Bank of Greece: Tourist arrivals leap in June

The data on the course of Greek tourism are particularly positive, something that fills the government with optimism in view of the difficult conditions that are to follow.

According to today’s data from the Bank of Greece, travel receipts in the country reached 94.7% of 2019 levels in the first half of 2022, while in June they exceeded 2019 levels, reaching 2.6 billion euros. In the same month, arrivals were up almost 2.5 times.

According to the Bank of Greece, travel receipts from the first half of 2022 amounted to 5.12 billion euros, up by 329% compared to the corresponding half of 2021.

At the same time, the arrivals of non-resident travelers increased by 360.8% and the related receipts by 329.3% compared to the corresponding period, while the net receipts from transportation showed an increase by 27.6%.

The picture in June

As of June 2022, arrivals were at 89% of 2019 levels, while receipts exceeded the corresponding level at €2.6 billion.

Compared to June 2021, arrivals increased by 241.5% and related receipts by 224.5%.

Estimates and forecasts

It is worth noting that the Ministry of Finance expects tourism revenues to significantly boost the state’s safety net. Already, the receipts have boosted revenues as the tourist season started earlier this year and is even expected to extend the season well into the fall. State coffers are “preparing” for an August with record tourism receipts, and it is estimated that revenues will exceed those of 2019, thus strengthening the buttressing for the new government support measures in view of the difficult, energy price winter.

The figures for this summer reflect the rebound of Greek tourism and forecasts show that receipts will rise above 2019’s 18 billion euros, over and above the Finance Ministry’s initial estimates, which were close to 15 billion euros. In 2021 – when the planet was still moving at the pace of the health crisis – tourism also supported government revenues. At that time, receipts reached 10.5 billion euros while in 2018 they reached 16 billion euros. According to the data of the Bank of Greece, in 2019 travel traffic reached 34 million travelers and the average expenditure per traveler was around 500 euros. In 2021 travelers were 15.2 million euros and the average expenditure reached 690 Euros.

Dynamic growth

The Ministry of Tourism estimates that more than 1,000,000 visitors from abroad are expected in every week of August and according to Greece tourism intelligence unit – INSETE data, from August 15 to 21, 960 thousand seats are booked on incoming international flights. The figures reflect the dynamic growth in tourism, particularly from major markets. The top two inbound tourism markets, Germany and Britain, in July 2022 are moving above July 2019 in many destinations such as Rhodes, where German travelers are +24.6% and British travelers +21%, and Chania with German visitors at +78.3% and the British at +43.2%. In “Eleftherios Venizelos”, also, in July 2022 compared to July 2019, 29% more arrivals were recorded from Germany, 15% more from France, 19% more from Israel, 257% more from Serbia and 177% more from Turkey.