WTTC study: Greek tourism sector growing at 3.5 times the pace as nat'l economy; accounts for 1/5 of total GDP

Thursday, 14 March 2019 19:21
UPD:19:32
INTIME NEWS/ΒΑΡΑΚΛΑΣ ΜΙΧΑΛΗΣ
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By L. Karageorgos
lkar@naftemporiki.gr

Greece’s all-important tourism sector is growing three and a half times faster than the still low single-digit Greek economy, according to a new study by the World Travel & Tourism Council (WTTC).

The study also notes that the tourism sector in the east Mediterranean country accounts for a whopping one million job spots, in a total population of 11 million.

Specifically, the tourism and travel sector in Greece grew by 6.9 percent in 2018, compared to the previous year, significantly exceeding the roughly 2 percent GDP growth rate posted by the national economy.

Moreover, WTTC reported that the holiday industry in Greece corresponds to one-fifth of the country’s GDP (20.6 percent), double the global average (10.4 percent). In absolute terms, travel and tourism revenues in the country reached 37.5 billion euros in 2018. 

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