Tourist spending increased by 12.3% in July, in comparison to last year’s figures, fuelling hopes that the key sector will boost the economy.
July’s figures followed similarly positive results for June despite the 2.7% drop in the number of arrivals.
The government is optimistic that increased tourism will help it recover from the Eurogroup’s deposits haircut in March, which formed part of a €23 billion bail-in/bailout deal with international lenders.
Tourism revenue reached €338.6 million in July, a €37.1 million increase on last year. When compared to 2010 the revenue increase is 46.5% for the same period, increasing hopes that the trend will continue as arrivals are expected to increase in 2014 despite this year’s projected overall dip.
The average daily amount spent by tourists in July was €89.40 while the average length of stay was 10.5 days. This compares to lower average daily spending of €86.10 in July 2012 on average stays of 9.4 days.
Belgians proved to be the biggest spenders, shelling out an average €153.50 a day while Greeks proved the most cautious spending just €44.20 per day.