Greece's hotel industry recorded revenues of €11.5 billion in 2024, reflecting an 8.8% increase compared to the previous year, according to the Annual Hotel Industry Survey released by the Hellenic Chamber of Hotels (HCH) in collaboration with the Institute for Tourism Research and Forecasts (ITEP). The report points to a year of significant progress, not only in financial performance but also in the sector’s contribution to the broader Greek economy.
The findings highlight an extended tourist season and improvements in service quality across the country’s hotel infrastructure. Particularly notable was the rise in occupancy and pricing during off-peak months at hotels operating year-round, signaling a shift toward a more sustainable and evenly distributed tourism model. Tourist flows during the peak season remained stable compared to 2023.
The total direct and indirect contribution of the hotel sector to Greece’s economy reached €17.8 billion in 2024, accounting for 5.9% of the country’s GDP - a notable increase from 4.8% the previous year. In addition to its financial impact, the industry supported more than 340,000 jobs across the country, of which approximately 143,000 were indirect roles in sectors connected to hospitality. The industry also had a positive effect on Greece’s external balance, contributing an estimated €7.9 billion improvement.
Investment activity remained strong, with hotel businesses investing over €1 billion during the year. Around €200 million of that—roughly 20%—was allocated to sustainability and environmental upgrades, signaling a growing focus on long-term ecological responsibility within the sector.
Over the past decade, the total number of hotel properties in Greece has grown modestly by just 4%, while the number of rooms has increased by 11%, reflecting a qualitative upgrade of the country’s accommodation capacity. The study suggests that this steady, quality-focused growth in the hotel sector is not a contributing factor to overcrowding or excessive concentration of tourism flows.
Alexandros Vassilikos, President of the Hellenic Chamber of Hotels, emphasized that the data confirms the resilience and potential of the sector. He noted that with the right policies and support, Greek hotels could further strengthen their role as a key pillar of economic and social development for the country.
