Revenue of Greek tourism in first 10 months of 2017 increased by 10.6%

Published on : Tuesday, December 26, 2017

greek tourismAccording to the provisional data presented by the Bank of Greece, in October of this year, the balance of travel services explain an increase of €996 million, up by 18.2% in comparison to €842 million in October last year. More importantly, travel receipts in October 2017 increased by 14.2% to €1,167 million, compared to €1,023 million in the same month of 2016, while travel payments dropped by 4.9% (October 2017: €172 million, October 2016: €181 million). The rise in terms of travel receipts is due to an 8.4% growth in the flow of inbound travelers and a growth in average expenditure per trip by 6.1% to €473. From travel services, total receipts accounted for 72.4% of net receipts from services and offset 54.3% of shortfall of goods.

 
Between January-October 2017, the balance of travel services emphasized a surplus of €12,530 million. This accounted for an up of 12.9% from a surplus of €11,100 million in 2016. This growth was motivated by an increase of €1,358 million or 10.6% in travel receipts and a decrease of €73 million or 4.3% in travel payments. In inbound flow of the travelers, the growth in travel receipts is attributed majorly to a 10.1% increase and to a lesser extent, a 0.9% rise in average expenditure per trip. Net receipts from travel services counterbalance 80.7% of the goods deficit and accounted for 76.3% of total net receipts from services.

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