New market study, "Greece Tourism Report Q3 2016", has been published

Greece is home to one of the largest tourism markets in Europe and attracts millions of visitors annually to its range of island beach resorts, popular city breaks and extensive historical and cultural attractions. The government is highly supportive of the tourism industry and is investing in a range of measures to arrest the decline in arrivals seen in the wake of the ongoing migrant crisis and Greece's economic troubles. These measures look set to be successful, particularly in light of the fall in travel to competing destinations such as Turkey and Egypt, and we are forecasting steady growth in international arrivals to Greece over the next few years. While the maturity of the market means that opportunities in the hotel sector are relatively few , there is some development in the luxury segment , and as visitor numbers increase - boosting tourism expenditure and industry value - we expect to see continued investor interest in this popular market.

Full Report Details at
- http://www.fastmr.com/prod/1182769_greece_tourism_report_q3_2016.aspx?afid=301

Key Updates And Forecasts

While a number of airlines are expanding flight routes to Greece, including British Airways, which is launching new flights to Kalamata and Chania in summer 2016, Greece has come under criticism from leading budget airline Ryanair, which has announced it will cut summer season flights to Greece two months earlier than usual due to disputes relating to tourism taxes.

The tourism ministry reports that there have been 160 applications for the development of new four- and five-star hotels so far in 2016 and more may be added over the next few years - though we note the introduction of increased VAT on hotel stays (from 6.5% to 13%) may affect bookings.

We are maintaining our forecasts for steady annual growth in arrivals to Greece between 2016 and 2020, with the inbound tourism market expected to grow from 18.2mn in 2016 to 19.9mn by the end of the forecast period. This will have a positive effect on tourism-related expenditure - a key component of national revenue in the country.

The Greece Tourism Report has been researched at source and features BMI Research'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.

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