An increase in tourism revenues by 12.2% to 6.921 billion euros and arrivals by 15.5% to 11.625 million was recorded in the first half of 2024 compared to the corresponding period of 2023, according to data from Bank of Greece (TtE) for the travel balance.

In June, tourist receipts increased by 7.7% to 3.115 million euros and arrivals by 8.8% to 4.681 million.

The average expenditure of tourists was reduced by 3.3% to 570.5 euros in the first half and by 1.4% in June.

Most revenue in the first half came from German tourists (over €1.2 billion), with the British following with just over €1 billion and the Americans in third place with €540 million.

In particular, the announcement of the Bank of Greece states:

The travel balance showed a surplus of €2,861.7 million in June 2024 and €5,553.1 million in the January-June 2024 period.

Travel receipts increased by 7.7% in June 2024 and by 12.2% in the period January-June 2024.

Inbound travel traffic increased by 8.8% in June 2024 and by 15.5% in the period January-June 2024.

Travel balance

According to the provisional data, the travel balance in June 2024 showed a surplus of 2,861.7 million euros, compared to a surplus of 2,680.7 million euros in the corresponding month of 2023. In particular, an increase of 7.7% was recorded in June 2024 by travel receipts, which amounted to 3,115.0 million euros, compared to 2,891.3 million euros in the corresponding month of 2023, while a 20.2% increase was also observed in travel payments (June 2024: 253.3 million euros, June 2023: €210.6 million).

The increase in travel receipts was driven by an 8.8% rise in inbound travel traffic as average spend per trip fell 1.4%. Net receipts from the provision of travel services more than offset the goods balance deficit by 115.6% and contributed 89.7% to total net receipts from services.

In the period January-June 2024, the travel balance showed a surplus of 5,553.1 million euros, against a surplus of 5,053.5 million euros in the corresponding period of 2023.

Travel receipts showed an increase of 754.8 million euros (12.2%), which amounted to 6,921.3 million euros, while an increase of 255.3 million euros (22.9%) was also observed in travel payments , which amounted to 1,368.2 million euros. The rise in travel receipts was driven by a 15.5% increase in inbound travel traffic as average spend per trip fell by 3.1%. Net receipts from the provision of travel services offset by 31.8% the deficit in the goods balance and contributed 76.8% to the total net receipts from services.

Travel receipts

In June 2024, as mentioned above, travel receipts increased by 7.7% compared to the corresponding month of 2023. More specifically, a 4.6% increase was recorded in receipts from residents of the EU-27 countries, which were formed in 1,713.0 million euros against 1,636.9 million euros in the corresponding month of 2023, as well as receipts from residents of other countries, which increased by 11.0% (June 2024: 1,275.4 million euros, June 2023: 1,148.9 million euros).

The rise in receipts from residents of the EU-27 countries was a result of the increase in receipts from residents of the EU-27 countries outside the euro area by 34.5% (June 2024: €427.6 million, June 2023: 317.9 million euros), as receipts from residents of the euro zone countries decreased by 2.6% and amounted to 1,285.3 million euros, compared to 1,319.0 million euros in the corresponding month of 2023.

In particular, regarding the most important countries of origin of travelers from the euro area, receipts from Germany decreased by 1.4% and amounted to 522.9 million euros, while receipts from France increased by 1.0% and amounted to to 163.9 million euros. Receipts from Italy also rose by 12.9%, reaching 144.9 million euros. From the other countries, receipts from the United Kingdom showed an increase of 42.5%, which amounted to 608.9 million euros, while receipts from the USA decreased by 32.8% and amounted to 143.1 million. euro. Finally, receipts from Russia decreased by 60.2% to 2.5 million euros.

In the period January-June 2024, travel receipts recorded an increase of 12.2%, compared to the corresponding period of 2023, and amounted to 6,921.3 million euros. This development is due to the increase in receipts from residents of the EU-27 countries by 14.8%, which amounted to 3,815.8 million euros, as well as the increase in receipts from residents of other countries by 8.4% in 2,818.6 million euros. In more detail, receipts from residents of the euro zone countries amounted to 3,104.4 million euros, increased by 11.8%, while receipts from residents of the EU-27 countries outside the euro zone also increased by 30, 1% and amounted to 711.4 million euros.
In particular, receipts from Germany increased by 7.4% to 1,223.3 million euros, as did those from France, by 2.5% to 445.7 million euros. Receipts from Italy also increased by 48.8%, reaching 329.0 million euros. From other countries, receipts from the United Kingdom rose by 19.9% ​​to €1,008.6 million, while receipts from the US increased by 1.0% to €540.1 million. Finally, receipts from Russia decreased by 70.1% and amounted to 5.2 million euros.

Inbound travel traffic
Inbound travel traffic in June 2024 amounted to 4,681.8 thousand travelers, increased by 8.8% compared to the corresponding month of 2023. In particular, travel traffic through airports increased by 9.3% compared to June of 2023, as well as this through road border stations, by 8.0%. The rise in inbound travel came from the rise in travel from both EU-27 countries by 7.3% and from other countries by 11.3%. In more detail, the travel traffic from the countries of the euro zone amounted to 1,818.3 thousand travelers, increased by 2.1%. Travel traffic from the EU-27 countries outside the euro area also showed an increase of 18.2%, which amounted to 1,010.3 thousand travelers.

In particular, travel traffic from Germany increased by 2.5% and reached 701.8 thousand travelers, while that from France decreased by 13.5% to 206.7 thousand travelers. Travel traffic from Italy also increased by 10.3%, which amounted to 235.4 thousand travelers. In relation to the other countries, travel traffic from the United Kingdom increased by 7.8% to 705.8 thousand travelers, while that from the USA decreased by 11.2% to 185.9 thousand travelers. Finally, travel traffic from Russia decreased by 48.5% and amounted to 2.9 thousand travelers.

In the January-June 2024 period, inbound travel traffic recorded a 15.5% increase and amounted to 11,625.6 thousand travelers, compared to 10,061.8 thousand travelers in the corresponding period of 2023.

In particular, travel traffic through airports increased by 16.1%, as well as that through road border stations, by 15.2%. During the reviewed period, travel traffic from the EU-27 countries amounted to 6,846.8 thousand travelers, showing an increase of 17.3% compared to the corresponding period of 2023, while travel traffic from other countries increased by 13.1% and amounted to 4,778.8 thousand travelers. Travel traffic from euro area countries increased by 18.0%, as well as travel traffic from EU-27 countries outside the euro area by 15.7%.

In particular, travel traffic from Germany increased by 13.6% and amounted to 1,766.2 thousand travelers, while that from France increased by 5.6% and amounted to 676.1 thousand travelers. Travel traffic from Italy was also up by 39.1%, reaching 588.6 thousand travelers.

In relation to the other countries, travel traffic from the United Kingdom increased by 6.0% to 1,371.6 thousand travelers, while that from the USA increased by 9.5% to 578.4 thousand travelers. Finally, travel traffic from Russia decreased by 58.6% and amounted to 5.5 thousand travelers.