Travel receipts took an unexpected turn in July, largely surprising the factors of tourism.
At the “peak” of the tourist season, revenues fell by 220.4 million euros mainly due to the significant decrease in spending by tourists from the Eurozone countries (-8.3%) and the USA (-11.7%) .
The friendly forces and the Italians
The “friendly” forces of Greek tourism, namely the The British, the French and the Americans they spent this year in July much less from last year per trip with the sole exception of the Italians (who according to many were the surprise).
On the contrary, mainly tourists from countries outside the euro zone from the Balkan and Eastern European countries they spent this July 15.8% more from the corresponding period last year.
The average spend
Presenting the travel balance of July and the seven months of 2024 yesterday, the Bank of Greece noted that the average expenditure per trip decreased by 5.7% in July to 583.9 euros, while the seven months suffered a decrease of 9.1% to 608 euros.
In July 2024, as mentioned above, travel receipts decreased by 4.2% compared to the corresponding month of 2023, to 4,031.4 million euros, compared to 4,208.8 million euros in the corresponding month of 2023,
In the seven-month period, travel receipts amounted to 10,952.7 million euros, by 577.5 million euros, or 5.6%, compared to the corresponding period last year.
At the same time, of course, inbound travel traffic increased by 4.1% in July 2024 to 6.357 million tourists and in the seven-month period by 11.2% to 17.982 million tourists compared to 16.170 million tourists in the same period last year.
At the top are the British
According to the Ministry of Finance July they spent the most money the British (720.1 million euros) and they follow the Germans with 539.9 million euros and the Italians with 276.3 million euros.
In the seven months, the most money in Greece was spent by German tourists around 1,763.2 million euros, followed by the British with 1,728.7 million euros and the Americans (USA) with 759.6 million euros.
However, especially in the month of July, apart from the Italians, those coming from the aforementioned countries under consideration had a very tight wallet.
The average per capita expenditure of the French was limited to 590 euros compared to 936.91 euros in July 2023, the German to 644.04 euros compared to 802.92 euros last year, the American to 1,043.76 euros compared to 1,188.42 euros last year and the British pound to 805.03 euros compared to 887.28 euros last year.
Is it their fault?
Experts in the tourism sector who closely monitor the figures note to ot.gr that a more thorough study is needed to explain the decrease in travel spending in July.
Something that, as they say, had been observed for many years, adding of course that the difference given by the survey, which is a sample, is very small.
Cost containment
In any case, however, it is obvious that there is a restraint on the spending of tourists, a fact that is also confirmed by what hotel and catering businessmen have reported since the beginning of the season in almost all destinations.
As mentioned, the decrease in revenue is due to the decrease in spending by foreign travelers due to the recession prevailing in the major European markets and the drop in consumer confidence.
Also, the average expenditure per trip is also related to the duration of the vacation. In recent years there has been a tendency to decrease the number of holiday days for tourists due to the general economic situation in the European economy.
The effects of Airbnb
Hotel operators also note that the government’s choice to strengthen the presentation of short-term rentals with the occupants of these accommodations “cooking spaghetti every day in the accommodation they rent” reduces the average spend.
The increased revenues of supermarkets in tourist areas attest to this trend, they add.
In any case, as the experts emphasize, a new increase in travel receipts is expected this year, as in order for this not to happen, the reduction in receipts from August until the end of the year should be more than 5% compared to last year.
Source: ot.gr
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