Of Chrysostom Chufi

The confessed frustrating second quarter of 1.7% of the rate of growth as announced it based on the preliminary data available to ELSTAT, did not …. The Treasury drove. That is why he did not rush as it has happened in the past to change his forecasts for the final goal, leaving it to 2.3%.

Given that now in the first half of the year, the Greek economy ran at a rate of 1.95%, so that at the end of the year, 2.3%will have to reach 2.65%from July to December. Based on the above months of September and October, they are considered key to the contribution of tourism to the country’s GDP and the available data according to the INSUS database allow some optimism.

Data on September and October exclusively on air arrivals show that 7.57m is expected in our country. tourists. An increase of 4.2% compared to the corresponding period last year and 7.27cm. euro tourists.

But the elements are also encouraging as we wait for tourists who … put their hand in his pocket. In 2024 the average expenditure per visitor in our country was 573 euros.

But September and October the data shows:

  • 22% of US arrivals with average expense to 1,024 euros
  • An increase of 17.3% of arrivals from Israel from which average expenditure is 676 euros
  • Increase 11.4% from Spain with an average expense of 637 euros
  • Increase 18.5% from Sweden with an average expense of 612 euros
  • Almost twice as many Chinese (48.4%). China in statistics is placed in other countries which also spend more than average (609 euros)
  • 15.9% increase from Saudi Arabia. Applies to China
  • 5.5% increase from Canada. Canadians are the “best customers” with an average expense of 1,260 euros
  • But we also expect flows from more “traditional” markets that also spend more than average such as:

Netherlands +7.7%, 699 euros
UK +1.9%, 695 euros
Germany +3.3%, 685 euros
Austria +6.2%, 682 euros
France +1.8%, 632 euros
Italy +3.2%, 605 euros

These figures are added to a “mixed” semester, where according to Bank of Greece data, visitors increased only 0.6% or 62,000 to € 11.92m.

The receipts nevertheless – and despite the grumbling of catering professionals – increased by 11% or 760m. Euro and had reached 7.66 billion euros.

Based on the above, the omen are good that tourism will … do its job and eventually bring more than 36m travelers and more than 20.5 billion euros of receipts.

Of course, it is not enough for tourism to stand up to catch the goals of growth.

In an economy where its locomotive is unfortunately still consumption must in the coming months show much greater than 1% of the first quarter (we had a decrease on a quarterly basis). And certainly exports should not move with a rather slim 1.9%.