Bank of Greece: Tourism to Remain Key Driver of Greek Economy | GTP Headlines
The Bank of Greece expects tourism to continue supporting Greece’s economy, citing strong visitor demand, an extended tourism season and expanding source markets. Tourism is expected to remain one of the main. . .
The Bank of Greece expects tourism to continue supporting Greece’s economy, citing strong visitor demand, an extended tourism season and expanding source markets. Tourism is expected to remain one of the main drivers of Greece’s economic growth over the coming years, with theBank of Greecepointing to longer tourist seasons, expanding source markets and continued momentum in cruise tourism as key factors supporting the sector’s outlook. The assessment is included in the central bank’s latest “Note on the Greek Economy” report, which forecasts thatGreece will continue to outpace the eurozone in economic growthdespite an uncertain international environment. The report estimatesGDP growth of 1. 9 percentin both 2026 and 2027, before accelerating to2. 0 percent in 2028, supported by private consumption, investment and exports. Tourism continues to support growthThe Bank of Greece identifiestourismas one of the sectors continuing to underpin economic activity, alongside investment, private consumption and net exports. The report notes that employment continued to grow during the first half of 2026, withdemand for workers strengthening in tourism, manufacturing and services. It also highlightsstrong hiring in hotels and restaurants, which helped drive net private-sector employment gains in May. According to the report, travel receipts increased by41. 8 percentduring the first four months of 2026, while inbound visitor arrivals rose27. 1 percent, underscoring tourism’s continued contribution to the economy. The central bank also notes thattourism remained resilient in Aprildespite geopolitical uncertainty in the Eastern Mediterranean, with travel receipts and arrivals continuing to post year-on-year growth. Broader travel trends reinforce outlookBeyond the latest economic data, the report points to a range of tourism indicators that continue to support Greece’s outlook. It cites research by theEuropean Travel Commission (ETC)placing Greece amongEurope’s five most popular destinations for summer 2026, reflecting sustained demand for Mediterranean holidays. The report also refers to continued growth in international air travel, noting that international arrivals at Greek airports increased duringthe first half of the year, whileAthens International Airport (AIA)also recordedhigher international passenger traffic. Looking ahead, the Bank of Greece expects tourism to remain a structural pillar of the economy. It says the continued extension of the tourism season, the opening of new source markets and sustained growth in cruise tourism are expected tofurther boost travel receipts from 2027 onwards, supporting Greece’s services balance and overall economic performance. The central bank nevertheless warns that the outlookremains subject to risks, including geopolitical developments, persistent inflationary pressures and broader international economic uncertainty, although it expects Greece’s economy to continue expanding at a faster pace than the eurozone in the coming years. FollowGTP Headlines on Google Newsto keep up to date with all the latest on tourism and travel in Greece.