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December 13, 2019

Greek travel agency market turnover growing

Tourism and travel companies in Greece continued to see their turnover grow last year, a trend that started in 2016, according to a sector survey published on Wednesday by ICAP.

With incoming tourism coming to a record 30.1 million visitors last year – excluding cruise passengers – the 3,500 tourism and travel agencies in Greece posted a 9 percent expansion in total market size in 2018 compared to 2017.

The 28 percent annual increase in outgoing tourism has also contributed to this, with Greek citizens making 795,000 personal trips abroad in 2018.

A special section of the survey monitored a sample of companies for the period from 2013 to 2017, with enterprises that deal with incoming tourism showing a 30 percent increase in sales and 14 percent growth in profits over that five-year period.

The sales of companies involved in outgoing tourism posted a 62 percent rise over the same period, while pretax profits more than doubled.

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