Page 36 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.81, # 1, 2024, pp. 22-39

Greece was a successful destination in earning more and more income by attracting
European tourists, though with a temporary sudden stop during the pandemic crisis.
Most of the trips are for personal reasons. Websites together with social networks are
the most important digital tools for the Greek accommodation enterprises, travel
agencies and tour operators. Most accommodation sector businesses also pay for
targeted advertising online. Mobile applications, blogs and microblogs are a less
popular tool for promotion. Paid targeted advertising on the internet and using
multimedia content sharing websites have been largely growing in popularity in recent
years. Total imports of advertising and marketing research services by Greece from
the EU increased 3 times in 2017-2021 after several years of stable values.

After controlling for the tourists’ income trends (the EU GDP growth), websites
providing description of tourism services, their prices and online booking, and
possibly social networks demonstrate the effect on the income of Greek tourism
sector. Data limitations and lower popularity of other digital marketing tools do not
allow proving their substantial contribution at the macro-level. Using micro-level data
may help to address their efficiency in further studies. Imports of advertising,
marketing research and tour reservation services from individual EU member states
also correlates with expenditure of tourists from those member states in Greece, but it
is more related to the size of their GDP. The highest direct efficiency was for imports
of advertising and marketing research services from Luxemburg and Czechia.

REFERENCES
Amoiradis, Ch., Stankova, M., Velissariou, E., & Ladis, Ch. (2021). Sustainability
Analysis of Greece's Promotion as a Tourism Destination. Regional Science
Inquiry, 13(2): 227-238. https://niightstars.net/?h=repec%3Ahrs%3 Ajournl%
3Av%3Aiii%3Ay%3A 2011 %3Ai%3A2%3Ap%3A45-59&_=% 2Fscripts%2
Fshowcites.pf%23KJWq MZBBlFP oJOMFUQ3llZi7aoRwHlzvpPE3

Andreopoulou, Z., Tsekouropoulos, G., Koliouska, Ch.,& Koutroumanidis, Th.
(2014). Internet Marketing for Sustainable Development and Rural Tourism.
International Journal of Business Information Systems, 16(4): 446-461.
https://www.inders cien ceonline.com/doi/pdf/10.1504/IJBIS.2014.063931

Belias, D., Velissariou, E., Vasiliadis, L., Kyriakoy, D., Mantas, C., Varsanis, K.,
Sdrolias, L., Koustelios, A., & Tselios D. (2019). Tourism and Destination
Marketing the Case of Greece. In: D. P. Sakas & D. K. Nasiopoulos (ed.).
Strategic Innovative Marketing, Springer, 67-74. https://link. springer. com/
chapter/10.1007/978-3-030-16099-9_9

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