Greece Tourism Report Q2 2016
BMI View: Traditionally, Greece has been a popular and well established holiday destination due, in nosmall part, to its favourable climate, excellent beaches and historical importance. This has produced a welldevelopedtourist sector. Over the past few years the country has experienced a significant fall in touristarrivals as sustained economic insecurity and the recent refugee crisis have deterred many potentialvisitors. We do, however, forecast growth for the tourism sector over the short- and mid-term, as manytourists look to exploit the favourable exchange rates brought about by Greece's financial problems. Thisgrowth will also be strengthened by tourists who may have previously visited destinations in the MiddleEast but now look to Greece as a similar option with a lessened threat of terrorism.
Greece has a strong accommodation sector, comprising of many of the major international hotel chains, andgood travel links with important source markets throughout Europe and further afield however, newdevelopment in both areas will be important as tourist numbers begin to pick up once more. This increase indemand could lead to potential investment opportunities. Greece has recently toughened its border controlin the light of the vast number of migrants attempting to access Europe through the country and this couldnegatively affect the growth of tourism by persuading holiday makers to choose alternative destinations.
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