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The Contribution of the Hotel Industry to the Greek Economy

Author

Listed:
  • George Soklis

    (Department of Public Administration, School of Economy and Public Administration, Panteion University, 136 Syngrou Av., 17671 Athens, Greece
    Research Institute for Tourism, 24 Stadiou, 10564 Athens, Greece)

  • George Petrakos

    (Department of Public Administration, School of Economy and Public Administration, Panteion University, 136 Syngrou Av., 17671 Athens, Greece
    Research Institute for Tourism, 24 Stadiou, 10564 Athens, Greece)

  • Sophia Panousi

    (Research Institute for Tourism, 24 Stadiou, 10564 Athens, Greece)

Abstract

This paper estimates the contribution of the hotel sector to the main macroeconomic figures of the Greek economy. For this purpose, we use a combination of input-output models as well as survey-based data. The analysis of the intersectoral relationships in the Greek economy indicates that the hotel sector constitutes a key sector of the economy. The total (direct and indirect) contribution of the hotel sector to the gross domestic product of the economy is estimated at 4.8% for the year 2023, whilst its total contribution to employment is estimated at 6.6%. Moreover, from the sectoral decomposition of the cost of the hotel product, it is found that almost 20% of the price of the final hotel product is composed of taxes, a percentage that is almost twice that of the other sectors of the economy. Finally, the evaluation of the results of the current study offers useful insights for policymakers.

Suggested Citation

  • George Soklis & George Petrakos & Sophia Panousi, 2025. "The Contribution of the Hotel Industry to the Greek Economy," Tourism and Hospitality, MDPI, vol. 6(1), pages 1-21, January.
    • Handle: RePEc:gam:jtourh:v:6:y:2025:i:1:p:11-:d:1569228
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    References listed on IDEAS

    as
    1. Nikolaos Rodousakis & George Soklis & Theodore Tsekeris, 2022. "A Supply and Use Model for Estimating the Contribution of Costs to Energy Prices," Energies, MDPI, vol. 15(19), pages 1-10, September.
    2. Kasimati Evangelia, 2016. "Does tourism contribute significantly to the Greek economy? A multiplier analysis," European Journal of Tourism, Hospitality and Recreation, Sciendo, vol. 7(1), pages 55-62, May.
    3. George Soklis, 2009. "The Conversion of the Supply and Use Tables to Symmetric Input-Output Tables: A Critical Review," Bulletin of Political Economy, Bulletin of Political Economy, vol. 3(1), pages 51-70, June.
    4. Juan Gabriel Brida & Isabel Cortes-Jimenez & Manuela Pulina, 2016. "Has the tourism-led growth hypothesis been validated? A literature review," Current Issues in Tourism, Taylor & Francis Journals, vol. 19(5), pages 394-430, April.
    5. Nikolaos Dritsakis, 2004. "Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis," Tourism Economics, , vol. 10(3), pages 305-316, September.
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