Although tourist arrivals this summer hit a record high, revenue from tourism in July and the first months of 2014 remained low due to the reduction of the average expenditure by tourists who have chosen Greece to spend their summer vacation.
Data released from the Bank of Greece (BoG) showed that the average spending dropped by 5.6% in the first seven months. However, market experts estimate that there was an increase in the average spending per overnight stay.
In July, tourist revenue amounted to 2.744 billion euros, recording an increase of 14.4% compared to July 2013, while in the period January-July 2014, revenue reached 6.684 euros, an increase of 13.8%.
Arrivals in July increased by 20.8% reaching 10.486 million. On the other hand, there was a decrease in the average expenditure per trip. According to BoG, the average expenditure per trip in July amounted to 634.1 euros compared to 716.3 last year (-11.5%). In the period January-July 2014, average expenditure per trip amounted to 616.8 euros compared to 653.4 euros last year (-5.6%).
Sources from the Association of Greek Tourism Enterprises (SETE) estimate that there was a rise in expenditure per night. It is estimated that in the first seven months of the year, the average expenditure per night stood at 74 euros compared to 72 euros in 2013.
Other data shows that revenue from German tourists amounted to 855 million euros, recording a decrease of 6.3%. Tourists from Britain spent 791.5 million euros (+26.1%), while tourists from the United States proved to be the most generous, with the average expenditure per trip reaching 1.140 euros, followed by the Russians with 935.8 euros and the Germans with 818 euros per trip.