Greek tourism revenues grow by 17% during first seven months of 2018

Based on provisional data by the Bank of Greece, the balance of travel services in July 2018 showed a surplus of €3,218 million, compared with a surplus of €2,776 million in July 2017. More specifically, travel receipts in July 2018 rose by 14.4% to €3,384 million, from €2,957 million in July 2017, whereas travel payments decreased by 8.0% (July 2018: €166 million, July 2017: €181 million). The rise in travel receipts is attributed to a 7.7% increase in inbound traveller flows, as well as to a rise of 6.6% or €37 in average expenditure per trip. Net receipts from travel services accounted for 85.8% of total net receipts from services and more than offset (188.5%) the goods deficit.

In January-July 2018, the balance of travel services showed a surplus of €6,980 million, up from a surplus of €5,924 million in the same period of 2017. This development is attributed to an increase, by 17.0% or €1,198 million, in travel receipts, which were partly offset by travel payments, up by 12.7% or €142 million. The rise in travel receipts mainly reflected a 14.6% increase in inbound traveller flows and, to a lesser extent, an increase in average expenditure per trip by €14 or 2.7%. Net receipts from travel services offset 60.0% of the goods deficit and accounted for 74.4% of total net receipts from services. 

Travel receipts

In July 2018, as mentioned previously, travel receipts rose by 14.4% year-on-year. In more detail, receipts from residents of the EU28 increased by 15.0% to €2,249 million, while receipts from outside the EU28 also rose, by 14.5% (July 2018: €1,060 million, July 2017: €926 million). The higher receipts from within the EU28 were due to increases in receipts from euro area residents by 12.5% to €1,376 million and in receipts from residents of non-euro area EU28 countries by 19.2% to €874 million (July 2017: €733 million). Among major countries of origin, receipts from Germany rose by 20.1% to €495 million, whereas receipts from France fell by 8.0% to €189 million. Receipts from the United Kingdom decreased by 8.8% to €345 million. Turning to non-EU28 countries, receipts from Russia fell by 12.2% to €98 million, while receipts from the United States rose by 75.1% to €215 million.

In January-July 2018, travel receipts totalled €8,232 million, up 17.0% relative to the same period of 2017. This development was driven by a 23.4% increase in receipts from residents of the EU28, which came to €5,671 million, and by a 5.9% rise in receipts from residents outside the EU28 to €2,347 million. In particular, receipts from euro area residents increased by 22.4% year-on-year to €3,504 million, while receipts from residents of non-euro area EU28 countries also rose by 25.0% to €2,167 million. Specifically, receipts from Germany rose by 35.2% to €1,467 million, as did receipts from France, by 2.9% to €465 million. Receipts from the United Kingdom also increased, by 1.2% to €1,052 million. Turning to non-EU28 countries, receipts from Russia decreased by 18.2% to €197 million, while receipts from the United States increased by 27.0% to €503 million. 

Inbound traveller flows 

The number of inbound visitors in July 2018 rose by 7.7% year-on-year to 5,539 thousand. Specifically, visitor flows through airports increased by 10.6%, as did visitor flows through road border-crossing points, by 1.9%. This increase in flows is attributed to higher visitor flows from within the EU28 (up 12.9%), as visitor flows from outside the EU28 declined by 2.5%. In greater detail, the number of visitors from within the euro area increased by 15.7% to 2,011 thousand, while visitors from the non-euro area EU28 countries also rose, by 9.9% (July 2018: 1,846 thousand, July 2017: 1,679 thousand). Specifically, the number of visitors from Germany rose by 31.7% to 677 thousand, while visitors from France increased by 8.6% to 298 thousand. Visitors from the United Kingdom fell by 11.2% to 497 thousand. Turning to non-EU28 countries, visitors from Russia edged down by 0.8% to 125 thousand, whereas visitors from the United States increased by 81.3% to 213 thousand.

In January-July 2018, the number of inbound visitors rose by 14.6% to 14,995 thousand, compared with 13,082 thousand in the same period of 2017. Specifically, visitor flows through airports increased by 15.4%, as did visitor flows through road border-crossing points, by 13.4%. In the period under review, the number of visitors from within the EU28 rose by 21.0% year-on-year to 10,582 thousand, as did the number of visitors from outside the EU28, by 1.8% to 4,413 thousand. Visitors from within the euro area rose by 19.8%, while visitors from the non-euro area EU28 countries increased by 22.2%. Specifically, the number of visitors from Germany increased by 36.5% to 2,133 thousand, as did the number of visitors from France, by 10.1% to 756 thousand. Visitors from the United Kingdom also increased, by 2.5% to 1,555 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia fell by 11.5% to 277 thousand, whereas the number of visitors from the United States rose by 34.8% to 560 thousand. 

RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report

Photo Source: Wikimedia Commons Copyright: Dimboukas License: CC-BY-SA