Bank of Greece: Arrivals Up By 17% In January-May 2014

Photo © Maria Theofanopoulou

Greece’s travel balance showed a surplus of 1.13 million euros during the January-May 2014 period, compared with a surplus of 1.06 million euros in the corresponding period of 2013, according to the Bank of Greece.

This development is attributed to a 10.6 percent increase (186 million euros) in travel receipts and a rise by 115 million euros in travel payments in the five-month period.

Tourist arrivals grow

Tourist arrivals in Greece were up by 17 percent in the January-May 2014 period, while average spending per trip dropped by 5.4 percent or 30 euros in the same period.

In regards to May 2014, the travel balance showed a surplus of 897 million euros against 868 million euros during the same month in 2013 (3.4 percent increase).

In particular, travel receipts (which now include revenue from cruise journeys) increased by 0.8 percent (8 million euros) to 1.07 million euros against 1.06 million euros in the same month of 2013. Moreover, travel payments dropped by 21 million euros or 11 percent (May 2014: 173 million euros, May 2013: 195 million euros).

The increase in travel receipts in May was due to the increase in arrivals by 12.6 percent, as the average spending per trip dropped by 10.6 percent.