In a promising sign of recovery for the aviation industry, Athens International Airport (AIA) has witnessed a remarkable surge in passenger traffic. In July, the airport recorded a significant 16.1 percent increase in passenger numbers compared to the same month in 2022, with a total of 3.29 million people passing through its gates. What’s even more encouraging is that the figures also surpassed pre-Covid levels from 2019 by an impressive 10.5 percent for the same month.
The provisional data released by AIA earlier this week reveals that both domestic and international passenger figures outperformed the numbers from 2022, with increases of 12.7 percent and 17.7 percent, respectively. Moreover, when compared to 2019, domestic arrivals saw a growth of 12.4 percent, and international arrivals saw a rise of 9.7 percent for the same period.
For the first seven months of the year, AIA handled a total of 15.37 million passenger arrivals, representing a substantial 30.1 percent increase over the same period in 2022 and a noteworthy 7.9 percent rise compared to 2019. The data shows that both domestic and international arrivals contributed significantly to this upward trend, with domestic arrivals increasing by 23.3 percent and international arrivals soaring by an impressive 33.5 percent compared to the same period in 2022.
In terms of flight numbers, AIA managed 133,700 flights from January to July, marking a growth of 14.1 percent compared to 2022 and a 4.7 percent increase over pre-Covid levels from 2019. Domestic flights showed an 8.4 percent increase compared to 2022, and international flights witnessed an even more substantial surge of 18.9 percent.
As the aviation industry continues its path to recovery, the recent surge in passenger traffic and flight numbers at Athens International Airport signifies a positive outlook for the Greek tourism sector and the country’s overall economic rebound.
How Does Increase in Passenger Traffic Benefit Real Estate Investment in Greece
- Increased Passenger Traffic: The surge in passenger traffic at Athens International Airport signifies a robust recovery in tourism, which is a significant driver for the real estate sector in Greece. As more tourists visit the country, there will be a higher demand for vacation rental properties, hotels, and other hospitality-related real estate investments.
- Growing Domestic and International Arrivals: The rise in both domestic and international arrivals indicates a broader appeal of Greece as a destination. This attractiveness is likely to extend to potential real estate investors who may consider purchasing properties for personal use or as investment properties in popular tourist regions.
- Positive Economic Outlook: The substantial growth in passenger traffic and increased tourism activity demonstrate a positive economic outlook for Greece. A stable and growing economy boosts investor confidence in the real estate market, making it an attractive option for those seeking viable investment opportunities.
- Potential for Rental Income: The higher influx of tourists and visitors to Greece creates a strong rental market for property owners. Investors can capitalize on this trend by purchasing residential or commercial properties in sought-after locations and renting them out to tourists or long-term tenants, generating a steady stream of rental income.
- Capital Appreciation: The revival of the tourism sector and overall economic growth bodes well for real estate prices in Greece. As demand for properties increases, property values are likely to appreciate over time, offering investors the potential for capital gains in addition to rental income.
In summary, the data on increased passenger traffic and tourism activity in Greece indicates a positive trend for real estate market investment in the country. These include opportunities for higher rental income, capital appreciation, and overall investor confidence in the market’s potential for growth and stability.
Rhodes Royce Properties is a licensed Realtor in Greece. If you are interested acquiring a Greek Golden Visa through real estate investment in Greece, please contact us for free consultation and advisory.
