Negative signs are emerging for Greek tourism, as tourism revenues fell by 4.2% in July, although tourists increased by 4.1%, according to data from the Central Bank. At the same time, it appears that more tourists came this year but spend less, as tourist arrivals in the country in the 7-month period totaled 17.9826 million compared to 16.1704 million in the same period last year. However, the average spend stood at €583.9 from €618.9 in 2023, which is a negative for tourism.
TtE: Travel balance
According to the provisional data, the travel balance in July 2024 showed a surplus of 3,755.4 million euros, against a surplus of 3,951.9 million euros in the corresponding month of 2023. In particular, a decrease of 4.2% was recorded in July 2024 by travel receipts, which amounted to 4,031.4 million euros, compared to 4,208.8 million euros in the corresponding month of 2023, while an increase of 7.5% was observed in travel payments (July 2024: 276.1 million euros, July 2023: €256.8 million). The decrease in travel receipts is due to a decrease in average spend per trip by 9.1%, as inbound travel traffic increased by 4.1%. Net receipts from the provision of travel services more than offset the goods balance deficit by 132.0% and contributed 90.4% to total net receipts from services.
In the period January-July 2024, the travel balance showed a surplus of 9,308.5 million euros, compared to a surplus of 9,005.5 million euros in the corresponding period of 2023. An increase of 577.5 million euros, or 5.6%, was presented by travel receipts, which amounted to 10,952.7 million euros, while an increase of 274.5 million euros, or 20.0%, was also observed in travel payments, which amounted to 1,644.3 million euros. The increase in travel receipts was driven by an 11.2% rise in inbound travel traffic as average spend per trip fell 5.7%. Net receipts from the provision of travel services offset by 45.8% the deficit in the goods balance and contributed 81.7% to the total net receipts from services.
Travel receipts
In July 2024, as mentioned above, travel receipts decreased by 4.2% compared to the corresponding month of 2023. More specifically, a decrease of 2.9% was recorded by receipts from residents of the EU-27 countries, which were formed in 2,213.4 million euros, against 2,278.7 million euros in the corresponding month of 2023, as well as receipts from residents of other countries by 8.6% (July 2024: 1,651.8 million euros, July 2023: 1,806, 9 million euros). The decrease in receipts from residents of the EU-27 countries was a result of the decrease in receipts from residents of the euro area countries by 8.3% (July 2024: €1,621.0 million, July 2023: €1,766.9 million). euros), as receipts from residents of the EU-27 countries outside the euro area increased by 15.8% and amounted to 592.4 million euros, compared to 511.8 million euros in the corresponding month of 2023.
In particular, regarding the most important countries of origin of travelers from the euro area, receipts from Germany decreased by 9.9% and amounted to 539.9 million euros, while receipts from France decreased by 34.2% and amounted to to 229.6 million euros. Receipts from Italy also decreased by 1.5%, which amounted to 276.3 million euros. From other countries, receipts from the United Kingdom showed an increase of 1.2% to €720.1 million, while receipts from the USA decreased by 11.7% to €219.4 million. euro. Finally, receipts from Russia decreased by 52.7% to 3.2 million euros.
In the period January-July 2024, travel receipts recorded an increase of 5.6% compared to the corresponding period of 2023 and amounted to 10,952.7 million euros. This development is due to the increase in receipts from residents of the EU-27 countries by 7.6%, which amounted to 6,029.2 million euros, as well as the increase in receipts from residents of other countries by 1.5% in 4,470.3 million euros. In more detail, receipts from residents of the euro area countries amounted to 4,725.4 million euros, up by 4.0%, as well as receipts from residents of the EU-27 countries outside the euro area, which increased by 23.2% and amounted to 1,303.8 million euros.
In particular, receipts from Germany increased by 1.4% to 1,763.2 million euros, while those from France decreased by 13.8% to 675.3 million euros. Receipts from Italy increased by 20.7%, reaching 605.3 million euros. From other countries, receipts from the United Kingdom rose by 11.3% to €1,728.7 million, while receipts from the USA fell by 3.0% to €759.6 million. Finally, receipts from Russia fell by 65.2% and amounted to 8.3 million euros.
Inbound travel traffic
Inbound travel traffic in July 2024 amounted to 6,357.0 thousand travelers, increased by 4.1% compared to the corresponding month in 2023. In particular, travel traffic through airports increased by 4.7% compared to July of 2023 and this through road border stations by 3.1%. The rise in inbound travel came from a rise in travel from both EU-27 countries by 2.2% and from other countries by 7.3%. In more detail, travel traffic from the countries of the euro zone amounted to 2,425.3 thousand travelers, increased by 5.7%, while travel traffic from EU-27 countries outside the euro zone showed a decrease of 2.8 % and amounted to 1,544.4 thousand travelers.
In particular, travel traffic from Germany showed an increase of 12.3% to 838.3 thousand travelers, as did that from France, which increased by 4.3% to 388.5 thousand travelers. Travel traffic from Italy showed a decrease of 10.1%, which amounted to 402.1 thousand travelers. In relation to other countries, travel traffic from the United Kingdom increased by 11.5% to 894.5 thousand travelers and that from the USA by 0.5% to 210.2 thousand travelers. Finally, travel traffic from Russia decreased by 44.9% and amounted to 3.5 thousand travelers.
In the period January-July 2024, inbound travel traffic recorded an increase of 11.2% and amounted to 17,982,6 thousand travelers, compared to 16,170,4 thousand travelers in the corresponding period of 2023. In particular, travel traffic through airports increased by 12.0% and that through road border stations by 9.9%. During the reviewed period, travel traffic from the EU-27 countries amounted to 10,816.5 thousand travelers, showing an increase of 11.3% compared to the corresponding period of 2023, while travel traffic from other countries increased by 11.1% and amounted to 7,166.2 thousand travelers. Travel traffic from euro area countries increased by 13.6%, as did travel traffic from non-euro area EU-27 countries by 6.8%.
In particular, travel traffic from Germany increased by 13.2% and reached 2,604.6 thousand travelers, as well as that from France, which increased by 5.2% and reached 1,064.5 thousand travelers. Travel traffic from Italy was also up by 13.8%, reaching 990.7 thousand travelers. In relation to other countries, travel traffic from the United Kingdom increased by 8.1% to 2,266.1 thousand travelers, as did that from the USA, which increased by 6.9% to 788.6 thousand travelers . Finally, travel traffic from Russia decreased by 54.2% and amounted to 9.0 thousand travelers.
Source: ot.gr
#Tourism #drop #tourism #receipts #July
