Lower tourism takings in 2023
Travel receipts from abroad next year are projected to be marginally lower than in 2019, when they amounted to 18.2 billion euros, as well as this year. Although such a forecast is not included in the data published by the Finance Ministry, the assumption is for receipts to reach €18 billion. If inflation is also taken into account, it becomes clear that they are expected to be reduced from the record levels of 2019 and 2022.
According to the budget’s introductory report, the nominal receipts from tourism for this year are estimated to be close to 2019, specifically 97.4% of the €18.2 billion of that fiscal year.
The market believes it is still too early to make safe predictions for 2023, given the prevailing liquidity in the international economy and the geopolitical developments that are taking place. A clearer picture is not expected before March.
The ministry’s caution is shared by most entrepreneurs in the sector since, as stated in the budget’s introductory report, “the most important risk in the short term for the Greek economy comes from energy prices and inflation and their effects on disposable incomes of households and on consumption, on investments and the country’s international transactions due to inflation and the increase in transport costs.”
