Travel receipts soared 24.5% in Jan-Feb

Travel receipts posted a remarkable 24.5% increase year-on-year in Greece in January and February, Bank of Greece data showed on Friday, helping moderate the country’s current account deficit.

Therefore travel receipts in the first two months of 2024 amounted to 589.7 million euros, making a dynamic start to the year, with an increaseby nearly a quarter compared to same period last year (€457.5 million).

According to Bank of Greece data, non-resident traveler arrivals also increased by 20.7% compared to the first two months of 2023, showing that Greece is gradually meeting its target of turning into a 12-month destination.

Also, in the first two months of 2024, the current account deficit showed a slight improvement compared to the same period in 2023, thanks to the improvement in the balance of secondary income and, to a lesser extent, the balance of services, which was partially offset by the deterioration of goods and primary income balances.

In February, the current account deficit increased by €1.8 billion compared to February 2023 to €3.2 billion.

In the January-February 2024 period, the current account deficit decreased by €41.5 million compared to the first two months of 2023 and amounted to €1.5 billion.