According to the Bank of Greece on the balance of trade, the revenue from travel bookings increased by 21% to 1.59 billion euros in June, confirming estimations that the sector of tourism is on the rise.
Compared to 2012, the revenue from tourism in the first half of 2013 has increased by 18% to 3.32 billion euros. Sector estimations suggest that there has been an increase in arrivals and revenue of about 10%. This attributed to the reduction of prices and the increased political and financial stability.
The highest increase of arrivals and revenue comes from Russian tourists, who on average spend the greatest amount of money in Greece, compared to other tourists. This increase in revenue has helped the current account balance surplus increase to 663 million euros, from 73 million euros last year.
The government is banking on a good year in tourism in order to offset the weak industrial sector and the virtually non-existent investments. Minister of Finances Stournaras has reported that the increase in tourism could help reduce the rate of recession beyond the estimated 4.2% rate.
