The efficiency of the tourism industry in Greece during the economic crisis (2008-2016)

Abstract

This paper investigates the efficiency of the tourism industry in Greek regions during the economic crisis (2008 – 2016). It applies the methodology of stochastic frontier analysis that allows us to estimate the regional efficiency scores and rankings. The results show that the tourism industry in Greece enjoys high average efficiency levels and seems to not fall behind in comparison to its competitors. The regions of South Aegean and Crete are regarded as the leaders in the efficiency ranking. Greece, in order to achieve more economic, social, and cultural benefits from tourism should continue the structural reforms, improving the prospects of the sector. © 2022 The Author(s).