Analysis of Santorini’s Tourism Product from the Demand and Supply Perspective

Abstract

Tourism is a contemporary social as well as economic phenomenon, being one of the main sectors,
with a continuous impact on the local economy and society of each tourist destination. The economic
value of tourism lies in the creation of jobs and income, the implementation of investments for
infrastructure development, and its contribution to national taxes. In Greece, the majority of tourist
traffic is mainly distributed among the three regions of Crete, the Ionian Islands, and the South Aegean.
This paper examines the supply and demand of the Greek tourism product with a focus on the island
of Santorini, which is an internationally renowned destination of the South Aegean. The study
contributes to the literature on island destinations by providing a comprehensive, post-pandemic
assessment of tourism demand and supply dynamics, highlighting structural pressures related to
overtourism, seasonality, and destination resilience. The research relies on official and recently
published statistical data from the Bank of Greece, the Hellenic Statistical Authority, the Hotel
Chamber, and other reliable sources. By systematically linking empirical indicators with destination
management challenges, the study offers policy-relevant insights for sustainable tourism planning in
high-pressure island destinations. Through this study, useful conclusions are drawn for the island of
Santorini, which help in addressing the challenges in managing the destination, based on close
cooperation with all interested parties.
JEL Classifications: L83, R11, Z32
Keywords: Santorini, tourism product, tourist demand, tourist supply