A homogeneous Riemannian space (M=G/H,g) is called a geodesic orbit space
(shortly, GO-space) if any geodesic is an orbit of one-parameter subgroup of
the isometry group G. We study the structure of compact GO-spaces and give
some sufficient conditions for existence and non-existence of an invariant
metric g with homogeneous geodesics on a homogeneous space of a compact Lie
group G. We give a classification of compact simply connected GO-spaces (M=G/H,g) of positive Euler characteristic. If the group G is simple and the
metric g does not come from a bi-invariant metric of G, then M is one of
the flag manifolds M1=SO(2n+1)/U(n) or M2=Sp(n)/U(1)⋅Sp(n−1) and
g is any invariant metric on M which depends on two real parameters. In
both cases, there exists unique (up to a scaling) symmetric metric g0 such
that (M,g0) is the symmetric space M=SO(2n+2)/U(n+1) or, respectively,
CP2n−1. The manifolds M1, M2 are weakly symmetric spaces