The success of Greek Tourism in recent years is based on a solid product: all data we have at the Institute point to customers having a very good experience, better than in competitive destinations. Key drivers of this success are the hospitality of Greek people working in the tourism industry and at large, gastronomy, natural resources, a feeling of safety and, last but not least, good quality accommodation.

The strength of the Greek tourism product together with the resilience that Greek tourism has shown during both the Greek debt crisis and during and after the COVID pandemic crisis, as well as the political, foreign exchange and lately economic stability, has led to an increased interest by investors in the sector. This has been fueled by Greek Sovereign Bonds acquiring an investment grade again and by growth in the country exceeding that of most European countries. It is manifested by numerous investments, acquisitions, and developments in the hotel sector, as well as in the airports.

Investors bring with them the “brands”, and this has also happened in Greece with numerous brands -from all spectrums- entering the market and dispersing across the country. According to data released by GBR Consulting*, the penetration of branded hotels in Greece has grown from 89 units / 14,869 rooms in 2018 to 160 units / 26,540 rooms in 2023 – an increase of approximately 80% in five years for both metrics. We expect that this trend will continue and strengthen so long as the investment interest is maintained, as the existing pipeline of investments shows. It should be noted that in addition to branded hotels, there is a strong presence of brands owned by tour operators.