Bank of Greece reports a decline in travel receipts from 2016 despite increase in tourists

Posted by Christian J. Hadjipateras 03/05/2017 0 Comment(s) Economia Blog,

A recently released report from the Bank of Greece showed a somewhat surprising decline in travel receipts in 2016 in spite of an increase in tourism. 

 

Travel receipts totalled some €13.2 billion, a 6.5% decrease, although tourist arrivals rose by 7.5%. The decline in receipt was mainly because of a decrease in from outside the European Union. Receipts from within the EU also fell.

 

In contrast, the number of visitors in 2016 rose to 28.071 million in comparison to 26.114 million from the previous year. Visitors from within the EU rose 15%, which accounted for 61.3% of the total number. Visitors from non-EU counties did however drop by 12.1%, which accounted for 27% of the total.

 

Tourism for 2017 is forecast to surpass the previous year. Already, Greece’s main national carrier Aegean Airlines and Olympic Air (a subsidiary of Aegean) reported an increase of 5% in passenger traffic during the first quarter of 2017, reaching 2.1 million passengers.

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