Travel and Tourism Industry in Greece @

1. Travel and Tourism in Greece to 2017
Synopsis
The report provides detailed market analysis, information and insights, including:
Historic and forecast tourist volumes covering the entire Greek travel and tourism sector Detailed analysis of
tourist spending patterns in Greece The total, direct and indirect tourism output generated by each category
within the Greek travel and tourism sector Employment and salary trends for various categories in the Greek
travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation,
retail, travel intermediaries and others Detailed market classification across each category, with analysis using
similar metrics Detailed analysis of the airline, hotel, car rental and travel intermediaries industries
Executive summary
The performance of the Greek travel and tourism sector was adversely affected by the ongoing eurozone debt
crisis. The country recorded declines in both international and domestic tourism during the review period
(2008–2012). Domestic tourism declined at a compound annual growth rate (CAGR) of 9.73%, while
international arrivals fell at a CAGR of 0.67%.
Scope
This report provides an extensive analysis related to tourism demands and flows in Greece:
It details historical values for the Greek tourism sector for 2008–2012, along with forecast figures for
2013–2017 It provides comprehensive analysis of travel and tourism demand factors with values for
both the 2008–2012 review period and the 2013–2017 forecast period The report provides a
detailed analysis and forecast of domestic, inbound and outbound tourist flows in Greece It provides
employment and salary trends for various categories of the travel and tourism sector It provides
comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries with
values for both the 2008–2012 review period and the 2013–2017 forecast period
Reasons to buy
Take strategic business decisions using historic and forecast market data related to the Greek travel and
tourism sector. Understand the demand-side dynamics within the Greek travel and tourism sector, along with
key market trends and growth opportunities. Identify the spending patterns of domestic, inbound and outbound
tourists by individual categories. Analyze key employment and compensation data related to the travel and
tourism sector in Greece.
Key highlights
According to Timetric estimates, Greece’s real GDP is expected to contract by 4.1% in 2013, before
recording a marginal growth of 0.4% in 2014. With exports growth projected at 2.5% and 4.8% in 2013 and
2014 respectively, the exports-led recovery is expected to improve investor sentiment. However, the persistent
drag of the fiscal deficit is likely to limit government consumption growth until 2016. Nevertheless, the Greek
economy is projected to grow in the range of 2.3–3.8% between 2015 and 2017, in line with recovery
in domestic demand and a positive global economic outlook. Cruise tourism, which was a EUR519.4 million
industry in Greece in 2012, is a leading contributor to the country’s tourism sector. According to data
by the Bank of Greece, cruise passenger revenues increased from EUR169 million in the first half of 2012 to
EUR185 million in the first half of 2013, at a rate of 9.5%. According to the Cruise Line International
Travel and Tourism in Greece to 2017

2. Association Europe, Piraeus port in Athens was the third-largest home port in the Mediterranean region with
1.2 million passengers in 2012. Greece is home to 17 UNESCO World Heritage sites, the most prominent of
which are Acropolis of Athens, the Archaeological Site of Delphi, the Archaeological Sites of Mycenae and
Tiryns, the Old Town of Corfu, the Sanctuary of Asklepios at Epidaurus, the Temple of Apollo Epicurius at
Bassae, and Mount Athos. Additionally, in May 2013, the country’s 393 beaches and nine marinas
were awarded the Blue Flag quality award by the Hellenic Society for the Protection of Nature. Domestic
tourism is dependent on income levels and disposable income. Austerity measures established by international
lenders had a severe impact on household incomes. According to the Hellenic Statistical Authority (ELSTAT),
pay cuts, tax hikes and falling pensions resulted in a decline in disposable income by 9.3% in the second
quarter of 2013. The government runs visa facilitation programs to attract tourists during peak seasons. For
example, a visa facilitation program was run from April to October 2013, allowing non-EU citizens from
Turkish ports to visit the Aegean Islands visa-free. The government is also considering extending visa
facilitation measures to non-Schengen countries such as Russia and China. Declining disposable income also
restricted Greeks from traveling abroad. Disposal income fell from EUR33.2 billion in the second quarter of
2012 to EUR30.1 billion in the second quarter of 2013. According to ELSTAT, the decline can be attributed to
a 13.9% reduction in salaries and a 12.4% decrease in social benefits. Aegean Airlines is the largest Greek
airline in terms of the number of passengers carried, destinations served and fleet size. The airline, which
suffered weak domestic demand and losses in 2012, launched its new route program in March 2013, including
29 new scheduled international routes. In November 2013, Olympic Air merged with Aegean Airlines and
became a subsidiary. The Greek government took steps to revive its hospitality industry. In August 2013, the
Value Added Tax (VAT) in the industry was reduced from 23% to 13%. While only a temporary measure, the
reduction is expected to help hotels and restaurant businesses. Customers are also expected to benefit as hotels
and restaurants charge lower prices for services. The positive outlook for Greece’s travel and tourism
sector is encouraging car rental companies to enter the market. In March 2013, the US-based Enterprise
Rent-A-Car, a subsidiary of Enterprise Holdings, entered Greece. The company appointed Sfakianakis Group
as its franchisee in the country; the franchise agreement will be operated by Executive Lease, Sfakianakis
Group’s leasing and renting arm. With over 2,000 islands and 11 million inhabitants, Greece presents
immense opportunities for travel companies. In October 2013, eDreams, one of Europe’s leading
online travel agencies, expanded its operations in the country. The company launched its website,
gr.edreams.com, which was customized to suit Greek customers.
table Of Contents
1 Executive Summary
2 Market Overview
2.3.1 Strengths
2.3.2 Weaknesses
2.3.3 Opportunities
2.3.4 Threats
Travel and Tourism in Greece to 2017

3. 3 Tourism Flows
3.1.1 Performance Outlook
3.1.2 Key Issues And Trends
3.2.1 Performance Outlook
3.2.2 Key Issues And Trends
3.3.1 Performance Outlook
3.3.2 Key Issues And Trends
4 Airlines
5 Hotels
6 Car Rental
7 Travel Intermediaries
8 Tourism Board Profile
9 Airport Profiles
9.1.1 Overview
9.1.2 Operator Profile
9.1.3 Routes
10 Company Profiles – Airlines
10.1.1 Aegean Airlines Sa – Company Overview
10.1.2 Aegean Airlines Sa – Business Description
10.1.3 Aegean Airlines Sa – Main Services And Brands
10.1.4 Aegean Airlines Sa – History
10.1.5 Aegean Airlines Sa – Swot Analysis
10.1.6 Aegean Airlines Sa – Strengths
10.1.7 Aegean Airlines Sa – Weaknesses
10.1.8 Aegean Airlines Sa – Opportunities
10.1.9 Aegean Airlines Sa – Threats
10.1.10 Aegean Airlines Sa – Key Competitors
10.1.11 Aegean Airlines Sa – Key Employees
10.2.1 Astra Airlines – Company Overview
Travel and Tourism in Greece to 2017

4. 10.2.2 Astra Airlines – Main Services
10.2.3 Astra Airlines – Key Competitors
10.2.4 Astra Airlines – Key Employees
10.3.1 Olympic Air – Company Overview
10.3.2 Olympic Air – Main Services
10.3.3 Olympic Air – Key Competitors
10.3.4 Olympic Air – Key Employees
10.4.1 Hellenic Imperial Airways – Company Overview
10.4.2 Hellenic Imperial Airways – Main Services
10.4.3 Hellenic Imperial Airways – Key Competitors
10.4.4 Hellenic Imperial Airways – Key Employees
10.5.1 Minoan Air Sa – Company Overview
10.5.2 Minoan Air Sa – Main Services
10.5.3 Minoan Air Sa – Key Competitors
10.5.4 Minoan Air Sa – Key Employees
11 Company Profiles – Hotels
11.1.1 Minos Beach Art Hotel – Company Overview
11.1.2 Minos Beach Art Hotel – Main Services
11.1.3 Minos Beach Art Hotel – Key Competitors
11.1.4 Minos Beach Art Hotel – Key Employees
11.2.1 Apanema Boutique Hotel – Company Overview
11.2.2 Apanema Boutique Hotel – Main Services
11.2.3 Apanema Boutique Hotel – Key Competitors
11.2.4 Apanema Boutique Hotel – Key Employees
11.3.1 Mystique Hotels And Resorts – Company Overview
11.3.2 Mystique Hotels And Resorts – Main Services
11.3.3 Mystique Hotels And Resorts – Key Competitors
11.3.4 Mystique Hotels And Resorts – Key Employees
11.4.1 Elysium Resort & Spa – Company Overview
11.4.2 Elysium Resort & Spa – Main Services
11.4.3 Elysium Resort & Spa – Key Competitors
11.4.4 Elysium Resort & Spa – Key Employees
11.5.1 Divani Collection Hotels – Company Overview
11.5.2 Divani Collection Hotels – Main Services
11.5.3 Divani Collection Hotels – Key Competitors
11.5.4 Divani Collection Hotels – Key Employees
12 Company Profiles – Car Rental
12.1.1 Europcar Greece – Company Overview
12.1.2 Europcar Greece – Main Services
Travel and Tourism in Greece to 2017

5. 12.1.3 Europcar Greece – Key Competitors
12.1.4 Europcar Greece – Key Employees
12.2.1 Lion Rental Sa – Company Overview
12.2.2 Lion Rental Sa – Main Services
12.2.3 Lion Rental Sa – Key Competitors
12.2.4 Lion Rental Sa – Key Employees
12.3.1 Budget Car Rental Greece – Company Overview
12.3.2 Budget Car Rental Greece – Main Services
12.3.3 Budget Car Rental Greece – Key Competitors
12.3.4 Budget Car Rental Greece – Key Employees
12.4.1 Avis Rent A Car Greece – Company Overview
12.4.2 Avis Rent A Car Greece – Main Services
12.4.3 Avis Rent A Car Greece – Key Competitors
12.4.4 Avis Rent A Car Greece – Key Employees
12.5.1 Executive Lease Sa – Company Overview
12.5.2 Executive Lease Sa – Main Services
12.5.3 Executive Lease Sa – Key Competitors
12.5.4 Executive Lease Sa – Key Employees
13 Company Profiles – Travel Intermediaries
13.1.1 Tourgreece Tourist Enterprises Sa – Company Overview
13.1.2 Tourgreece Tourist Enterprises Sa – Main Services
13.1.3 Tourgreece Tourist Enterprises Sa – Key Competitors
13.1.4 Tourgreece Tourist Enterprises Sa – Key Employees
13.2.1 Boutros Tours Greece – Company Overview
13.2.2 Boutros Tours Greece – Main Services
13.2.3 Boutros Tours Greece – Key Competitors
13.2.4 Boutros Tours Greece – Key Employees
13.3.1 True Greece – Company Overview
13.3.2 True Greece – Main Services
13.3.3 True Greece – Key Competitors
13.3.4 True Greece – Key Employees
13.4.1 Aegean Thesaurus Travel & Tourism – Company Overview
13.4.2 Aegean Thesaurus Travel & Tourism – Main Services
13.4.3 Aegean Thesaurus Travel & Tourism – Key Competitors
13.4.4 Aegean Thesaurus Travel & Tourism – Key Employees
13.5.1 Tour Specialist Company Greece – Company Overview
13.5.2 Tour Specialist Company Greece – Main Services
13.5.3 Tour Specialist Company Greece – Key Competitors
13.5.4 Tour Specialist Company Greece – Key Employees
Travel and Tourism in Greece to 2017

6. 14 Market Data Analysis
14.1.1 Number Of Trips And Overnight Stays
14.1.2 Number Of Overnight Stays
14.1.3 Total Domestic Tourist Expenditure
14.1.4 Average Expenditure Per Domestic Tourist By Category
14.2.1 International Arrivals By Region
14.2.2 International Arrivals By Purpose Of Visit
14.2.3 Total Inbound Tourism Expenditure By Category
14.2.4 Average International Tourist Expenditure By Category
14.3.1 International Departures By Region
14.3.2 International Departures By Purpose Of Visit
14.3.3 Number Of Overnight Stays
14.3.4 Total Outbound Tourism Expenditure By Category
14.3.5 Average Overseas Expenditure Per Resident By Category
14.4.1 Seats Available
14.4.2 Number Of Seats Sold By Passenger Type
14.4.3 Load Factor
14.4.4 Passenger Kilometers Available
14.4.5 Revenue-generating Passenger Kilometers
14.4.6 Revenue Per Passenger
14.4.7 Total Airlines Revenue
14.5.1 Hotel Establishments
14.5.2 Available Rooms
14.5.3 Room Occupancy Rate
14.5.4 Room Nights Available
14.5.5 Room Nights Occupied
14.5.6 Average Revenue Per Available Room
14.5.7 Revenue Per Occupied Room
14.5.8 Total Revenue Per Available Room
14.5.9 Total Hotel Revenue
14.5.10 Guests By Customer Type
14.6.1 Market Value By Customer Type
14.6.2 Fleet Size
14.6.3 Rental Occasions
14.6.4 Rental Length
14.6.5 Average Rental Length
14.6.6 Utilization Rate
14.6.7 Average Revenue Per Day
14.7.1 Market Value By Product Type
14.7.2 Travel Intermediaries Market Value By Channel
14.7.3 Travel Intermediaries Market Value By Destination
14.7.4 Travel Intermediaries Market Value By Customer Type
Travel and Tourism in Greece to 2017

7. 15 Appendix
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Travel and Tourism in Greece to 2017