A Destination for the Rich? Luxury Travel in Greece Seen Soaring

  • 12 June, 24

Greece’s luxury travel industry is seen soaring to $2.7 billion by 2030, according to a report published recently by Travel and Tour World.

In 2020, the value of Greece’s high-end travel sector was estimated at approximately $767.8 million. By 2030, it is anticipated that it will soar to around $2,736.7 million, experiencing a compound annual growth rate (CAGR) of 11.5 percent from 2021 to 2030.

The luxury travel segment within Greece’s tourism industry has been witnessing a marked upsurge, fueled by growing interest in distinctive and luxurious vacation locales. This niche market is gradually expanding its footprint, driven by increased disposable incomes and enhanced living standards, the report says.

Greece is trying to attract tourists year-round. However, it’s still the summer months of magic that brings them to the country. This includes celebrities who are attracted to the islands and resorts popping up around the country that take over public beaches.

Statistical data from Greece’s national authorities place the country as the thirteenth most visited globally, attracting over thirty million international tourists annually, predominantly from European Union nations and the United States. More recently, there has been increased interest from Asia, especially China.

The report notes that growth in Greece’s luxury travel industry can be attributed to numerous upscale travel firms adopting cutting-edge technologies to elevate the luxury travel experience and provide top-notch facilities.

“Innovations such as Oculus Rift for virtual reality, Amazon Echo for artificial intelligence, GoPro for wearable technology, and advanced 3D printing are being introduced to enrich customers’ travel experiences, further propelling the demand in this industry,” according to the report.

Cre: Greek Reporter