Greece sees record tourism, travel receipts further boosting investment trends

Greece achieved a new record in visitor arrivals and revenue last year, continuing a three-year record setting streak for the country’s tourism sector. This surge in tourism has helped Greece surpass economic growth targets, while attracting major foreign investment across various segments of the industry, from infrastructure to luxury accommodations.

According to the latest Bank of Greece data, 35.9 million tourists visited the country in 2024, an increase of 9.8% from the previous year. In terms of revenue, Greece collected €21.7 billion in tourism receipts, which is up 5.4% from 2023.

Greece’s natural beauty, its Mediterranean climate and rich cultural heritage have positioned it as one of the world’s Top 10 tourism destinations. Tourism constitutes approximately one-fifth of Greece’s economy and accounts for roughly one in five jobs.

With its string of recent tourism records, Greece has attracted significant foreign investment. Estimates indicate that around 700 new hotels have been opened or refurbished in the past five years, accompanied by approximately €12 billion in hotel investments.

A recent Deloitte survey names Athens among the Top 10 hotel investment destinations in Europe. And, according to this month’s Hotel Valuation Index by global hotel consultancy HVS, Athens leads the rest of Europe in the growth of hotel values. The index shows that last year, Athens experienced an 11.8% rise in hotel values compared with an average increase of 2.0% across Europe. The Greek capital is considered a highly attractive market for investors due to its relatively affordable hotel rates compared to other major European cities and its consistent revenue growth, the survey says.