Almost €11 billion in tourism receipts in the seven months of January – July

Tourist traffic in January-July 2024 appears up 11.1% compared to the same seven-month period last year, with tourism receipts recording a 5.6% increase.

As reflected in the country’s Balance of Payments data released today by the Bank of Greece, tourism receipts during the above period this year amounted to 10.95 billion euros. In spite of this, the current account deficit increased by EUR 1.3 billion compared to the same period in 2023 and stood at EUR 8.6 billion. This development mainly reflects the increase in the goods deficit, due to the simultaneous decline in exports and increase in imports. At current prices, exports of goods decreased by 1.3% ( 4.3% at constant prices) and imports of goods increased by 4.1% (4.8% at constant prices). In particular, at current prices, exports of goods excluding fuel decreased by 2.7%, while corresponding imports recorded an increase of 5.4% ( 5.6% and 5.7% at constant prices respectively).

The deficit of the overall current account and capital account (which corresponds to the economy’s external financing needs) widened compared to the corresponding period of 2023, reaching 9.1 billion lei. EUR 9.9 billion.

In 2023, the figure was 9.9 billion euros, compared to 2023.

In terms of foreign direct investment made in the country, an inflow of 2.6 billion euros was recorded. Euro, while residents’ claims against foreign countries recorded net flows of 978.1 million euros

In portfolio investment, the increase in residents’ claims on foreign assets was largely due to a €3.3 billion rise in residents’ placements in foreign bonds and bills. The increase in their liabilities mainly reflects a €6.1 billion increase in non-resident placements in Greek bonds and bills, as well as a €1.8 billion increase in non-resident placements in domestic corporate equities.

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