Greece’s luxury travel sector is poised for a remarkable upswing, with projections indicating a surge to $2.7 billion by 2030, according to a report by Travel and Tour World. The high-end travel market, valued at $767.8 million in 2020, is expected to experience a robust compound annual growth rate (CAGR) of 11.5% from 2021 to 2030.
The growth in Greece’s luxury travel industry is attributed to a rising interest in exclusive and lavish holiday destinations, driven by increasing disposable incomes and improved living standards. While Greece actively promotes year-round tourism, it is the enchanting summer months that allure international tourists, including celebrities, to the picturesque islands and burgeoning resorts.
The country, ranked as the 13th most visited globally, attracts over 30 million international tourists annually, primarily from European Union nations and the United States. However, the report highlights a burgeoning interest from Asia, especially China.
The adoption of cutting-edge technologies is identified as a key driver for the growth of Greece’s luxury travel industry. The report notes, “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.”
Luxury Travel Intelligence (LTI) recently released its annual catalog of the best new Luxury Hotels, where three Greek hotels secured positions in the top 15. Notably, the Mandarin Oriental in Costa Navarino and the Dolli in Athens were recognized among the best global arrivals of the year. TripAdvisor’s 2023 survey also highlighted Greece’s prominence, with two of the ten best luxury hotels in Europe located in the country, including the top-ranking Ikos Dassia in Corfu.
As Greece anticipates a potential tourism surge of up to 10% in 2024, industry experts are optimistic about achieving new records. Aage Dünhaupt, Head of Communications at TUI tourism group, stated, “Greece is heading for the highest performance of all time,” based on the current trajectory of airline reservations and early bookings.
The intersection of technological advancements and Greece’s natural allure positions the country as a premier destination for luxury travelers, promising a lucrative future for its thriving luxury travel industry.
