Tourists Visiting Greece in 2023 Generate €20.5bn in Revenues

Photo source: Athens Development and Destination Management Agency

Tourists who visited Greece in 2023 generated 20.5 billion euros in revenues, a 15.7 percent increase over 2022, found data released on Wednesday by the Bank of Greece (BoG).

The number of incoming travelers grew by 17.6 percent last year boosting travel receipts to 20,459.5 million euros, supported in large part non-EU residents.

More specifically, revenues generated by travelers from outside the EU increased by 18.5 percent over 2022 to 8,591.5 million euros and by 11.5 percent to 11,158.3 million euros generated by EU residents.

The highest spenders were travelers from the US with receipts up by 14.0 percent to 1,367.6 million euros, followed by the French (+11.6 percent to 1,425.4 million euros), the Germans (+9.5 percent to €3,563.8 million), and the Brits (+5.8 percent to 3,307.8 million euros).

Source: Bank of Greece

In the last month of the year, travel receipts increased by 41.5 percent over a year earlier and inbound traveler flows grew by 32.0 percent.

EU residents drove tourism-related revenues up in December 2023 to 161.1 million euros marking a 64.5 percent rise while spending by non-EU nationals increased by 23.2 percent to 172.2 million euros.

Key source markets driving travel receipts upward for the month were: Germany marking a significant 110.5 percent rise to 52.9 million euros, Russia  up by 106.6 percent to 1.3 million euros, and France (+10.9 percent to 12.4 million euros).

Dropping in December were revenues generated by UK travelers (-19.1 percent to 21.1 million euros) and the US (-27.6 percent to 23.4 million euros).