Tourism revenue results for this season

This year's tourist season in Corfu may have closed with an 8.6% increase in terms of arrivals at the airport, however, the final profit left in the hoteliers' coffers is estimated to be below the levels of 2019, the last year before COVID.

Tourism entrepreneurs in Corfu, who are active in the industry, state that the travel boom of 2022, where all of Europe wanted to travel without a second thought, after two years of the pandemic, is not the norm but the exception.

"Last year, the first year after the pandemic, people came with the appetite to spend much more money," Babis Voulgaris, the President of the Corfu Hoteliers Association, told Enimerosi. "This year, I estimate that the turnover increased due to price increases in hotels (by 10% and above), but not the final result, which is comparable to the increase in costs. In most cases, the final result is below 2019 and close to 2022. Expenses were worse than we expected. However, as long as there is a strong demand for the island - which there is - it is positive."

He said, however, that there will be a price adjustment from the new year ranging from 4% to 8%, depending on the hotel. This adjustment takes into account factors such as renovations, occupancy rates, any price increases in previous years, and so on. Nevertheless, Corfu remains a strong brand. Bookings have already started to move at reasonable levels for the season, and as Mr. Voulgaris points out, significant activity is expected after the Christmas holidays.

Changing factors

According to the President of the Federation of Corfu Tourist Accommodation Owners, Pericles Katsaros, another factor to consider is that arrivals at Corfu AIrport may have increased compared to last year; however, there were people who did not stay on the island but used Corfu as an intermediate stop to head to cruises, tourist resorts in Albania, Paxos, and Syvota.

Catering

The President of the Corfu Catering Association (representing this sector throughout the island) and a member of the Board of Directors of the GSEVEE, Vassilis Vassilakis, considers price adjustments throughout the spectrum of catering to be inevitable. "The year went quite well, but not at the levels of 2022 when all of Europe wanted to travel following the pandemic.

If VAT increases, there will definitely be price adjustments in the catering prices, as has happened with fuel, products and other items. We can no longer absorb the increases and price adjustments of products."