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Greece’s Tourism Surplus Shrinks

Recent Eurostat figures for 1998 show that Greece’s tourism sector posted a surplus balance in its tourism sector of 288 billion drachmas.

However, a world of caution: For the same year and for the first time in 10 years, the EU posted a tourism account deficit of 438 billion drachmas.

Furthermore, Greece fairs little better than most when 1998 is compared with 1997. Its tourism surplus for 1998 by 100 billion drachmas because of a 6% drop in arrival revenue and a 33% increase in the amount of money spent by Greeks that traveled outside their borders.

On the 15 European Union member countries, only France, Spain, Italy, Greece and Portugal posted a tourism revenue surplus in 1998. The union as a whole welcomes 40% of world tourism arrivals and posts 42% of total world tourism revenue, according to Eurostat.

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