- Tourism revenues fell by 4.2% in July compared to last year.
- Tourist arrivals rose 4.1% over the same period.
- July’s travel income was €4.031 billion, down from €4.208 billion last year.
- Revenue for January through July increased by 5.6%, reaching €10.95 billion.
- Visits from international tourists jumped 11.2% in the first seven months.
- Total tourism income for 2024 is predicted to reach €22 billion.
July’s Tourism Revenue Falls Amid Rising Arrivals
July saw a curious trend in Greece’s tourism industry: arrivals rose, yet revenues dipped slightly. The Bank of Greece reports that travel earnings in July hit €4.031 billion, a decline from last year’s €4.208 billion. Even though more tourists visited, the drop in revenue highlights changing spending patterns.
- Despite increased arrivals, July revenues fell.
- The discrepancy points to shifts in tourist spending behaviours.
- Economic factors could influence how tourists allocate their travel budgets.
Overall Growth in Early 2024
Despite July’s downturn, the year’s travel revenue shows promising growth. From January to July, tourism earnings climbed 5.6% compared to the same months in the previous year, reaching €10.95 billion. This boost aligns with a significant 11.2% rise in non-resident tourist numbers, suggesting a positive outlook for the year.
- January to July revenues exceed the previous year’s figures.
- Non-resident travel saw a substantial increase.
- Positive trends are forecasted for the remainder of the year.
Tourism Minister Olga Kefalogianni confidently projects total earnings of €22 billion for 2024, surpassing last year’s record income of €20.6 billion. This optimism suggests a robust finish to the year, driven by the steady inflow of international travellers.
