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  "docId": "019dd923-5e88-73ef-bd59-3d3e7187be68",
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  "documentTitle": "ey industry pulse report travel and tourism",
  "authorId": "MorganStanley",
  "authorName": "EY",
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  "notes": "The slide uses a two-column bulleted list format to present qualitative and quantitative insights about the Greek tourism market.",
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      "text": "Tourists looking at ancient ruins",
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      "text": "Regarding international arrivals up to September 2022, these remained below 2019 levels, for the corresponding period (-12%). On the contrary, international air arrivals in Greece increased by ca. 5.2% in Q3 2022 and ca. 5.4% for the September-October 2022 two-month period, exhibiting one of the highest increases amongst EU countries, compared to the corresponding periods in 2019, suggesting a strong finish to a solid year for tourism, marking the sector's return to robust figures.",
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      "text": "While the impact of a drop in Russian and Ukrainian arrivals and receipts is expected to be minimal for the Greek Tourism, the high inflation environment - depending on how long it will last - could impact tourism, with travelers limiting their vacation plans and related expenditures, in view of the noticeable price increases.",
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      "text": "The evidence so far suggest the T&T sector's positive course within 2022, with expectations pointing out to the sector's return to a pre-pandemic performance.",
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      "text": "In 2021, prior the start of the conflict in Ukraine, INSETE released the \"Hellenic Tourism 2030 Action Plans\", forecasting a strong growth up to 2030 in the sector, in both visits and nights spent (CAGR of +3.5% and 4.0% in visits and nights spent, respectively).",
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      "text": "Greece's Tourism sector is expected to feel the impact of the recent geopolitical tension, nevertheless, to a limited extent regarding arrivals and receipts from the two countries in conflict. Particularly, Russian tourists in Greece accounted for 7.5% of total arrivals in 2013, before dropping to ca. 2% in 2019, while during the pandemic, the share of Russian tourists was further compressed (2020: 0.3%, 2021: 0.8%). Also, Russian receipts in 2019 amounted to ca. 2.4% of total inbound tourism receipts in Greece, dropping to 0.3% and 1.1% in 2020 and 2021, accordingly. Ukrainian tourist arrivals in 2019 accounted only for 0.4% of total arrivals, while during the past decade, said figure remained below 0.6% (out of total arrivals).",
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      "text": "Preliminary data for tourist receipts for the June - September 2022 period, show a decrease of 1.1%, compared to the corresponding period in 2019, indicating that the expectations for a similar-to-2019 performance in tourist receipts could be attainable.",
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      "text": "International arrivals: 5.4%",
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      "kind": "source-note",
      "text": "Source: Weekly Economic Bulletin, 14th March, Bank of Greece, INSETE: \"INSETE 2030 report\", naftemporiki.gr: \"Tourism: Increased by 17% compared to 2019 arrivals in the Aegean islands during the first week of August, 18.08.2022\" and \"Greece: August international flights over 2019 levels, 12.09.2022\", Greek Reporter: \"Greece Sets New Record for October Tourism\"",
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      "text": "Despite the rising uncertainty spurred by the geopolitical tension and the energy crisis, expectations remain positive for the tourism industry for 2022 and beyond...",
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