MacroPolis

Record year for Greek tourism raises concerns about sustainability

By: Georgia Nakou

Greece received record numbers of visitors and income from tourism in 2023, marking a remarkable comeback from the lean years of the pandemic – but, beneath the surface, the figures give some cause for concern.

Record year for tourism in 2023 with 20.46 bln in receipts, 32.74 mln visitors

Greece's travel balance recorded a surplus of 114.9 million euros in December, compared to 206.2 million euros in November, according to data released by the Bank of Greece (BoG) on Wednesday.

Current account deficit drops sharply to 14.13 bln in 2023 as energy effects moderate

Greece’s current account recorded a deficit of 2.25 billion euros in December, from a deficit of 3.3 billion euros in November, Bank of Greece (BoG) data showed on Tuesday.

Credit growth accelerates to 3.6 pct in Dec, led by loans to corporations

The credit expansion in the Greek private sector slightly picked up pace in December, rising by 3.6 percent year-on-year (YoY), up from 2.8 percent in November, Bank of Greece (BoG) figures released on Friday showed.

Close to 32 mln visitors by Nov as 11-month travel receipts set record

Greece’s travel balance recorded a surplus of 206.2 million euros in November, from 1.5 billion euros in October, according to Bank of Greece (BoG) data released on Monday.

Nov current account deficit widens to 3.3 bln, 11M falls below 12 bln

Greece’s current account recorded a deficit of 3.3 billion euros in November, from a deficit of 1.45 billion euros in October, Bank of Greece (BoG) data showed on Friday.

Fuelled by drop in corporate deposits, Nov outflow at 904 mln

The net private sector deposits in the Greek banking system contracted strongly in November, with a 904-million-euro outflow, after a negative movement of 2.14 billion euros in October, based on the latest Bank of Greece (BoG) figures released on Tuesday.

Pace of credit growth picks up in Nov, at 2.8 pct, led by loans to insurance companies

The credit expansion in the Greek private sector slightly picked up pace in November, rising by 2.8 percent year-on-year (YoY), up from 2.1 percent in October, Bank of Greece (BoG) figures released on Tuesday showed.

Travel receipts of 19.61 bln up to Oct set new record as arrivals soar by 17 pct to over 30 mln

Greece’s travel balance recorded a surplus of 1.5 billion euros in October, from 3.03 billion euros in September, according to Bank of Greece (BoG) data released on Friday.

Current account deficit to Oct plunges to 8.7 bln as energy impact eases and imports drop

Greece’s current account recorded a deficit of 1.45 billion euros in October, from a deficit of 404.3 million euros in September, Bank of Greece (BoG) data showed on Thursday.