Extra million tourists set to come to Greece this year

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Greek tourism is projected to record an all-time high in terms of arrivals this year. However, no one is yet able to predict whether that positive development will also be reflected in tourism revenues or if the phenomenon observed last year will be repeated, with a rise in visitors but a drop in takings.

In a meeting with reporters on Wednesday the president of the Hellenic Hotel Federation and next chief of the Greek Tourism Confederation (SETE) Yiannis Retsos said that this year the occupancy rate and the number of nights spent by tourists at hotels will post new highs. Such is the optimism of hoteliers that they speak of as many as 1 million more visitors this year than in 2016.

However, Retsos avoided any speculation on the revenues expected, saying that the bookings made, concerning 50 percent of hotel room capacity, were offered on discounted rates. Still, revenues of 14.5 billion euros are considered feasible for this year.

The tourism industry is going to wait till July before making any safe forecasts on the revenues’ front.

For SETE, the next major challenge will concern the arrangement of bad loans involving hotel units, Retsos added.

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