Travel receipts in April increased by 1,000.4 percent to 647.0 million euros from 58.8 million euros in the same month last year, driven by a strong rise in the number of international arrivals, said the Bank of Greece this week.
More specifically, according to the central bank, receipts from EU residents increased by 822.0 percent to 344.8 million euros and by non-EU travelers by 1,200,8 percent to 278.3 million euros compared to 21.4 million euros in April last year.
Central bank analysts attribute the rise to an 842.6 percent increase to 310.4 million euros by EU visitors and a 669.5 increase to 34.4 million euros in non-EU visitors.
According to the BoG, inbound traveler flows in April rose by 884.3 percent driving travel receipts up by 1,000.5 percent year‑on‑year
Key source market spending
Broken down, key source market spending saw receipts from Germany rise by 951.3 percent to 111.7 million euros, from France by 1,530,6 percent to 75.4 million euros, from the UK to 80.9 million euros, from the US to 33.0 million euros, and from Russia up by 77.4 percent to 2.0 million euros.
For the four-month January-April 2022 period, travel receipts came to 1,116,7 million euros up by 576.7 percent over the same period in 2021 driven by stronger receipts from EU residents up by 472.1 percent to 582.2 million euros and non-EU visitors up by 698.0 percent to 504.6 million euros.
A look at source markets reveals a 533.7 percent increase to177.7 million euros in receipts from Germany, a 1,113,4 percent rise to 99.0 million euros in spending from France, a 1,229,8 percent increase to 128.0 million euros in receipts from the UK, while receipts from the US grew by 2,098,1 percent to 67.4 million euros and from Russia by 503.0 percent to 7.8 million euros.
Minister: The figures demonstrate the dynamic course of tourist activity
Commenting on the news, Tourism Minister Vassilis Kikilias said central bank figures demonstrate the dynamic course of tourist activity, which he attributed to the successful management of the pandemic, which helped rebrand Greece as a safe destination.
“In the current global volatility, tourism is proving to be the strong card for Greece attracting investments, strengthening the national economy, creating new jobs and supporting the average Greek family,” Kikilias said.