Increased tourist traffic, reduced revenues, in the period January-August 2024, BoG reports

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Travel receipts in August 2024 decreased by 1.8% compared to the corresponding month of 2023, the Bank of Greece announced on Tuesday.

Conversely, in the eight months of January-August, according to Bank of Greece data, travel receipts recorded a 3.2% increase compared to the same period in 2023, reaching 15.1 billion euros.

This development was due to the 6.0% increase in receipts from residents of the EU-27 countries, which amounted to 8.5 billion euros, as receipts from residents of other countries decreased by 2.8% to 5.9 billion euros.

The number of inbound travellers in August 2024 rose by 6.6% year-on-year, to 6.908 million. Specifically, traveller flows through airports grew by 8.8% year-on-year and traveller flows through road border-crossing points rose by 3.0%. This overall increase was due to higher traveller flows from both EU (up by 8.1%) and other countries (up by 4.1%). In greater detail, the number of travellers from within the euro area rose by 12.7% to 2.8386 million, while travellers from non-euro area EU countries increased by 0.7% to 1.6005 million. Specifically, the number of travellers from Germany rose by 31.3% to 1.0085 million, as did the number of travellers from France by 14.1% to 454,000. Travellers from Italy also increased by 6.0% to 553,200. Turning to other countries, the number of travellers from the United Kingdom fell by 5.3% to 870,800 thousand, whereas travellers from the United States increased by 13.7% to 227,700 thousand. No traveller flows were recorded from Russia.

In January-August 2024, the number of inbound travellers rose by 9.9% to 24.8906 million (January-August 2023: 22.6491 million). Specifically, traveller flows through airports grew by 11.1%, as did traveller flows through road border-crossing points, by 7.7%. In the period under review, the number of travellers from within the EU27 rose by 10.3% year-on-year to 15.2555 million, while travellers from other countries increased by 9.2% to 9.6351 million. The number of travellers from within the euro area rose by 13.4% and travellers from non-euro area EU countries increased by 4.8%.

Specifically, the number of travellers from Germany rose by 17.7% to 3.6131 million, as did the number of travellers from France, by 7.7% to 1.5185 million. Travellers from Italy also increased, by 10.9% to 1.5439 million. Turning to other countries, the number of travellers from the United Kingdom rose by 4.0% to 3.1369 million, while the number of travellers from the United States increased by 8.4% to 1.0163 million. Finally, the number of travellers from Russia fell by 64.9% to 9,000.

Source: ANA – MPA

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