Tourist spending in Greece increased by 14% from October 2023 to September 2024 compared to the same period a year earlier, according to Visa's "Analysis of Mediterranean Tourism," which was presented by the company on Monday.

The analysis covers transactions at physical stores in Greece with Visa cards issued abroad in the period from October 2023 to September 2024, compared to the same period a year earlier. Visa's "Analysis of Mediterranean Tourism" is shared with the Greek Ministry of Tourism as part of the Memorandum of Understanding signed with Visa in 2022 and is a useful source of information for the ministry's strategic plan, according to the company's announcement. 

Specifically, the tourism sector in Greece continues to flourish, with key indicators recording strong growth in both the number of visitors and the number of transactions, among others. Visitors increased by 17%, while transactions rose by 22%, suggesting a shift towards cashless payments.

The countries that contribute most to Greek tourism

The key countries that have fuelled Greek tourism growth include the UK with a 12% increase, the US (14%), Germany (24%), and France (10%). Athens emerged as the most popular destination among all Greek cities, up 17% year-on-year, with Mykonos coming in second. The United Arab Emirates recorded the highest average spend per visitor, while Turkey showed the most notable increase in tourism spending with +114%, followed by China with a 63% increase.

Beyond the tourist season

Visa's data shows that the increase in spending in the months outside of the high tourist season was greater than the increase seen in mid-summer. March 2024 saw a 19% increase in spending compared to the same period in 2023; April saw a 17% increase; and September saw a 15% increase. Visitor spending in July and August accounted for 39% of total annual spending.

Regions with the highest tourist expenditure

The region recording the highest transaction value continues to be Athens, recording an 18% year-on-year increase. Destinations that show a differentiated trend from the average are Rhodes and Chania (22%), Mykonos (+2%), Santorini (-1%).

Expenditure categories and growth

The breakdown of visitor spending in Greece reveals a wide range of interests, with retail goods leading the way with an annual increase of 26% but accounting for only 4% of the total. Spending on dining and nightlife increased by 21%, making up 25% of total spending, while spending on groceries and supermarkets also increased by 17%, making up 8% of total spending.