Arrivals of non-resident travelers increased by 6.9% year-on-year in June, while travel receipts rose by just 1.2%, according to Bank of Greece data. [Shutterstock]
Greek tourism saw visitor numbers rise significantly in June, but the increase in tourism revenues was much weaker, according to Bank of Greece data for the balance of payments.
Arrivals of non-resident travelers increased by 6.9% year-on-year in June, while travel receipts rose by just 1.2%. The gap suggests that visitors spent less on average during the month, although the Bank of Greece’s initial data do not yet provide a precise figure for per-capita spending.
More details are expected Friday, when the Bank of Greece is due to release its full travel balance figures. Market sources point to a possible decline in the average length of stay. Travelers across Europe are reportedly maintaining similar holiday budgets to last year but reducing the number of days they spend away, as higher prices put pressure on household finances.
The weaker performance of tourism receipts also affected Greece’s overall services balance in June. The surplus declined compared with a year earlier, as the modest rise in tourism income was not enough to offset weaker results in other areas, particularly transport.
