Sector near 2019 GDP contribution by the top of 2023 – Journey & Tourism jobs to succeed in pre-pandemic figures
The World Journey & Tourism Council’s (WTTC) 2023 Financial Impression Analysis (EIR) at the moment reveals the Greek Journey & Tourism sector is projected to close pre-pandemic ranges this 12 months.
The sector is about to contribute €39.2 billion to the Greek economic system by the top of 2023, solely 4% behind the 2019 pre-pandemic excessive of €40.8 billion.
WTTC can be forecasting that the sector will create greater than 17,000 jobs this 12 months, reaching the 2019 peak of 820,000 employed by Journey & Tourism.
A glance again on final 12 months
Final 12 months, the Journey & Tourism sector’s GDP contribution grew by almost two fifths (38.2%) to succeed in almost €38 billion, representing 18.5% of the Greek economic system.
The sector additionally created 5,000 extra jobs, in comparison with the earlier 12 months, to succeed in virtually 800,000 jobs nationally.
Based on the report, the sector has now recovered 82%% of the roles misplaced through the pandemic.
Final 12 months additionally noticed the return of worldwide travellers heading to Greece, with the UK (14%), Germany (14%), and Bulgaria (10%) main as supply markets for worldwide arrivals in Greece.
Based on the info, in 2022, worldwide customer spend contributed €19.1 billion to the nationwide economic system, representing a year-on-year development of greater than 56%.
Julia Simpson, WTTC President & CEO, stated: “The Journey & Tourism sector is essential in Greece, representing greater than 19% of the economic system. Tourism is recovering strongly with excessive customer demand. Greece is certainly one of Europe’s hottest locations, and the info clearly reveals travellers are heading again of their droves. Greece took a management place through the pandemic.
“The long run for the sector in Greece is optimistic. By the top of this 12 months, the sector’s contribution will likely be virtually again to 2019 ranges. Over the subsequent decade, development will outstrip the nationwide economic system development charge and create hundreds of latest jobs over the subsequent decade.”
What does the subsequent decade seem like?
The worldwide tourism physique is forecasting that the sector will develop its GDP contribution to €57.2 billion by 2033, representing almost 1 / 4 (23.6%) of the Greek economic system.
Over the subsequent decade, Journey & Tourism may make use of greater than 1,02 million individuals throughout the nation, with one in 4 jobs supported by the sector.
Europe
In 2022, the European Journey & Tourism sector contributed €1.9 trillion to the regional economic system, simply 7% beneath the 2019 peak. WTTC forecasts the regional sector’s GDP contribution will attain €2.04 trillion in 2023 and be inside touching distance of the 2019 highpoint.
The sector employed 34.7 million individuals throughout the area in 2022, a rise of two.9 million from the earlier 12 months, however nonetheless 3.2 million behind the 2019 peak. WTTC forecasts the sector will totally get better the roles misplaced through the pandemic by the top of 2024.