Kreta - January is the forecast of the expensive season?

January is the forecast of the expensive season?

data_2019-03-28 19:10:22 2019-03-28 19:10:22

After last year's record revenues, which were obtained in the Greek tourism sector, a large proportion of market analysts indicated that it would be very difficult to improve these financial results this year. The first data from this season flowing to the Bank of Greece seem to contradict these fears. The report prepared by this institution included information that in January Greek tourism recorded an increase of approximately 53% in comparison to the same month last year.

Taverns in Chania

It is worth noting at the outset that in contrast to the increase in revenues recorded in previous years this year, the main factor was not the increase in tourism. The number of people visiting Greece during this year's January was higher by less than 9.5%. It is easy to see that it is a value far below the level by which revenues increased.

Is it a light hand of tourists?

The main driving force of this year's revenue growth in the tourism sector was higher spending of tourists. On average, a single visitor in January in Greece spent about 40% more during the stay compared to the same month last year. The tourists from countries such as France and Great Britain were particularly eager to take their portfolios. In total, taking into account the increased number of people coming from these countries, the total revenues were respectively higher by about 112% and 65%.

Of course, such a good opening this year was a reason for satisfaction for the Greek government. Elena Kountour, the Tourism Minister there, hid her joy and wrote on her Twitter profile that she enjoyed the recorded increases. According to her, such good results are the success of previous plans and strategies.

Money

And the forecast of high prices?

Extending far-reaching conclusions based on January's results is not possible without knowing the structure of the tourist's statistical expenditure. Without this data, any analysis will be burdened with a large dose of guesses. Nevertheless, looking at this report from the point of view of the individual traveler, he gives a lot to think about and can fill with certain fears. We personally are most interested in whether the increased revenues in the Greek tourism industry were caused by the increase in the prices of services that constitute the largest items in the tourist budget. In particular, we mean the cost of accommodation and the price of airline tickets.

Of course, the increased spending of tourists can also be a reflection of the positive mood of consumers, who this year definitely increased the budgets of their holiday trips. Unfortunately, in a long-term perspective, this approach may also lead to an increase in the prices of individual services.

Over the next months, with interest, we will be looking for more articles devoted to this subject. If possible, we will try to share this information with you. Or maybe you have some own observations related to the upcoming season?