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Strong Tourism Flows, Travel Receipts for Greece in November 2018
Posted On 23 Jan 2019
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Travel receipts rose by 42.4 percent year-on-year in November 2018 to 326 million euros from 229 million euros in the same month in 2017, driven by a 6.2 percent rise in inbound traffic and increased spending per trip by 35.8 percent (or 106 euros), according to provisional data released by the Bank of Greece (BoG).
The balance of travel services in the same month marked a surplus of 175 million euros, compared to 101 million euros in 2017.
More specifically, receipts generated by EU nationals increased by 26.7 percent in November to 175 million euros and by 74.0 percent by non-EU travelers. Leading spenders were visitors from Germany, up by 2.5 percent to 36 million euros, from France – stronger by 185.7 percent to 16 million euros, from the UK – up by 16.2 percent to 25 million euros, and from the US – up by 57.4 percent to 34 million euros.
On the downside, receipts from Russia fell by 12.3 percent to 4 million euros.
According to central bank data, the number of inbound travelers in November 2018 increased by 6.2 percent year-on-year to 786 thousand, with 24.2 percent more traveler traffic through Greek airports, and down by 14.8 percent via road border-crossing points.
Over the January-November 2018, the balance of travel services showed a surplus of 13,930 million euros, up from 12,700 million euros in the 11-month a year earlier.
For the same 11-month period, travel receipts came to 15,847 million euros, up by 9.7 percent compared to the same period in 2017 driven by a 12.0 percent increase in receipts from EU residents at 10,919 million euros and by a 5.8 percent rise in receipts from non-EU residents to 4,513 million euros.
According to BoG figures, travel receipts reflected a 10.6 percent rise in inbound traffic, while average spending per trip dropped by 3 euros, or 0.5 percent.
In January-November 2018, inbound traffic grew by 10.6 percent to 29,466 thousand against 26,632 thousand in 2017: up by 13.6 percent through airports and by 5.8 percent via road border-crossing points.
