Travel receipts post 21.7 pct rise in Jan-May

Travel receipts in the first five months of the year were up 21.7 percent, or 449 million euros, on last year, reaching 2.52 billion euros, according to Bank of Greece figures.

This growth is attributed to the 35 percent increase in revenue collection from European Union nationals that reached 1.734 billion euros, with the greatest growth coming from receipts from German visitors, which jumped 65.2 percent year-on-year to 565 million euros. There was also a small rise in takings from non-EU citizens, which came to 704 million euros.

BoG data showed that the growth in travel receipts resulted from the 16.8 percent increase in arrivals to 5.35 million visitors, as well as the 5.4 percent (24-euro) improvement in average spending per trip. In the year to end-May the travel balance showed a surplus of 1.59 billion euros, against a surplus of 1.275 billion in the same period last year.

In May alone travel receipts recorded a 34.7 percent increase from May 2017 to reach 1.475 billion euros, taking the travel surplus of the month to 1.27 billion. This was thanks to the 23.6 percent growth in incoming traffic and the 10.7 percent (56-euro) rise in average spending per trip.