Greece sees revenue from 2017 tourism skyrocket

Greece sees revenue from 2017 tourism skyrocket
"Explosion" occurred in Greek tourism last year, as travel revenue skyrocketed to EUR 14.6 billion, up by EUR 1.39 billion, with a subsequent 9.7% increase in inbound traffic and average money spend per trip, according to the provisional data of the Bank of Greece.

In particular, in 2017, travel revenue went up by 10.5% compared to 2016 and stood at EUR 14.596 billion. This development is due to a 13.8% increase in EU-28 residents' revenue, which amounted to EUR 9,843 billion, and to an increase of 5,6% in the revenue from residents of non-EU-28 countries, which amounted to EUR 4,327 billion.

In 2017, the travel balance showed a surplus of EUR 12.68 billion, up 13.2%, compared to a surplus of EUR 11.201 billion in 2016. This was the result of an increase in travel revenue by EUR 1.389 billion or 10.5% , as well as the reduction in travel payments by EUR 90 million or 4.5%. The increase in travel revenue is mainly due to the increase in incoming travel traffic by 9.7% and secondarily to the increase in average money spent per trip by 1.4%. Net revenue from travel services offset by 69.1% the deficit in the balance of goods and contributed 72.9% to the total net revenue from services.

Airport traffic increased by 9.9%, while road traffic increased by 8.7%. During the period under review, EU-28 travel traffic stood at 18,583 thousand travellers, showing an increase of 7.9% compared to 2016, while travel from non-EU-28 countries increased by 13,6% to 8,611 thousand travellers./ΙΒΝΑ

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