The Resilience of the Greek Tourism Sector Ensures Growth Prospects for the Greek Economy: A Note

Abstract

In this short paper, we present data on the Greek Tourism sector for the last twenty years to demonstrate our view that this very important sector of the Greek economy has withstood consecutive adverse shocks during this period without significant losses to its competitive position at the international level. Thus, by proving the resilience of this specific sector (a unique case among the sectors of the Greek economy—matched only by the shipping sector albeit to a lesser degree) , we corroborate that tourism has supported the growth dynamism of the Greek economy during difficult times; moreover, based on its contribution in the past, specific comparative advantages and current favourable prospects , it could well prove to be a “reliable” driver of growth also during the recovery period and the medium-term as well.