Travel receipts grow 72% in January year-on-year

Travel receipts grew 72% in January, totaling 224.2 million euros, from €130.5 million in the corresponding month last year, the Bank of Greece said.

Based on provisional data, the balance of travel services in January showed a surplus of €26.3 million, down from a surplus of €44 million in January 2022.

Travel payments also increased by 129%, reaching €197.9 million in January 2023 against €86.4 million a year earlier.

The rise in travel receipts was thanks to an 86.1% increase in inbound traveler flows, as average expenditure per trip declined by 7.6%.

Net travel receipts offset 1.1% of the goods deficit and contributed 9.8% of total net services receipts.