Greece’s Travel Balance Shows Surplus Despite Fewer Visitors

• Travel balance: Surplus of €2.98 billion in June 2025; €5.99 billion in January-June 2025.
• Receipts: Up 8.8% in June; up 11.0% in the first half of 2025.
• Visitors: Down 1.7% in June; up just 0.6% January–June.
• Average spending per trip: +10.2% in June; +10.1% in January–June.
• Biggest increases in receipts: US (+64.7% in June), Italy (+25.7% in June), Germany (+18.6% in June).

On paper, Greek tourism is thriving: more money is flowing into the country than last year, and the balance of travel services is fat with surpluses. But behind the numbers lies a paradox. Visitor arrivals are barely rising — in June they even slipped — yet receipts are climbing sharply. The explanation is simple: fewer travelers came, but those who did dug deeper into their wallets.

Here is how the summer looks when reduced to data from the Bank of Greece.

Balance of Travel Services

• June 2025: Surplus €2,984.9m (June 2024: €2,793.4m).
  • Travel receipts: €3,306.7m (+8.8%).
  • Travel payments: €321.8m (+31.4%).
  • Average expenditure per trip: +10.2%.
  • Inbound traveller flows: -1.7%.
  • Net travel receipts offset 94.4% of the goods deficit and contributed 92.6% of total net services receipts.
• January–June 2025: Surplus €5,991.8m (Jan–Jun 2024: €5,554.5m).
  • Travel receipts: €7,658.9m (+11.0%).
  • Travel payments: €1,667.2m (+24.0%).
  • Average expenditure per trip: +10.1%.
  • Inbound traveler flows: +0.6%.
  • Net travel receipts offset 35.4% of the goods deficit and contributed 81.6% of total net services receipts.

Travel Receipts

• June 2025:
  • EU27: €1,743.0m (+5.5%).
    • Euro area: €1,410.8m (+13.5%).
    • Non-euro EU27: €332.2m (-18.8%).
    • By country:
      • Germany: €594.6m (+18.6%).
      • France: €192.0m (+19.9%).
      • Italy: €180.0m (+25.7%).
  • Other countries: €1,397.4m (+12.0%).
    • UK: €601.2m (+3.0%).
    • US: €247.3m (+64.7%).
    • Russia: €1.8m (down from 2024).
• January–June 2025:
  • EU27: €4,069.8m (+8.5%).
    • Euro area: €3,290.6m (+7.7%).
    • Non-euro EU27: €779.1m (+12.4%).
    • By country:
      • Germany: €1,366.3m (+13.5%).
      • France: €455.9m (+2.1%).
      • Italy: €344.7m (+9.0%).
  • Other countries: €3,210.5m (+13.7%).
    • UK: €1,081.8m (+7.3%).
    • US: €704.3m (+29.4%).
    • Russia: €9.6m (up from 2024).

Inbound Traveller Flows

• June 2025: Total 4,602.7k (-1.7% YoY).
  • By entry point:
    • Airports: +3.3%.
    • Road borders: -19.7%.
  • By origin:
    • EU27: -8.1%.
      • Euro area: +7.2% (1,949.3k).
      • Non-euro EU27: -35.5% (651.1k).
    • Other countries: +8.0%.
      • Germany: 768.8k (+9.5%).
      • France: 267.9k (+29.6%).
      • Italy: 305.3k (+29.7%).
      • UK: 811.2k (+14.9%).
      • US: 230.8k (+24.1%).
      • Russia: 3.0k (up from 2024).
• January–June 2025: Total 11,691.9k (+0.6% YoY).
  • By entry point:
    • Airports: +4.9%.
    • Road borders: -13.1%.
  • By origin:
    • EU27: -6.3% (6,412.9k).
      • Euro area: +2.4%.
      • Non-euro EU27: -27.5%.
    • Other countries: +10.5% (5,278.9k).
      • Germany: 1,849.0k (+4.7%).
      • France: 610.1k (-9.8%).
      • Italy: 617.2k (+4.9%).
      • UK: 1,521.9k (+11.0%).
      • US: 694.1k (+20.0%).
      • Russia: 10.6k (up from 2024).

Reading Between the Numbers

Greece is taking in more euros per visitor, even if the crowds are not really growing. June’s receipts rose almost 9% while visitor numbers fell. In the first half of the year, the growth was 11% on receipts and barely half a percent on arrivals.

The lesson is clear: it is not about how many tourists show up, but how much they spend once they do. Germany, Italy, and the United States are leading the way, while France stumbles and Russia remains a rounding error.

In short: fewer feet in the sand, deeper wallets in the tills.