Greece Tourism Report Q3 2014
Jun 27, 2014 - Business Monitor International - 53 pages
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BMI's tourism report for Greece looks at the potential for growth in this well-established European tourist destination. Despite domestic economic uncertainty, the future is looking positive for tourism, with healthy increases expected in the number of annual tourist arrivals to Greece. While the growth in outbound travel will be more subdued, overall we expect to see solid gains in both tourism-related expenditure and industry value.

Greece has long been one of the most popular holiday destinations in Europe, with a range of beach destinations as well as cosmopolitan cities and a multitude of cultural and historical attractions making it a prime destination for both short-stay visitors and long-stay package vacations. As one of the more affordable destinations in Western Europe, the market has tended to remain stable despite the wider economic downturn in the wake of the financial crisis, and moving forward we expect to see annual growth in arrivals of around 5% per year. By the end of the current forecast period in 2018, therefore, we expect that the number of arrivals to Greece will reach 19.9mn, up from 15.8mn in 2013. Greece's European neighbours will continue to dominate the top 10 source markets, and diversification here would benefit the industry by making it less susceptible to any economic downturn in the eurozone.

As with inbound travel, the majority of travellers from Greece are headed to destinations in Europe, which accounted for 3.7mn out of a total 3.8mn outbound travellers in 2013. Overall outbound growth is limited by the stagnant domestic economy, which is expected to show only minor GDP growth in 2014, while high unemployment rates will continue to limit the ability of people to travel abroad.

At present, Greece is expected to keep up with the increases in demand, both in terms of inbound and outbound travel. The hotel and accommodation sector is very well developed, with a range of budget options available across the country. Transport...

The Greece Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Greece Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Greek tourism industry.

Key Benefits
  • Benchmark BMI's independent tourism industry forecasts for Greece to test other views - a key input for successful budgetary and planning in the Greek tourism market.
  • Target business opportunities and risks in the Greek tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Greece.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage

BMI Industry View

This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.

BMI Industry Forecast Scenario

Forecasts to end-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

Inbound tourism: Arrivals (‘000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).

Outbound tourism: Departures (‘000), growth (% y-o-y), departures by regional destination (‘000 and growth % y-o-y).

Travel: Methods of travel for arrivals (Air, Ship, Rail), (‘000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).

Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (‘000), (growth % y-o-y), total overnight stays, (‘000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (‘000), (growth % y-o-y).

Industry Risk Reward Ratings

BMI’s Tourism Industry Risk Reward Ratings provide a country-comparative Risk Reward Ratings index aimed at investors (tour operators, tourism infrastructure investors, financial institutions) in the regional tourism market.

The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

We also have Security Risk Reward Ratings which provide a detailed assessment of possible threats to the country (and by extenuation to the tourism industry), ranging from economic and political upheaval, to terrorist attacks and organised crime levels.

Market Overview

This contains a comprehensive overview of the tourism industry in the country, its overall value, the value of its hotels industry, trends in the hotels industry and any new developments. It also contains an evaluation of the top 10 global hotel groups’ presence in the country, which brands are present in which cities, the number of hotels and any planned developments and strategies. The Market Overview also considers the tourism infrastructure developments in the country, in particular transport infrastructure projects such as ports and airports. Tables are also included from our regularly updated Key Projects Database, which contain details of projects, their value, the time frame, their current status, the companies involved and their estimated completion dates.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape.

The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.


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About the Publisher
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.