The Bank of Greece attributes the increase in inbound travel by 9.2% to the rise in tourist receipts in the ten-month period, as the average expenditure per trip fell by 4.3% in the same period. Provisional data indicates that travel receipts nearly reached 21 billion euros, surpassing the total receipts from October of the previous year. Meanwhile, travel payments reached 2.27 billion euros, indicating a notable increase of 13.2%. 

In detail, the travel balance in October 2024 showed a surplus of 1,941.9 million euros, compared to a surplus of 1,637.2 million euros in the corresponding month of 2023. In particular, travel receipts recorded an increase of 19.7% in October 2024, reaching EUR 2,176.7 million, compared to EUR 1,819.0 million in the corresponding month of 2023, while a 29.2% increase was also observed in travel payments (October 2024: EUR 234.8 million). In contrast to the figures for the ten-month period, the increase in travel receipts in October in particular was mainly due to an increase in inbound travel by 8.6%, but also an increase in average expenditure per trip by 10.7%. Net receipts from travel services offset the goods deficit by 59.8% and contributed 83.8% to total net receipts from services.

Overall, in January-October 2024, the travel balance recorded a surplus of €18,664.3 million, compared to a surplus of €17,834.4 million in the corresponding period of 2023. Travel receipts increased by EUR 1,094.6 million or 5.5%, reaching EUR 20,935.0 million, while travel payments increased by EUR 264.7 million or 13.2%, reaching EUR 2,270.7 million. As mentioned above, the increase in travel receipts was due to a 9.2% increase in inbound travel, as the average expenditure per trip decreased by 4.3%. Net receipts from travel services offset the deficit in the goods balance by 63.8% and contributed 85.2% to total net receipts from services.