{
  "docId": "019dd923-5e88-73ef-bd59-3d3e7187be68",
  "docSlug": "a284c972af5b8b12",
  "documentTitle": "ey industry pulse report travel and tourism",
  "authorId": "MorganStanley",
  "authorName": "EY",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.779,
  "pageNumber": 3,
  "pageCount": 34,
  "prevPage": 2,
  "nextPage": 4,
  "slideType": "executive_summary",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "The slide is text-heavy, structured in two columns, providing a narrative overview of the industry's current state.",
  "elementsJson": [
    "headline_text",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd59-3d3e7187be68/3",
  "deckHref": "/decks/019dd923-5e88-73ef-bd59-3d3e7187be68",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd59-3d3e7187be68.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd59-3d3e7187be68#slide-3",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The Tourism sector is one of the Greek economy's main pillars, accounting for almost 1/4 of the country's GDP.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-340b-7192-a37e-a339f9899bd4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.43,
        "x": 0.52,
        "y": 0.49
      },
      "kind": "paragraph",
      "text": "In spite of the rising uncertainty spurred by the geopolitical tension and the energy crisis, expectations remain positive for the Tourism industry from 2022 onwards.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0db4633e-92be-4059-85e9-6c1ca86a56eb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.43,
        "x": 0.52,
        "y": 0.4
      },
      "kind": "paragraph",
      "text": "The Airbnb market has also bounced back strongly in 2022 - with active listings almost reaching 2019 performance - while overall demand has also recovered significantly, recording the strongest figures compared to the European competition.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "336515b8-2a93-44f4-9a4c-ddede07fca51",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.43,
        "x": 0.05,
        "y": 0.3
      },
      "kind": "paragraph",
      "text": "Nevertheless, the Greek Tourism sector managed to regain some of the lost ground during 2021, while preliminary figures for 2022 show that the sector has almost fully recovered, reaching 2019 figures, even in periods which are traditionally considered \"slow\" for the sector (September-October). The hotel sector showed resilience during 2021, as hotel revenues nearly reached pre-pandemic levels and, in some cases, exceeded them. In particular, hotel performance was better than originally anticipated, with occupancy and ADRs showing significant recovery, especially in the luxury segment. For 2022 and up until October, hotel revenues are exhibiting improved figures compared to 2019, leading to expectations for a very successful year for the T&T sector, affirming the industry's potential in exhibiting a solid performance until late in the year. Particularly Athens, has showed improved hotel KPIs (occupancy, ADRs) throughout the year.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "48c0bb1a-7786-443b-860a-4c979950ce69",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.43,
        "x": 0.05,
        "y": 0.66
      },
      "kind": "paragraph",
      "text": "Hotel capacity has continued growing, mainly for 5-star hotels, with the growth of this segment also observed in refurbishments. The trend observed toward the luxury segment, as well as the increasing running expenses due to the energy crisis and increasing inflation, are contributing to higher room prices being asked.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4d153489-e477-41e5-aa98-37191b16614e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.43,
        "x": 0.05,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "The Tourism sector is one of the Greek economy's main pillars, accounting for almost 1/4 of the country's GDP. Thus, it is vulnerable to external \"shocks\", such as the COVID-19 pandemic. Due to the subsequent severe disruptions on a global and domestic level, many challenges for the Tourism sector have arisen since early 2020.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4fd61552-b1ec-4f6a-8cf1-321248e4aeb0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.43,
        "x": 0.52,
        "y": 0.56
      },
      "kind": "paragraph",
      "text": "Important mega-trends, such as consumer behavioral changes (emerging destinations, wellness tourism, workcations, etc.) and the sector's digital and sustainable transformation, are already impacting the Greek T&T sector. Therefore, Greek Tourism's growth potential will largely depend on the level of preparedness to face the challenges arising.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7b533416-7a03-4179-acc5-9e77140c86a5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.43,
        "x": 0.52,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "Despite the impact of COVID-19, significant hotel transactions have taken place during the last three years (2020-2022). In addition, important development projects are currently on the pipeline, signifying investors' trust in the Greek Tourism industry, who are mainly focused on 4-star and 5-star accommodation, further supporting the sector's repositioning toward the luxury segment. This focus appears to be justified with relative hospitality quality indicators, indicating that 4 and 5-star accommodations score higher than lower category hotels, while overall, Greece achieves the highest score in terms of service quality, compared to its direct competition in the Mediterranean.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b0fdc9f9-e888-4c1a-a837-7e2165f2300b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.43,
        "x": 0.52,
        "y": 0.69
      },
      "kind": "paragraph",
      "text": "The access to EU and national funding, as well as to financial instruments, especially during periods of heightened uncertainty (war in Ukraine, inflation environment), can prove to be crucial for the T&T sector's resilient development, with tourism related businesses benefitting from grants, loans, guarantees, working capital or other risk-taking mechanisms, combined with interest rate subsidies.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e65f17f9-887b-4145-b75d-978660d99673",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.05,
        "y": 0.06
      },
      "kind": "title",
      "text": "Overview of the Greek Travel & Tourism (T&T) Sector",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9565b237-d5fd-4041-9490-6cbc4c719fb9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "Executive Summary",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7924a65-ec5e-444c-95cc-944a1a68b1d0",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 4,
      "from": 1,
      "beatId": "9d3aa0bf-501d-4a9a-9c3a-d97bcbf7e708",
      "arcName": "The Sparkline",
      "arcSlug": "sparkline",
      "beatName": "Setup",
      "beatSlug": "setup",
      "evidence": "The document starts with an overview of the Greek travel and tourism sector, providing context and setting the stage for the rest of the report.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 32,
      "from": 3,
      "name": "Golden Circle",
      "slug": "11-golden-circle",
      "bestFor": "Visionary leadership, brand positioning, mission statements",
      "matchId": "5f91a788-9ec7-4292-b60f-e6e807610b26",
      "evidence": "The document uses the golden circle loop to structure its narrative, starting with why the sector is important, then discussing what can be done to support its growth, and finally exploring how to achieve this growth.",
      "position": 0,
      "objective": "To understand the growth potential of the Greek travel and tourism sector and the need for sustainable practices and digital transformation.",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.7,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}