INTERNATIONAL COMPETITIVENESS OF THE TOURISM SECTOR IN GREECE
DOI:
https://doi.org/10.35774/jee2024.01.146Keywords:
competitiveness, economy of Greece, inbound tourism, international travels, marketing SWOT analysis, Travel & Tourism Development Index.Abstract
The paper analyzes the importance of international competitiveness in the tourism sector during the period of recovery from the pandemic crisis of 2020, in particular the competitiveness of the travel and tourism industry in Greece. Trends in tourist arrivals and receipts from inbound tourism and accommodation facilities show a vigorous performance of the Greek tourism sector before the pandemic, its deep crisis in 2020, and its rapid recovery within the next 2 years under a set of government support measures. Comparative correlation analysis for two samples (global and regional) was used to identify significant factors contributing to the recovery of the relative competitiveness of tourism services exports in 2019-2022. Regression analysis confirmed the significance of improved interest in cultural attractions, environmental sustainability, absence of organized violence, and the substitution effect between inbound and domestic tourism; it also suggested an atypical effect of accommodation capacity growth during the analyzed recovery period. A SWOT analysis conducted using the Travel & Tourism Development Index showed that the Greek tourism sector has more strengths and opportunities than weaknesses and threats. Its strengths include trade and fi nancial openness, security, developed tourism and medical infrastructure, private and public investment in the sector, and high labor productivity in hotels and restaurants; while its main weaknesses are high prices, seasonality, and several other issues.
JEL: Z33, Z32, M31, D41.
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