Tourists Not Spending Enough Money in Greece

All the more tourists to Greece are taking their holidays on the cheap with average spending down by 8.9 percent at 597.9 euros per trip in July, according to data released by the Bank of Greece on Wednesday.

Average spending per trip dropped by 6.3 percent at 542.1 euros in the January-July period and by 8.9 percent or 597.9 euros in July, the Bank of Greece said.

In the first seven months of the year, the travel account showed a surplus of 5.6 billion euros down by 6.3 percent compared to the same period in 2015. The central bank cites the reduction in travel receipts by 346 million euros or 4.8 percent and the increase in travel payments by 33 million euros or 2.9 percent for the drop. Shrinking travel receipts, meanwhile, are due to the reduction in average spending per trip, as arrivals rose by 1.1 percent.

Indicatively, French tourists spent 14.8 percent less on their travels to Greece this year, followed by the Germans at 15.4 percent, the British with 14.7 percent and American travelers by 3.8 percent, while Russian holidaymakers dug deeper into their pockets with spending up by 1.5 precent.

At the same time, travel receipts for July fell by 3.5 percent with earnings from French tourists down by 7.5 percent, by 18.9 percent from German tourists and plunging by 35.6 percent by British vacationers. Takings from US tourists rose by 4.9 percent and by 14.4 percent from Russian holidaymakers.