12 billion tourist euros: a holiday in Athens, headache in the field

Tourism income in Greece In the first seven months of 2025 they reached 12.1 billion eurosshowing an increase of 12.5% ​​compared to the same period last year. This is evidenced by data on the payment balance for July, published Bank of Greece.

Together with the growth of exports, this allowed to reduce Current account deficiency For 1.4 billion euros – up to 6.7 billion euros in annual terms.

What has changed in the trade balance

The deficit of goods decreased, since imports were reduced more than export. At current prices, export of goods decreased by 4.9% (+0.3% in permanent prices), and imports-by 3.6% (-2.1% in permanent prices). At the same time, the export of non -food goods increased by 4.5%, and imports – by 3.4% (7.0% and 2.7% at permanent prices, respectively).

The service sector holds the economy

The service balance of services has expanded due to improving the tourist balance, although this was partially compensated by the drop in the indicators of the transport sector. The number of foreign tourists increased by 2.6% in annual terms, and income from their arrival – immediately by 12.5%.

The deficit under the article of primary income was reduced, mainly due to a decrease in net payments by interest, dividends and profits. The surplus of secondary income has increased due to the reduction of net payments of the public sector, although this growth partially “ate” the weaker revenues in other sectors of the economy.

Direct and portfolio investments

The total deficiency of current and capital accounts decreased to 5.4 billion euros.

In the category of direct investments, a clean outflow of 2.3 billion euros was noted on external assets of residents and a clean influx of 3.2 billion euros for the external obligations of residents, which reflects investment of non -residents in Greece.

According to portfolio investments, a decrease in the external assets of residents is associated with a fall of 3.5 billion euros of their investments in foreign bonds and treasury bills. This was partially compensated by the growth of 1.8 billion euros of their investments in foreign shares. The increase in obligations is explained by an increase by 7.9 billion euros of non -residents investments in Greek bonds and bills, as well as 1.6 billion euros into Greek shares.

PS. Impressive income. The only question is whether local mayors will be able to send at least part of this money to repair the sewage and solving problems caused hyperthorism. There is so far a risk that the situation will reach the moment when, excuse me, “Shit will really reach the fan.”

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