Greece Sets New Tourism Revenue Records

Greece is on track for yet another record-breaking year in tourism in 2025, despite ongoing labor shortages in the sector, Greek Tourism Minister Olga Kefaloyani said on Sunday, according to AFP and BTA. In an interview with the Greek news agency ANA-MPA, she expressed confidence that the country’s tourism industry will continue its strong performance.

From January to the end of September, Greece welcomed 31.6 million visitors, a 4 percent increase compared to the same period in 2024, according to Bank of Greece data published in late November. In total, 40.7 million tourists visited the country in 2024, marking a 12.8 percent increase from 2023. The growth has been fueled by the appeal of Greece’s Aegean islands and its archaeological sites, with tourism revenue consistently reaching new highs since the Covid-19 pandemic.

Despite the positive figures, there are ongoing concerns about overdevelopment on certain islands, particularly Santorini, which has seen rapid construction growth. Extreme weather events such as heat waves and wildfires also remain a threat to the industry. Prime Minister Kyriakos Mitsotakis has prioritized tourism since taking office in 2019, aiming to support economic recovery following Greece’s financial crisis.

Tourism remains a major pillar of the Greek economy. According to the Institute of the Association of Greek Tourism Enterprises (INSETE), it contributed directly to about 13 percent of GDP in 2024 and indirectly to more than 30 percent. Kefaloyani expressed optimism about 2026, citing early positive indicators.

However, the sector continues to struggle with a shortage of workers, a challenge affecting many European countries. Another pressure point has been the growth of short-term rentals in central Athens, which has driven up property prices and made housing less accessible for local residents. To address this, Prime Minister Mitsotakis announced an extension of the existing ban on new short-term rentals in central Athens, aiming to curb uncontrolled growth in the city’s housing market.