Online short-term rentals comprise 21.5% of all overnight tourist stays in Greece, with a great contribution to the country’s GDP, according to a research report presented by Professor George Doukidis at the Prodexpo Real Estate Conference on Thursday.
The report was produced in collaboration with the Athens University of Economics and Business (AUEB) and aimed at finding out the level of contribution of short-term rentals to the Greek economy. Leading the research were Doukidis and Dr. Lefteris Kiosses, in cooperation with the AUEB’s e-Business Research Center, or ELTRUN.
Doukidis said that in 2022, online short-term rentals contributed 1.65% to GDP, equivalent to 3.44 billion euros, supporting 54,000 job positions. The direct effect on GDP ranged between 7.58 and 8.12 billion euros, or around 3.64%-3.90% of GDP. In addition, the rentals played a key role in tourism services, with overnight stays for 8 consecutive months in 2022 totaling over 1 million in number.
The AUEB professor noted that online short-term rentals allowed socially, financially, and demographically vulnerable groups in society, primarily individuals, who are seeking an additional income stream and tend to be older adults living in either semi-urban areas or near urban centers. Their geographical distribution is widespread as well, with Greece’s largest populated region, Attica, accounting for only 16-20% of overnight stays. The rentals offer alternatives to the fast-rising demand of tourism in Greece that cannot be accommodated by existing hotels, he noted.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
