Hotel Market Beat 2023 Q1 - Greece
C&W Hospitality Market Beat – Greece Q1 2023While the Greek hospitality industry is facing staff shortages and rising operational costs, the sector continues to show remarkable recovery after the pandemic. According to the Bank of Greece, the tourism sector in Greece experienced a surge in activity during Q1 2023, with international visitor arrivals soaring by an impressive 74.7% compared to the same period in 2022. the turnover of hospitality enterprises grew by 28.6% in Q1 2023 (year-on-year), to reach €375 million, with Thessaloniki-based enterprises recording the highest increase at 70.9%. Similarly, restaurant businesses reported a 27% increase in turnover, totalling €1.5 billion during the same period.