BoG: Greek travel receipts grew by 16.1% to €4.183 billion in August 2019

The travel services balance in Greece recorded a surplus of 3.927 billion euros in August 2019, up from a surplus of 3.432 billion euros in the same month in 2018, the Bank of Greece announced on Tuesday.

More specifically, the central bank announced, travel receipts in August 2019 rose by 16.1 pct to 4.183 billion euros, from 3.601 billion in August 2018, while travel payments also increased by 50.6 pct (August 2019: 255 million euros, August 2018: 170 million euros). The rise in travel receipts is attributed to a 4.8 pct year-on-year increase in average expenditure per trip, as well as to a rise of 11.0 pct in inbound traveler flows. Net receipts from travel services accounted for 87.0 pct of total net receipts from services and more than offset (210.2 pct) the goods deficit.