Tourists to Greece Generate €17.63bn in Travel Receipts in 2022

Tourists at the Acropolis, Athens. Photo source: Greek Tourism Ministry

The number of arrivals to Greece in 2022 increased by 89.3 percent to 27,835.5 thousand up from 14,704.9 thousand in 2021 generating 17.63 billion euros in travel receipts or a 67.9 percent rise over a year earlier, according to the Bank of Greece (BoG). Greece’s tourism revenue remained down by 3.0 percent compared to pre-Covid 2019, and 18.18 billion euros

Spending per trip declined by 11.9 percent in 2022 over 2021 but exceeded 2019 levels by 9.7 percent.

More specifically, travel receipts last year generated by EU residents were up by 46.8 percent to 9,977.7 million euros and by non-residents by 105.2 percent to 7,245.9 million euros.

Source: BoG.

Markets marking increases in travel receipts were Germany up by 40.6 percent to 3,255.2 million euros, France, by 27.9 percent to 1,268.0 million euros, the UK up by 113.1 percent to 3,123.4 million euros, and the US by 100.6 percent to 1,195.7 million euros.

In 2022, the number of inbound travelers increased by 89.3 percent but was down by 11.2 percent compared to 2019. Traveler flows through airports was up by 81.5 percent and via road border-crossing points up by 133.1 percent.

Travelers from within the EU increased by 67.9 percent year-on-year to 16,994.9 thousand, while visitors from outside the EU rose by 136.6 percent to 10,840.7 thousand.

Key source markets last year were those of Germany up by 45.0 percent, France (49.6 percent), the UK (181.9 percent) and the US (174.9 percent).

According to central bank data, travel receipts in December 2022 increased by 32.8 percent to 247.1 million euros from 186.1 million euros in December 2021 but down by 16.1 percent over 2019 although the average expenditure per trip increased by 0.5 percent.

BoG analysts attribute the rise to a 52.5 percent increase in arrivals, despite the 14.2 percent drop in average expenditure per trip.

Source: BoG.

Inbound traveler flows in December 2022 rose by 52.5 percent to 580.1 thousand but were down by 16.2 percent compared to 2019.

In the January-November 2022 period, the number of inbound travelers to Greece increased by 90.3 percent over the same period in 2021 to 27,255.4 thousand driving travel receipts up by 68.5 percent to 17.3 million euros.