Tourism turnover index slows but signs remain positive

EconomyMacroeconomy Tags: Tourism
Photo by Harry van Versendaal
Photo by Harry van Versendaal

Turnover Index in Accommodation and Food Services rose 1.2  percent in the third quarter 2013, decelerating from the 5.2 percent posted in the second quarter, according to Hellenic Statistical Authority (ELSTAT). The improvement - one again - confirms the strong tourism season in Greece this year.

Indeed, latest Bank of Greece (BoG) data show that travel spending by non-residents to September soared 14.4 percent to 10.7 billion primarily reflecting a  rise in non-residents’ arrivals by 15.2 percent over the same period. As a result, travel surplu...

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