January-February Tourism Revenues in Greece Up by 24.5%

Photo source: Region of Attica

Tourism-related revenues for Greece increased by 24.5 percent in the first two months of the year and by 22.2 percent in February demonstrating an extended tourism season, according to data released this week by the Bank of Greece (BoG).

In January and February some 1,458.6 thousand travelers generated a total of 569.7 million euros in travel receipts marking a 24.5 percent rise over the same months a year earlier.

BoG analysts attribute the increase to a 60.2 percent rise in spending by EU travelers to 303.9 million euros despite the 0.9 percent drop to 260.8 million euros by non-EU nationals.

Source: Bank of Greece

Leading markets in terms of spending in the two months were those of Germany with receipts up by 48.7 percent to 58.7 million euros and the US up by 20.9 percent to 46.0 million euros. Travel receipts dropped from France by 12.9 percent to 34.1 million euros and the UK by 11.7 percent to 33.2 million euros, while no receipts were recorded from Russia.

In February, 721.3 thousand arrivals pushed travel receipts up by 22.2 percent year-on-year with travelers from the EU boosting revenues by 57.3 percent to 154.8 million euros. Receipts by non-EU nationals dropped in February by 2.7 percent to 134.3 million euros down from 138.0 million euros in the same month in 2023.

Markets driving the increase in receipts in February were Germany up by 65.5 percent to 29.7 million euros. Slowing down, travel receipts from France dropped by 50.1 percent to 14.1 million euros, the UK by 30.8 percent to 13.2 million euros, and the US by 4.3 percent to 23.0 million euros. No receipts were recorded from Russia.