said the company was planning on bringing some 3 million customers to Greece this year.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

Greece Year-round Travel Flows Up by 99
ΤΟΥΡΙΣΜΟΣ

Greece Year-round Travel Flows Up by 99.4% in 2021

By 86 0

Mykonos

Greece managed in 2021 to recover more than half of 2019 tourism revenues and double the number of arrivals by extending the tourism season past the traditional summer months and launching winter and city break campaigns despite the onset of the Omicron variant.

According to the Bank of Greece (BoG) report for 2021, the number of travelers choosing Greece last year increased by 99.4 percent to 14.7 million visitors over 7.4 million in 2020, generating 59 percent of pre-pandemic level revenues. Leading the way in spending were tourists from Germany, the UK, and France.

More specifically, from January to December last year, inbound traffic  through airports rose by 109.5 percent and through road border-crossing points by 69.5 percent. 

Tourism-related revenues in 2021 recovered more than half of pre-pandemic levels coming to 10.6 billion euros in total, which central bank analysts attributed to the increase in arrivals and to a 22.1 percent rise in traveler spending. 

At the same time, according to the Hellenic Civil Aviation Authority (HCAA), airports in Greece saw activity pick up in 2021 with 12-month passenger traffic up by 80.9 percent compared to the same period in 2020.

Photo Source: HCAA

In the 12-month period, the number of tourists from the EU increased by 107.0 percent over 2020 to 10.1 million while non-EU visitors rose by 84.4 percent to 4.58 million. 

The number of euro area travelers grew by 113.5 percent over 2021 with the number of non-euro area visitors up by 91.6 percent. 

A total of 4.6 million visitors to Greece last year were from outside the EU, up by 84.4 percent.

The BoG report does not include cruise passenger arrivals.

In terms of source markets: Germany took the lead with the number of incoming travelers up by 96.6 percent to 3 million, from France up by 150.5 percent to 1.2 million, from the UK up by 48.9 percent to 1.2 million, from the US by 271.6 percent to 396,000 and from Russia by 365.3 percent to 119.500.

For the last month of the year, the number of incoming travelers increased by 294.0 percent over 2020 to 380,500 in December 2021. 

A closer look for the same month reveals a 219.7 percent rise in the number of travelers from the EU and by 373.4 percent from outside the EU.

A total of 127,800 visited Greece from euro zone countries and 31,700 from outside the euro zone.  

Delphi

Delphi, Greece. Photo: GTP

Supporting Greek tourism in December 2021 were the Germans – up by 297.6 percent to 43,200 travelers and the French – up by 503.4 percent to 15,100.

Earlier this week commenting on 2021 tourism revenues, Tourism Minister Vassilis Kikilias said the outlook for 2022 was “very good”.

“For 2021, tourism revenues were forecast at 5-6 billion euros. Finally, according to the Bank of Greece, revenues came to 10.4 billion euros for 2021 and the outlook for 2022 is very good,” he said.

Speaking during the AXIA Virtual Roundtable on Tuesday, Kikilias said Greece was “the 5th tourist brand in the world. Our goal is to further improve ‘brand Greece’ with a significant addition: to establish the country as a sustainable tourist destination that offers a high quality tourism product, that respects nature and authenticity.”

“This is a huge industry. It is the locomotive of the Greek economy, contributing 25 percent to the country’s GDP,” he said.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

BoG: Greece Travel Receipts Recoup 58
ΤΟΥΡΙΣΜΟΣ

BoG: Greece Travel Receipts Recoup 58.6% of Pre-pandemic Levels

By 76 0
Acropolis Museum in Athens. Photo © Maria Theofanopoulou

Acropolis Museum in Athens. Archive photo © Maria Theofanopoulou

Tourism-related revenues in 2021 recovered 58.6 percent of pre-Covid-19 levels amounting to 10.6 billion euros, the Bank of Greece (BoG) said this week.

More specifically, according to the country’s central bank, the rise in the services surplus is almost “exclusively attributable to an improvement in the travel services balance”.

Indicatively, non-resident arrivals grew by 99.4 percent generating 10.6 billion euros in receipts up by 146.7 percent over 2020, or 46.9 percent and 58.6 percent of the respective levels in pre-pandemic 2019. Net transport receipts dropped by 6.0 percent.

Overall in 2021, the current account deficit decreased by 356.6 million euros year‑on‑year to 10.6 billion euros.

Passengers making their way to a checkpoint upon their arrival at Athens International Airport. Source: EC - Audiovisual Service / Photographer: Yorgos Karahalis

Passengers making their way to a checkpoint upon their arrival at Athens International Airport. Source: EC – Audiovisual Service / Photographer: Yorgos Karahalis

In December 2021, non-resident arrivals soared by a massive 294 percent driving tourism revenue up by 406.9 percent and recovering 60 percent (receipts) and 55 percent (arrivals) of respective levels in the same month in 2019.

The surplus of the transport balance grew mainly on the back of an improvement in the surplus of the sea transport balance.

According to BoG data, the current account deficit in December 2021, grew by 1.1 billion euros year‑on‑year to 1.7 billion euros.

Outlook positive, says tourism minister

Commenting on Greek tourism’s revenues in 2021, Greek Tourism Minister Vassilis Kikilias said the outlook for the year ahead was “very good”.

“For 2021, tourism revenues were forecast at 5-6 billion euros. Finally, according to the Bank of Greece, revenues came to 10.4 billion euros for 2021 and the outlook for 2022 is very good,” he said, adding that takings from tourism support Greek families which operate small and medium-sized businesses.

“This is a huge industry. It is the locomotive of the Greek economy, contributing 25 percent to the country’s GDP,” he said.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

CDC Revises Cruise Travel Advisory but Stills Sees ‘High’ Risk
ΤΟΥΡΙΣΜΟΣ

CDC Revises Cruise Travel Advisory but Stills Sees ‘High’ Risk

By 87 0

The US Centers for Disease Control and Prevention (CDC) has revised its guidance for cruise travel lowering the risk level but still advising travelers to make sure they are up to date with Covid-19 vaccines before boarding a cruise ship.

The CDC moved cruise travel from Level 4 “very high” risk to Level 3 “high” on Tuesday, revising its previous travel warning issued late last year which advised against travel by cruise regardless of vaccination status.

In its guidance the CDC advises against cruise travel for those who are “not up to date” with Covid-19 vaccines or for those who are at increased risk for severe illness from the virus. The agency also suggests travelers check the status of their cruise company’s crew vaccinations as well as the number of Covid cases reported on the specific ship.

In a statement, industry body Cruise Lines International Association (CLIA) welcomed the new advisory saying it was “a step in the right direction” and that it recognized the leadership and effectiveness of the cruise sector’s health and safety protocols “that are unmatched by virtually any other commercial setting”. CLIA had condemned the CDC’s earlier guidance.

Photo source: Celestyal Cruises

The American Society of Travel Advisors (ASTA) however, added that the previous warning was “completely unnecessary”.

“ASTA welcomes the CDC’s action to downgrade its extreme ‘Level 4’ warning against cruise travel, regardless of vaccination status, which we roundly criticized when it was instituted. This level of warning was completely unnecessary given the extraordinarily stringent anti-Covid measures put in place voluntarily by the cruise lines in close consultation with the CDC,” said ASTA President and CEO Zane Kerby, calling for a “consistent, predictable regulatory environment for cruise and broader travel industry stakeholders as Covid moves into the endemic phase,”

Earlier this week, the CDC updated its cruise travel guidance after adding criteria that determine risk levels for cruises.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

FinMin: Greece to Repay IMF Loans Two Years Ahead of Schedule
ΤΟΥΡΙΣΜΟΣ

FinMin: Greece to Repay IMF Loans Two Years Ahead of Schedule

By 87 0

Greek Finance Minister Christos Staikouras. Photo source: @cstaikouras

Greece’s finance minister Christos Staikouras told Reuters on Monday that the country would be proceeding with the early repayment of bailout loans to the IMF (International Monetary Fund) by the end of the month.

Repaying IMF loans two years ahead of schedule would bring the country one step closer to exiting enhanced surveillance status and help it further improve the sustainability of its debt.

“Greece has officially submitted a request for the full repayment of the outstanding balance of its IMF loans. The relevant procedure has been launched and is expected to be completed at the end of March,” Staikouras said, adding that the country is now aiming to achieve primary surplus in 2023.

According to Reuters, Greece has received more than 260 billion euros in bailout loans from the European Union and the IMF. It owes the IMF 1.9 billion euros in loans due by 2024.

Greece’s national debt is the highest in the EU at 189.6 percent of gross domestic product in 2022. 

Athens, Greece. Photo Source: Visit Greece / Y. Skoulas

The announced early repayment is expected to reduce the debt by about one percentage point and save the country approximately 50 million euros in interest rate payments.

Staikouras said that the government was working towards the country’s exit from enhanced surveillance in the summer of 2022, adding that Greece was successfully completing the reviews foreseen in the debt support program. 

“In 2022, we pursue a marked improvement in our public finances through the gradual withdrawal of support measures – as the economy returns to normality – and the increase in public revenues, which will be the result of strong economic growth, already achieved in 2021 with a ‘V-shape recovery’,” he said.

In December, the Eurogroup approved the release of 767 million euros in aid as part of Greece’s enhanced surveillance and debt support program with the Commission reporting that the country had made progress with reform implementation despite repercussions from the pandemic.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

EU Commission: Tourist Flows Lift Greece Economy in 2021
ΤΟΥΡΙΣΜΟΣ

EU Commission: Tourist Flows Lift Greece Economy in 2021

By 96 0

Photo source: South Aegean Tourism Initiative

Healthier tourist flows to Greece over the summer helped the Greek economy reclaim a significant part of Covid-19-induced losses, said the European Commission this week, forecasting overall real GDP to grow by 8.5 percent in 2021.

In its European Economic Forecast Winter 2022, the Commission is also expecting the Greek economy to expand by 4.9 percent in 2022 and by 3.5 percent in 2023, driven by investment activity mainly supported by the EU’s resilience and recovery tool.

The estimates are revised upward compared to November’s outlook from 7.1 percent growth in 2021 but downward from 5.2 percent in 2022.

Real GDP in Greece grew by 2.7 percent in the third quarter of 2021, reflecting solid export performance and improving private consumption. The industrial sector has also rebounded strongly, said the report. 

Looking to 2022, the Commission expects consumer spending to return to pre-pandemic levels, boost private consumption and in turn support growth. 

It also expects tourism to continue recovering previous losses and return to pre-pandemic levels. 

Report analysts stress however that risks remain high particularly with regard developments on the pandemic front, which can impact tourist arrivals. 

Commenting on the news, Finance Minister Christos Staikouras said the Commission forecasts confirmed “the excellent course of the Greek economy and its positive prospects”.

Greek Finance Minister Christos Staikouras. Photo source: @cstaikouras

“The country is recovering losses incurred during the health crisis; investments and exports are strengthened; unemployment is shrinking, citizens’ disposable income is stimulated… the country is achieving a stronger recovery in 2021 – the second largest in the eurozone – recouping almost all of 2020 losses,” he said.

Staikouras added that the country’s recovery is supported by high and sustainable growth for both 2022 and 2023 – the second highest cumulatively in three years, and that Greece recorded the lowest average inflation rate in the euro area in 2021.

Europe Recovering Covid Losses

For Europe, meanwhile, the Commission projects a 5.3 percent expansion in 2021, with the EU economy growing by 4.0 percent in 2022 and by 2.8 percent in 2023. Growth in the euro area is also expected at 4.0 percent in 2022, dropping to 2.7 percent in 2023. 

Source: European Commission

Source: European Commission

According to the winter report, the EU as a whole reached pre-Covid GDP levels in the third quarter of 2021 with all member states set to have passed this milestone by the end of 2022.

“As the pandemic is still ongoing, our immediate challenge is to keep the recovery well on track. The significant rise in inflation and energy prices, along with supply chain and labor market bottlenecks, are holding back growth,” said Valdis Dombrovskis, executive vice-president for an Economy that Works for People.

Dombrovskis noted, however, that the EU economy had regained all the ground it lost during the height of the crisis, thanks to successful vaccination campaigns and coordinated economic policy support, adding that unemployment had now reached a record low. 

“Looking ahead, we expect to switch back into high gear later this year as some of these bottlenecks ease. The EU’s fundamentals remain strong and will be boosted further as countries start to put their recovery and resilience plans into full effect,” he said.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP

Greece Sees High Investment Interest Through Golden Visa Program
ΤΟΥΡΙΣΜΟΣ

Greece Sees High Investment Interest Through Golden Visa Program

By 100 0

Photo source: @Athens Attica

Greece’s golden visa program, which grants five-year residency rights to investors who purchase property valued at a minimum of 250,000 euros, is attracting more buyers due to political and economic instability in their countries, Greek newspaper Kathimerini reports.

Residents of Turkey, Lebanon, India, Iran and Russia are looking to buy property in Greece and benefit from access rights to the EU.

Indicatively, according to Greece’s migration and asylum ministry, a total of 576 permits were granted to Russian buyers in 2021 up by 79 percent year on year, 304 permits to Lebanese investors up by 71 percent, and 605 to buyers from Turkey, up by 15.5 percent. In 2021, Greek authorities issued 478 new permits to Chinese investors marking an 8 percent increase over 2020.

Thanks to its strategic position and proximity to the Mediterranean and Europe, Greece is winning over investors at a time when currencies in their countries are losing ground.

According to experts cited by Kathimerini, buyers from India are also looking to buy in Greece, seeking easy access to EU and Schengen countries provided by the investor visa scheme.

The new markets are expected to mitigate losses incurred by the Covid-19 pandemic which put a stop to purchases by the Chinese who were among the top property buyers in 2019 and are now unable to travel due to coronavirus restrictions.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. ΠΗΓΗ GTP