Greek tourism bounces again, however excessive inflation rears its head – bestinau

ATHENS — International guests are flocking again to Greece’s islands and historical monuments, elevating hopes for its important tourism trade after a turbulent two years, although the affect of excessive inflation means a return to regular should still be a way off. 

Greek tourism suffered its worst ever yr in 2020, when the coronavirus illness 2019 (COVID-19) pandemic decimated world journey. 

This yr, regardless of a deepening world cost-of-living disaster and the continued presence of the virus, officers count on the sector to usher in 80% of the report 18 billion euros ($18.4 billion) of revenues generated in 2019. 

“After two years of laborious pandemic, we’re glad to have our visitors again in a standard season,” stated Babbis Voulgaris, a hotelier on the Ionian island of Corfu. “Occupancy is excessive for our resorts. For the remainder of the summer time, we’re optimistic.” 

Tourism accounts for a fifth of the economic system and one in 5 jobs, percentages which might be even greater on Corfu. 

The sector started to recuperate final yr and is anticipated to continue to grow for the subsequent two years, in accordance with the Greek central financial institution. 

“We’re very blissful, glad,” stated Tourism Minister Vassilis Kikilias, whereas cautioning that the pandemic, financial disaster and the warfare in Ukraine made for a “a really, very troublesome” backdrop. 

Grappling with hovering vitality costs and different inflation exacerbated by the warfare, in addition to labor shortages, Mr. Voulgaris — who heads the Corfu hoteliers’ affiliation and sits on the board of tourism confederation SETE — agreed that the sector nonetheless confronted “loads of issues.” 

Michalis Minadakis, basic supervisor of the luxurious Grecotel Cape Sounio resort exterior Athens, stated vitality inflation was reaching “unbelievable” ranges. 

“Electrical energy (costs) might be 100% up, the identical for gasoline,” he stated 

Nonetheless, demand for journey was excessive and bookings for this yr had begun as early as final Christmas, Mr. Minadakis stated, with the market from Britain — historically one of many greatest for Greece — tripling in comparison with 2019. 

General, “I consider 2022 shall be even higher than 2019,” he stated. — Reuters