Analyzing and comparing tourism demand in Greece and Cyprus forecasting scenarios for the future

Abstract

Importance of tourism arises from the numerous benefits and advantages it brings to any host country. Tourism is considered as one of the most fast-growing industries today and contributes towards complete growth and development of a country. This is achieved by bringing numerous economic value and benefits through enhancement of commercial activity, creation of thousands of working positions as well as by contributing in build country's brand value, image & identity through promotion of cultural awareness and preservation of local culture and traditions. This highly competitive industry does require the full participation of the government, the public and non-government sector as well as all competent authorities to lock its success. Tourism contribution to the economy of a country is noticeable in more than one sectors of country’s economic activity. Competent authorities measure the tourism demand each year as to tourism profits or non-profit statements, compared to the previous year of the performance of tourism. The present study provides an analysis on tourism demand through specific measurements on tourist arrivals, revenues, expenditures, overnight stays and tourism indicators from 2016-2019. It also provides a presentation of the alternative forms of tourism which combine the touristic product or individual tourist services, deferring from mass tourism by means of supply, organization and the human resources involved, with the largest being the ecotourism. The factors affecting the tourism demand which are controlled by the host countries’ governments shape to a positive or a negative extent the country’s economy and stability with countries relying on strategic plans and adapting forecasting scenarios for tourism aiming to secure best possible results in the tourism industry. Following the recent financial crisis, Greece and Cyprus, the countries of Sun and Sea Model were enjoying a dominant position in the lists of the top holiday destinations. However, an unforeseen event, Pandemic Covid-19 largely affected the tourism industry world map but also the humanity itself, with the date of full recovery being yet unknown.