Greece Tourism Report Q2 2015

Feb 19, 2015 - Business Monitor International - 59 pages - USD $1,295
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We believe that over the short term, Greece's tourism industry will suffer from the political uncertainty, as potential risks of domestic unrest deter visitors. Moreover, the continued economic pressures and high unemployment will constrain domestic tourism and outbound tourist departures considerably. That said, should Greece exit the EU we would anticipate a surge in tourism numbers as the probable return to the drachma would make holidays in Greece attractively cheap. Finally, towards the end of 2015 and in the first part of 2016, we expect that the passing on of lower fuel prices to consumers by airlines will boost the wider tourism flows across Europe, and Greece could be a key beneficiary of this trend.

The finance ministers failed to come to an agreement in their previous meeting on February 11, and both sides did not even make a joint statement following the talks. Greek Prime Minister Alexis Tsipras maintains Greece wants to agree a 'bridging loan' to be put in place until August, while a new deal is agreed to replace the current troika bailout. The eurozone lenders say Greece must agree an extension of its current bailout deal, which expires on February 28. We do not think either side will come to an agreement in talks within this deadline. Instead, the best that can probably be hoped for is that both sides agree to a further set of meetings over the coming weeks. Both sides are taking an increasingly hard-line stance in the talks to boost their bargaining position, implying that progress towards any agreements will be sluggish at best. Nevertheless, we still think some form of compromise agreement will be reached, giving Greece and the troika more time for discussions over renegotiating the country's current bailout. Over the long term, we believe Greece will manage to extract some concessions from the troika lenders, with debt maturities on Greece's debts being extended as part of a renegotiated bailout package. This will do just enough...



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-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
  • Inbound Tourism: Total arrivals (‘000 and growth % y-o-y), arrivals by region (‘000 and growth % y-o-y), arrivals by country (‘000 and growth % y-o-y), top 10 source countries for arrivals.
  • Outbound Tourism: Total departures (‘000 and growth % y-o-y), departures by regional destination (‘000 and growth % y-o-y), departures by country (‘000 and growth % y-o-y), top 10 destination countries.
  • Travel & Receipts: Methods of travel for arrivals (air, ship, rail) (‘000 and growth % y-o-y), international tourism receipts for transport (USDbn and growth % y-o-y), international tourism receipts for travel items (USDbn and growth % y-o-y).
  • Hotels: Hotel industry value (USDbn and growth % y-o-y), number of hotels (‘000 and growth % y-o-y), total overnight stays (‘000 and growth % y-o-y), length of stay, occupancy rate (%), number of total
BMI’s Tourism Risk Reward Index

BMI’s Risk Reward Indices provide investors (tour operators, tourism infrastructure investors, financial institutions) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards.

Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

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.

Competitive Landscape

This section provides insight into key domestic players in the hotel industry, discussing, for example, the number of hotels, brands, financial data, geographical spread, recent developments and strategies of individual companies.

Sources
The Tourism Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reprts instead contain information on the current activities of prominent companies operating in the market.


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BMI Research 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. Through 'Total Analysis,' their unique, reflexive approach linking macroeconomic, industry and financial market analysis, they help clients gain unparalleled insight across 24 industries and 200 global markets.