Greek tourism sector diversifying, climbing value chain

Greek tourism – one of the linchpins of the country’s economic growth – is undergoing transformation, positioning itself as a year-round destination, offering an expanded range of accommodations, growing connectivity, and a widening array of experiences for travelers.

In the last decade, hundreds of new four- and five-star hotels have opened their doors across Greece, international air connections have grown by more than a third, short-term accommodation options have more than doubled, new investments are being made in serviced accommodations, and new locations are being developed.

Recent data for the first half of 2025 show that travel receipts increased by 11% year-on-year to €7.66 billion despite only a modest 0.6% increase in tourist arrivals, according to the Bank of Greece. The growth in per capita spending – rather than the increase in number of visitors – underscore how Greek tourism is shifting towards value and away from volume.

More than 450 new four- and five-star hotels and 244 additional three-star hotels have opened in the last five years – an average of nearly three new hotels per week since 2019. Alternative accommodations such as villas, branded residences, and luxury rentals have further diversified the market, and short-term rentals now rival hotels in bed capacity.

At the same time, Greece is witnessing a trend towards increased visitor arrivals in the off and shoulder seasons. In the last two years, summer tourism – which still accounts for roughly 53% of annual travel receipts – has seen a 6.5 percentage point decline in its share of the yearly total, according to an analysis by Eurobank. The share of tourism revenue collected in the first, second and fourth quarters has grown between 1.4 and 2.9 percentage points.

Since 2000, Greece has seen a 35% increase in air connectivity compared with pre-pandemic levels, according to Airports Council International Europe. Long-haul travel is expanding: Greece now receives 12 direct flights daily from the U.S. – a record number – with new connections being added continuously.

Visitors are also traveling to more locations. Germany’s Fraport Greece, which manages the country’s 14 regional airports, has reported 19.5 million passengers between January and July, marking a 2.1% increase over a year ago, notwithstanding sharp declines at traditional tourism hotspots like Santorini and Mykonos.