Turnover Index in Greek Tourism Sector Up in Q2 2018

The turnover index in Greece’s accommodation and food service activities sector increased by 11.5 percent during the second quarter of 2018, compared with the same period in 2017, according to the Hellenic Statistical Authority (ELSTAT).

The data also showed that the index for the corresponding period of 2017 as compared to 2016 increased by 7.3 percent.

Meanwhile, ELSTAT’s data showed that turnover index in the sector during the second quarter of 2018 as compared to the first quarter of the year, increased by 140.9 percent while an increase by 139.6 percent was recorded when comparing the corresponding period of 2017, which reflects the intense seasonality of the sector.

The turnover indices in services are important business indicators, which show the evolution of the services market. The objective of these indices is to calculate the activity of the surveyed sector in value terms. Turnover comprises the totals invoiced by the observation unit during the reference period (quarter) and corresponds to the market sales of goods and services supplied to third parties. Subsidies on goods or services are also included.