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German tourists boost Greek tourism to a new record

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Greece is setting a record in tourism and Germans are playing a key role in this. 2024 is proving to be an excellent year for Greek tourism. With new record arrivals and revenues, Greece has established itself as one of the world's most popular destinations. German tourists are a key factor in this success, not only increasing the number of visitors, but also significantly boosting the Greek economy.

German holidaymakers: the driving force behind Greek tourism

German tourists set a new record in 2024 (from January to October 2024): over 5.2 million Germans visited Greece, an increase of 14.9% compared to the previous year. The spending of German visitors is particularly noteworthy: they spent a total of €3.61 billion in Greece, an increase of 3.9%.

Countries of origin of tourists in Greece ( in millions)
January - October
Country of origin of tourists in Greece 2023 2024	2023	2024	Change (%)
Germany	4,5	5,2	14,9
United Kingdom	4,5	4,4	-2,2
Italy	1,7	1,9	10,3
France	1,8	1,9	7,3
USA	1,3	1,4	7,9

Source: Bank of Greece

 

Countries of origin of tourism revenues (amounts in EUR billion)
January - October
Country of origin of tourism revenues	2023	2024	Change (%)
Germany	3,5	3,6	3,9
United Kingdom	3,3	3,2	-1,3
USA	1,3	1,4	10,1
France	1,4	1,3	-10
Italy	1,0	1,2	15,7

Source: Bank of Greece

Why do German tourists love Greece so much?

• Variety: From the historical monuments of Athens to the idyllic Cycladic islands and the diverse beautiful landscapes of the Peloponnese and Crete - Greece offers an incredible variety of holiday experiences.

• Hospitality: The warm hospitality of the Greeks contributes significantly to the country's positive image.

• The friendly hospitality of the Greek people contributes to the positive image of Greece: Despite rising prices, Greece still offers very good value for money compared to other European destinations.
• Accessibility: The numerous direct flights from German cities to Greece throughout the year make the country a very attractive destination.

 

Greece as a real estate market: an attractive investment

The growing interest of Germans in Greece is not only limited to tourism. Many Germans decide to buy property in Greece, either as a holiday home or as an investment option. Many holidaymakers, fascinated by the Mediterranean lifestyle and dreamlike landscapes, decide to buy their own property.

Reasons for the increasing demand for property in Greece

• Increasing demand for holiday properties: especially in popular holiday regions such as the Ionian Islands, Cyclades, Peloponnese, Crete and Halkidiki, the demand for apartments and holiday homes by German buyers has increased.
• Safe investment.
• High rental yields.
• Second home: Many Germans see Greece as their second home and want to spend part of the year here.
• Tax advantages: Greece offers attractive tax conditions for foreign property owners, especially for retirees.

 

German investors focus on Greece

In addition to private investors, a growing number of institutional investors are also showing increasing interest in the Greek market. German investors recognise the potential of the Greek real estate market, particularly in the tourism and renewable energy sectors, and are making a significant contribution to its development. The increasing demand for tourist properties, combined with high rental yields, make Greece an attractive investment option.

Reasons for German investment in Greece

• Stable economic situation: Greece has made significant progress in stabilizing and further developing its economy in recent years.
• EU membership: as a member of the EU, Greece offers a secure investment environment.
• Future trends: The focus on sustainable tourism and renewable energy makes Greece an attractive location for future-oriented investments.

Perspectives

The positive development of the Greek tourism and real estate market is expected to continue. Growing demand for holiday properties and the increasing number of German investors underline Greece's potential as an attractive location.

 

Challenges and opportunities

Despite the positive developments, the Greek tourism and real estate market also faces challenges. These include climate change, preserving cultural heritage and ensuring sustainable development.

 

Conclusion

The close ties between Germany and Greece are stronger than ever. German tourists and investors play a key role in the development of the Greek economy. The future of the Greek tourism and real estate market looks promising.