Greece’s 9-month Travel Receipts Increase by 15.2% to €17.9 Billion

Reflecting a strong tourism dynamic, travel receipts in Greece in the first nine months of the year increased by 15.2 percent over the same period in 2022 driven by a 17.3 percent rise in inbound traveler flows to 27.7 million despite a 2.5 percent drop in spending per trip, revealed data  released by the Bank of Greece (BoG) this week.

More specifically, travel receipts in the January-September 2023 came to 17.9 billion euros, marking a 15.2 percent rise over 2022. BoG analysts attribute the increase to strong spending by EU residents, up by 11.7 percent to 9,981.6 million euros and by non-EU nationals up by 18.3 percent to 7,458.8 million euros.

Strong spenders were travelers from Germany, with receipts up by 4.4 percent, from France (+10.6 percent), from the UK (+6.8 percent), and from the US (+13.5 percent). Travel receipts from Russia dropped by 23.8 percent.

Source: Bank of Greece

In September, travel receipts increased by 14.6 percent generated by a 12.7 percent rise in tourist arrivals and 1.6 percent increase in average spending per trip.

More specifically in September, travel receipts rose by 14.6 percent over the same month a year ago driven in large part by increased spending by travelers from the EU up by 21.1 percent to 1,826.2 million euros and by non-EU nationals up by 6.7 percent.

Higher-spending markets in September included Germany with receipts up by 19.0 percent to 619.7 million euros and the UK up by 14.2 percent to 654.5 million euros.

Travel receipts dropped in September from the US by 22.7 percent to 177.7 million euros, from Russia by 88.2 percent to 1.3 million euros, and from France by 11.0 percent to 154.4 million euros.