INSETE Statistics Update for the Greek Hospitality Industry First Half 2024
INSETE Statistics Update for the Greek Hospitality Industry First Half 2024
  Tourism  |  Analysis

INSETE Statistics Update for the Greek Hospitality Industry First Half 2024

In July 2024, accommodation in short term rentals reached 232 thousand, an increase of +20 thousand compared to July 2023.
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RE+D magazine
31.08.2024

In the period January-July 2024, 14.4 million international air arrivals were recorded, surpassing the levels of January-July 2023 (13.3 million), representing an increase of +8.2% or +1.1 million arrivals.

According to INSETE statistics:

International Air Arrivals

  • In July 2024, international air arrivals reached 4.6 million, an increase of +5.3%/+235 thousand compared to July 2023.
  • The individual geographical units recorded an increase in the period January-July 2024, with the exception of the Cyclades. In particular, in Crete, international air arrivals reached 2.9 million, recording an increase of +182 thousand / +6.7%. International air arrivals at Dodecanese airports amounted to 2.4 million, an increase of +246,000/+11.4%. The Ionian Islands recorded an increase of +104 thousand/+5.3%, with a total of 2.1 million international air arrivals. In the Peloponnese, arrivals amounted to 122 thousand, an increase of +13 thousand/+12%.
  • On the contrary, the Cyclades recorded 689 thousand international air arrivals, showing a decrease of -17 thousand / 2.4%. 

Road Arrivals 

  • In the period January-July 2024, 6.3 million international road arrivals were recorded, compared to 5.5 million in the period January-July 2023, representing an increase of +13.8%/+762 thousand road arrivals.
  • In July, 2.3 million road arrivals were recorded, an increase of +277 thousand / +13.9%.
  • In the period January-July 2024, road arrivals from Albania decreased by -16 thousand (-1.7%) to 904 thousand, while the increase in arrivals from Bulgaria amounted to +383 thousand (+16.4%) with a total of 2.7 million arrivals. Similarly, arrivals from Turkey increased by +206 thousand (+38.4%) with total road arrivals amounting to 742 thousand. Finally, arrivals from North Macedonia increased by +189 thousand (+11.0%), reaching a total of 1.9 million.

  Travel receipts

  • In the period January-June 2024, travel receipts recorded an increase of +12.2%, compared to the corresponding period of 2023, reaching €6,921 million. 
  • This development is due to the increase in receipts from residents of European Union countries by +14.8%, which amounted to €3,816 million, as well as the increase in receipts from residents of other countries by +8.4% to €2,819 million.
  • More specifically, receipts from residents of the euro area countries amounted to €3,104 million, up by +11.8%, while receipts from residents of the European Union countries outside the euro area increased by +30.1% to €711 million.
  • In particular, receipts from Germany increased by +7.4% to €1,223 million, as did those from France, by +2.5% to €446 million.
  • Among the other countries, receipts from the UK rose by +19.9% to €1,009 million, while receipts from the US increased by +1.0% to €540 million.

 
Short-term rentals

  • In the first half of 2024 there is a clear trend of a steady increase in the number of accommodation units compared to 2023.
  • However, this trend is slowing down in July, which may indicate a peak in demand.
  • In July 2024, accommodation in short term rentals reached 232 thousand, an increase of +20 thousand compared to July 2023.
  • A similar pattern emerges from the analysis of the data on the number of short-term rental beds between 2023 and 2024.
  • From January to June, the number of beds increased steadily, reaching levels in June that were +85 thousand beds higher than in 2023.
  • In July 2024, this growth slowed down, with the total number of beds offered amounting to more than 1 million, an increase of +81 thousand compared to July 2023.