Tourism revenue in the first 10 months of 2017 reached 14,16 billion Euros

Positive expectations in the tourist industry


Tour operators have almost reached the target of 14,5 billion Euros for 2017 according to the daa of the first 10 months. The figures show a two-digit growth, especially in October, raising revenue a little below 1,2 billion, confirming the estimates refer to the best autumn of recent years.

Based on the first figures of the Bank of Greece, the tourist revenue for the January – October 2017 interval stood at 14,16 billion Euros, increased by 10,6% compared to October 2016, when the corresponding number had reached 12,8 billion. Compared to October 2015 the numbers of the ten-month period are higher, when the revenue from tourism had reached 13,7 billion Euro.

October 2017 went exceptionally well: Based on provisional data of the Bank of Greece’s tourist revenues increased by 14,2% to 1,17 billion Euros from 1 billion in October 2016 and 900 million in October 2015.

Banking data also show an increase in arrivals of non-resident travelers at a rate of 8,4% individually for October compared with the same month last year, while for the period January – October, an increase in arrivals ranged to the two-digit rate of 10,1%.

The CEO of the Bank Mr. Yannis Stournaras, also mentioned the positive course of tourism of Greece at the Interim Monetary Policy Report, pointing out that “the positive development of tourism in 2017 is expected to
continue in 2018, as improvements in transport infrastructure and developments mainly in the air transport market, are expanding its capabilities”.

The report makes reference also the contribution of the industry to the decline in youth unemployment “due to the sectoral employment mix that strengthens youth employment positions related to tourism services and trade” at the same time which, as stated, “business expectations in the tourist business, are positive”.