Estimates of a new record year for Greek tourism are confirmed by Bank of Greece data on travel receipts, which increased by 34.2% in March 2024 compared to March last year and by 28.2% in the period January–March 2024.

Based on provisional data, the balance of travel services in March 2024 showed a surplus of €136.6 million, up from a surplus of €122.5 million in March 2023. More specifically, travel receipts in March 2024 rose by 34.2% to €372.3 million, from €277.5 million in March 2023, while travel payments also increased by 52.1% (March 2024: €235.6 million; March 2023: €154.9 million). The rise in travel receipts is attributed to a 31.2% increase in inbound traveller flows as well as a rise of 3.2% in average expenditure per trip. Net travel receipts offset 5.3% of the goods deficit and contributed 34.0% to total net receipts from services.

In January–March 2024, the balance of travel services showed a surplus of €366.6 million, up from a surplus of €293.3 million in the same period in 2023. Travel receipts rose by €207.0 million, or 28.2%, to €942.0 million, while travel payments also increased by €133.7 million, or 30.3%, to €575.4 million. The rise in travel receipts is attributed to a 24.5% increase in inbound traveller flows and a 3.4% rise in average expenditure per trip. Net travel receipts offset 4.4% of the goods deficit and contributed 30.2% to total net receipts from services.

TRAVEL RECEIPTS

In March 2024, as mentioned previously, travel receipts rose by 34.2% year-on-year. In more detail, receipts from residents of EU27 countries increased by 30.3% to €166.2 million, up from €127.5 million in March 2023, as did receipts from other countries, which grew by 40.3% (March 2024: €190.6 million; March 2023: €135.8 million). The increase in receipts from within the EU27 was primarily due to increases in receipts from residents of the euro area by 37.6% (March 2024: €141.2 million; March 2023: €102.6 million), while receipts from residents of EU27 countries outside the euro area stood at €25.0 million, almost unchanged from March 2023. More specifically, among major euro area countries of origin, receipts from Germany rose by 36.9% to €37.7 million, while receipts from France increased by 24.4% to €16.0 million. Receipts from Italy also increased by 127.0% to €27.1 million. Turning to other countries, receipts from the United Kingdom rose by 41.7% to €23.8 million, while receipts from the United States also increased by 44.0% to €54.7 million. Finally, receipts from Russia stood at €1.9 million, almost unchanged from March 2023.

In January–March 2024, travel receipts totalled €942.0 million, up by 28.2% relative to the same period of 2023. This development was due to increases in receipts from residents of the EU27 by 48.2% to €470.0 million and in receipts from residents in other countries by 13.1% to €451.4 million. In greater detail, receipts from euro area residents rose by 44.5% to €381.7 million and receipts from residents of non-euro area EU27 countries increased by 66.5% to €88.3 million. Specifically, receipts from Germany rose by 43.8% to €96.4 million, as did those from Italy by 89.9% to €57.6 million, whereas receipts from France dropped by 3.7% to €50.2 million. Turning to other countries, receipts from the United Kingdom rose by 4.8% to €57.0 million and receipts from the United States increased by 32.4% to €100.8 million. Finally, receipts from Russia decreased by 39.2% to €1.9 million