The Impact of COVID-19 on Hotel Occupancy Levels in Athens and Thessaloniki
Imagine for a minute you are a hotel investor seeking after promising opportunities into developing destinations that you consider they have untapped potential. Looking back at the period 2012-19, Greek tourism was breaking one record after another. Following a nadir of 21 million that was caused to a great extent by the rumors about Greece's potential economic default and the consequent negative publicity accompanied by political instability back in 2012, foreign tourist arrivals have been constantly growing since then at a Compound Annual Growth Rate of 8.4% to reach 37 million in 2019.
By Nana Boussia and Pavlos Papadimitriou