Tourism has a strong footprint on the Athens Stock Exchange, as several listed companies from various sectors of the economy are affected – some more, others less – by the performance of tourism. This has a strong effect on the profitability, the annual dividends as well as the course of the shares.
Transport, hotels, cruise, beverages – alcohol, food, cosmetics and consumer products are some of the industries, which have a direct or indirect correlation with tourism, with the respective listed companies expecting to benefit from the national “champion” of the economy.
Industry numbers so far show we are heading for yet another record, defying those who saw a potential pullback from 2023 impressive performance. The first quarter of 2024 showed further improvement in revenue (+28.2%) and arrivals (+24.5%), while the CAA data for the first half showed an increase of +11.4% in passenger traffic at domestic airports.
All this, now, remains to be reflected on the Athens Stock Exchange, which needs the shares of the tourism sector, in order to “forget” as quickly as possible the recent slippage from the multi-year highs of 1,502 points. But the truth is that the benefits of record-breaking performances are not reflected in the same way in all the companies involved.
