SETE Clarifies Tourism Data Terms

The Association of Greek Tourism Enterprises recently clarified the confusion created on the use of the terms “tourism revenue” and “turnover index for tourism.”

According to the association, the “turnover index for tourism” calculates the total amount of income invoiced by enterprises and corresponds to the sales of goods and services of accommodation and dining that have been supplied to third parties, residents and non-residents.

On the other hand, “tourism revenue” is the expenditure of non-residents for the provision of direct and indirect tourism services and selling of goods in Greece.

The association underlined that it is obvious that both indicators are different and therefore there is no reason to compare them.

According to the National Statistical Service of Greece, the turnover index for tourism decreased by 4.1 percent in the first quarter of 2009 compared with the same period of 2008.

Meanwhile, the Bank of Greece showed tourism revenue for January-April 2009 to be reduced by 11.6 percent against the same 2008 period.

The association underlined that the appropriate index for the calculation of tourism revenue are the receipts added up by the Bank of Greece, which follows the tactic introduced by the International Monetary Fund, the World Tourism Organization and the Organization for Economic Cooperation and Development.