The Greek economy is expected to grow by 8.5% in 2021, 4.9% in 2022, and 3.5% in 2023, the European Commission said in its winter economic forecast report released on Thursday, revising upwards its earlier forecast of a growth rate of 7.1% in 2021 and slightly downwards its forecast for 2022 (5.2%), ANA reports.
Real GDP in Greece grew by 2.7% (quarter-on-quarter) in the third quarter of 2021, reflecting strong export performance and a significant contribution from private consumption, the Commission said, adding that the notable recovery in tourist inflows over the summer helped the economy to reclaim a significant part of the previous losses due to the negative impact of the COVID-19 pandemic, while the industrial sector has rebounded strongly.
Tourism, in particular, is expected to continue recovering its previous losses, until it fully returns to its pre-pandemic levels by the end of the forecast horizon. Overall, real GDP is projected to grow by 4.9% in 2022 and ease to 3.5% in 2023.
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
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