Tourism: revenues rise to €20.11 billion in 2023

In the 11 months of 2023, tourism revenues rose to 20.11 billion euros, breaking the 2019 record.

Data from the Bank of Greece for the period January-November 2023 shows that it was during this period that travel revenues increased by 12.5% ​​compared to 2019 figures. Separately, revenue reached €401 million in November, up €85 million from November 2019. As a result, the current account deficit decreased by 6.6 billion euros compared to the corresponding period in 2022 and amounted to 11.9 billion euros.

The Ionian Islands have the highest average spending by foreign tourists

Meanwhile, the 2022 INSETE study showed that the highest average spending by foreign tourists visiting our country is in the Ionian Islands, South Aegean region. Revenue amounted to 4.7 billion euros, ranking first among 13 regions (with a 27% share of total tourism revenues).

INSETE data, based on inbound tourism reports in 2022, shows different identities and dynamics between the country’s destinations.

Some statistics

• The “champion” in terms of the share of visits from inbound tourism remains South Aegean region, as with 6.7 million visits it accounts for more than 1/5 (21%) of the total. At the same time, it retains first place in terms of income with 4.7 billion euros and a share of 27% of all tourism receipts. Average visitor spending decreased by 6%, from €751 in 2019 to €703 in 2022.
• In terms of higher average expenses, it ranks first Ionian Islands region, since in 2022 they increased by 31% compared to 2019, from 627 euros to 821 euros. The region received 10% of total visits, an increase of 4% compared to 2019, and its share of receipts was 15%, an increase of 36% compared to 2019.
• In the region Attica average spending increased by 16% from €438 to €507 between 2019 and 2022.
• Per region Central Macedonia accounted for 18% of the total number of visits to the country, which is 9% of total tourism receipts. Average consumption decreased by 18% from 333 euros to 271 euros.
• Per region Crete accounted for 21% of the total tourism receipts registered in our country in 2022, which is 2% more than in 2019. Average visitor spending on the island increased by 5%. from 681 euros to 716 euros.
• In the region Peloponnese average tourist spending increased by 10% compared to 2019, from 464 euros to 509 euros (3% of total visits, and its share in income was 3%).
• Average expenses in North Aegean region reached 638 euros, an increase of 39% compared to 2019. It received only 1% of the total number of visits, which means a decrease of 45% compared to 2019.
• 3% of visits were to the region North Macedonia – Thrace, which is 71% less than in 2019, while its share in total tourism revenues is 2%. However, the increase in average expenses compared to 2019 was impressive: they increased by 192%, from 115 euros to 334 euros.
• Per region Thessaly accounted for 2% of all visits, which is 20% less than in 2019. It accounts for 1% of total tourism receipts, which is 35% less than in 2019. Average costs also decreased by 19%, from 440 euros to 357 euros.
• Also, 2% of the total number of visits were to the region Central Greece, which is 23% less than in 2019, and its share in revenues is 1%. Average expenses were 416 euros, an increase of 57% compared to 2019, which was 265 euros.
• Per region Epirus accounted for 3% of visits recorded in the regions of Greece in 2022, while its share was 2% of all tourism revenues. Average costs fell by 5% from €253 to €240, also the lowest among the 13 regions.
• Region’s share Western Greece in total tourism revenues is only 1%, which accounts for 2% of total visits, which is 29% less than in 2019. However, average costs increased by 20%, from €315 to €379.
• Finally, the region Western Macedonia also received only 1% of all visits, having the lowest percentage of just 0.3% of all tourism receipts. Average visitor spending increased by 13%, from €248 to €280.

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