At a time when Greek tourism is recording successive record highs in arrivals and revenue, while demand for authentic culinary experiences is growing internationally, attention is turning to the extent to which this momentum translates into growth opportunities for the Greek food industry.
The latest economic survey by the Economic Analysis Department of the National Bank of Greece shows that the food sector has already capitalized on part of this momentum, with tourism serving as a distinct channel of demand, while companies that have entered into structured partnerships with tourism businesses show significantly stronger gains in sales and profitability.
Specifically, the food sector has shown strong growth over the past five years, with the industrial production index outperforming Europe, growing by 4.5% annually compared to 0.8% respectively during the 2020–2025 period. Among the key drivers of this outperformance were, on the one hand, the increased export orientation of the Greek food sector and, on the other hand, the boost to domestic consumption from rising tourism activity.
For example, taking into account the volume of daily tourists and their relative spending compared to Greek consumers, it is estimated that tourism demand accounts for approximately 10%–15% of food sales. The importance of this channel is expected to grow further over the next decade, as international tourism demand is projected to increase by approximately 50%, while Greece has consistently maintained a share of nearly 2% of international arrivals, and gastronomy is playing an increasingly important role in tourist preferences.
The ETE survey shows that this opportunity has been widely recognized by food SMEs, as 91% of the sector views tourism as a pillar of the industry, in both island and urban areas.
Even more importantly, this recognition has already translated into business action: two-thirds of food businesses have taken relevant steps, primarily through partnerships with hotels and restaurants to promote their products. This momentum is strongest among island-based businesses, where 72% have developed such partnerships, compared to 50% in other regions, likely reflecting the stronger link between local economies and tourism.
This trend appears to have already had a measurable economic impact, with organized partnerships leading to significantly greater benefits compared to a more passive approach to capitalizing on tourism demand. Specifically, food SMEs that have formed partnerships with tourism businesses are four times more likely to see tourism demand make a substantial contribution to their sales, compared to businesses that have not taken such steps.
At the same time, the benefits are not limited to increased sales: approximately one-quarter of the sector reports simultaneous growth in both sales and profit margins through these partnerships; about 60% achieve specific direct benefits, while 12% primarily experience indirect benefits, such as networking opportunities. In this sense, tourism functions as a form of “domestic export market” for Greek food products: it brings international demand into the country at a lower cost of access compared to traditional exports, and it is already an active driver of growth for the sector, boosting both sales and financial performance.
However, tourism demand does not automatically translate into steady sales and higher profit margins. The key challenge for food companies is no longer recognizing the opportunity, but transforming it into an organized and reliable B2B sales channel for the tourism sector.
The findings show that there is no single “recipe” for success: companies can rely on different strengths, such as product quality and differentiation, cost competitiveness, or targeted networking efforts, while geographic proximity to tourist destinations appears to be of limited importance. Consequently, the key is not to replicate a common model, but rather each company’s ability to transform its own competitive advantage into recurring supply relationships through consistent production, sufficient scale, collaborative capacity, and operational maturity.
The study can be found on the National Bank of Greece Group’s website, in the Economic Studies and Analyses section (Category: Greek Entrepreneurship): Small and Medium-Sized Enterprises | National Bank of Greece