Greece will seek to profit from pent-up tourist demand

Significance

Despite a stronger-than-expected performance by the Greek hospitality sector during the summer months, 2021 will be a challenging year. The government hopes that it will return to pre-pandemic levels ahead of its competitors as early as next year, when the season will be officially extended to March-November.

Impacts

• A high level of uncertainty will delay new private investments in the Greek tourism sector.
• The rising number of tourists will necessitate additional infrastructure investment in 2022-23.
• An increased demand for tourism services will support the construction sector next year.