Tourism revenues showed an increase of 30.7% in the five months January-May and 32.9% of incoming tourist traffic according to the figures of the Central Bank.

In addition, the travel balance showed a surplus of €1,538.9 million in May 2023 and €2,330.4 million in the same period.

More detailed

According to the provisional data, the travel balance in May 2023 showed a surplus of 1,538.9 million euros, compared to a surplus of 1,204.0 million euros in the corresponding month of 2022.

In particular, by 24.8%, travel receipts were recorded in May 2023, which stood at EUR 1,748.1 million, compared to EUR 1,400.7 million in the corresponding month of 2022, while an increase of 6.4% was observed in travel payments (May 2023: 209.2 million euros, 2022 million). The increase in travel receipts was driven by a 13.9% increase in inbound travel traffic, as well as a 9.0% increase in average spend per trip. Net receipts from the provision of travel services offset 51.0% of the deficit in the goods balance and contributed 89.0% to total net receipts from services.

In the period January-May 2023, the travel balance showed a surplus of 2,330.4 million euros, compared to a surplus of 1,783.4 million euros in the corresponding period of 2022. An increase of 761.3 million euros (30.7%) was shown by travel receipts, which amounted to 3,244.3 million euros, while an increase of 214.2 million euros. euros (30.6%) was also observed in travel payments, which amounted to 913.9 million euros. The rise in travel receipts was driven by a 32.9% increase in inbound travel traffic as average spend per trip fell by 2.4%. Net receipts from the provision of travel services offset by 18.4% the deficit in the goods balance and contributed 64.5% to the total net receipts from services.

Travel receipts

In May 2023, as mentioned above, travel receipts increased by 24.8% compared to the corresponding month of 2022. More specifically, receipts from residents of the EU-27 countries increased by 22.4%, amounting to 997.2 million euros, while receipts from residents of non-EU-27 countries increased by 27.0% (May 20 23: €678.9 million, May 2022: €534.7 million). The rise in receipts from residents of the EU-27 countries was the result of a 20.8% increase in receipts from residents of the euro area countries (May 2023: €871.1 million, May 2022: €720.9 million), as well as receipts from residents of the EU-27 countries outside the euro area by 34.6% to €126.2 million. In particular, with regard to the most important countries of origin of travelers from the euro area, receipts from Germany increased by 29.2% and amounted to 417.4 million euros and those from France by 42.5% to 160.7 million euros. From countries outside the EU-27, receipts from the United Kingdom rose by 3.0% to €262.3 million, while those from the USA increased by 48.1% to €159.2 million. Collections from Russia increased by 575.0% and amounted to 4.0 million euros.

In the period January-May 2023, travel receipts showed an increase of 30.7% compared to the corresponding period of 2022 and amounted to 3,244.3 million euros. This development is due to the increase in receipts from residents of EU-27 countries by 21.5%, which amounted to 1,699.7 million euros, as well as receipts from residents of countries outside the EU-27 by 41.2%, which amounted to 1,416.4 million euros. In more detail, receipts from residents of the euro zone countries amounted to 1,461.6 million euros, increased by 18.9%, while receipts from residents of the EU-27 countries outside the euro zone showed an increase of 40.4% and amounted to 238.1 million euros. In particular, receipts from Germany increased by 19.5% and amounted to 601.8 million euros, while receipts from France increased by 37.0% and amounted to 281.9 million euros. From the countries outside the EU-27, receipts from the United Kingdom rose by 7.5% to 398.7 million euros. Collections from the USA increased by 71.5% to 306.4 million euros, while those from Russia decreased by 2.9% to 7.8 million euros.

Inbound travel traffic

Inbound travel traffic in May 2023 amounted to 2,512.8 thousand travelers, increased by 13.9% compared to the corresponding month of 2022. In particular, travel traffic through airports increased by 14.2% compared to May 2022 and that through road border stations by 9.8%. The increase in inbound travel came from a rise in travel from both EU-27 countries by 12.7% and from non-EU-27 countries by 15.8%. In more detail, the travel traffic from the countries of the euro zone amounted to 1,170.1 thousand travelers, increased by 9.2%. Travel traffic from the EU-27 countries outside the euro area also showed a 27.2% increase, reaching 333.4 thousand travelers. In particular, travel traffic from Germany showed an increase of 17.4% and reached 513.2 thousand travelers, while that from France increased by 28.6% to 204.5 thousand travelers. In relation to the countries outside the EU-27, travel traffic from the United Kingdom decreased by 10.2% and amounted to 368.9 thousand travelers, while that from the USA increased by 62.5% to 154.1 thousand travelers. Finally, travel traffic from Russia showed an increase and amounted to 3.0 thousand travelers.

In the period January-May 2023, incoming travel traffic increased by 32.9% and amounted to 5,759.5 thousand travelers, compared to 4,333.9 thousand travelers in the corresponding period of 2022. In particular, travel traffic through airports increased by 26.2%, while that through road border stations by 57.6%. During the reviewed period, travel traffic from EU-27 countries amounted to 3,200.1 thousand travelers, showing an increase of 26.6% compared to the corresponding period of 2022, while travel traffic from non-EU-27 countries increased by 41.7% and amounted to 2,559.5 thousand travelers. Travel traffic from euro area countries increased by 18.6%, while travel traffic from EU-27 countries outside the euro area increased by 54.6%. In particular, travel traffic from Germany increased by 17.9% and reached 870.9 thousand travelers, while that from France increased by 31.5% and reached 401.0 thousand travelers. With reference to the countries outside the EU-27, travel traffic from the United Kingdom increased by 2.3% to 639.9 thousand travelers and that from the USA by 83.3% to 319.0 thousand travelers. Finally, travel traffic from Russia decreased by 33.2% and amounted to 7.7 thousand travelers.

At 5.76 million, the number of tourists in the five months of January-May

Meanwhile, inbound tourism saw a 32.9% increase in the five months of January-May, as the number of visitors reached 5.76 million, up from 4.34 million in the corresponding period of 2022.

This development, according to data from the Bank of Greece, resulted in travel receipts showing an increase of 30.7% to 3.244 billion euros.

In more detail, with regard to incoming travel traffic, through airports, it increased by 14.2% compared to May 2022 and that through road border stations by 9.8%. The increase in inbound travel came from a rise in travel from both EU-27 countries by 12.7% and from non-EU-27 countries by 15.8%.

More specifically, in the January-May 2023 period, inbound travel traffic was 5.76 million travelers, compared to 4.33 million travelers in the corresponding period of 2022.

In particular, travel traffic through airports increased by 26.2%, while that through road border stations by 57.6%. In the period under review, travel traffic from EU-27 countries amounted to 3.2 million travelers, showing an increase of 26.6% compared to the corresponding period in 2022, while travel traffic from non-EU-27 countries increased by 41.7% to 2.56 million travelers. Travel traffic from euro area countries increased by 18.6%, while travel traffic from EU-27 countries outside the euro area increased by 54.6%. In particular, travel traffic from Germany increased by 17.9% and reached 870.9 thousand travelers, while that from France increased by 31.5% and reached 401.0 thousand travelers. With reference to countries outside the EU 27, travel traffic from the United Kingdom increased by 2.3% to 639.9 thousand travelers and that from the USA by 83.3% to 319.0 thousand travelers. Finally, travel traffic from Russia decreased by 33.2% and amounted to 7.7 thousand travelers.

As regards receipts, a 21.5% increase was recorded from residents of the EU-27 countries, which amounted to 1.7 billion euros, as well as a 41.2% increase in receipts from residents of non-EU-27 countries, which amounted to 1.4 billion euros. In more detail, receipts from residents of the euro zone countries amounted to 1.461 billion. euros, increased by 18.9%, while receipts from residents of EU-27 countries outside the euro zone showed an increase of 40.4% and amounted to 238.1 million euros. In particular, receipts from Germany increased by 19.5% and amounted to 601.8 million euros, while receipts from France increased by 37.0% and amounted to 281.9 million euros. From the countries outside the EU-27, receipts from the United Kingdom rose by 7.5% to 398.7 million euros. Collections from the USA increased by 71.5% to 306.4 million euros, while those from Russia decreased by 2.9% to 7.8 million euros.