The Contribution of the Hotel Industry to the Greek Economy

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

Tourism and Hospitality, 2025, vol. 6, issue 1, 1-21

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.

Keywords: cost decomposition; Greek hotel sector; input–output analysis; multipliers (search for similar items in EconPapers)
JEL-codes: Z3 Z30 Z31 Z32 Z33 Z38 (search for similar items in EconPapers)
Date: 2025
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