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Greek current account deficit widens in February
Greece's current account deficit widened slightly in February from the same month last year, according to balance of payments figures released by the central bank on Thursday.
The deficit stood at 709 million euros ($978.88 million) from 684 million in February 2013
The larger deficit was the result of increased loan interest payments to the European Financial Stability Facility (EFSF) and the International Monetary Fund. This has taken the current account balance for the first couple of months of the year to 1 billion euros – i.e. 6 million euros more than in the same period last year.
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Tourist spending up 17.3 pct
Jan-Feb data point to growth in flow of visitors from Russia, UK and Germany
Greek tourism has hit the ground running this year following 2013’s major increase, as revenues have grown by 17.3 percent in the first two months from the same period last year to reach 294.1 million euros, the Bank of Greece announced on Thursday. Those travel receipts also include revenues from cruise activities, which posted an annual increase of 11.5 percent.
The biggest rise – 136.8 percent – was in receipts from Russian tourists, which reached 13.3 million euros in January and February. Spending by British visitors grew by 8.8 percent to reach 17.9 million euros, while Germans spent 3.5 percent more, reaching 25 million euros.
There was a significant 31.9 percent decline in receipts from French tourists to 5.8 million euros, and a 4 percent drop in spending by US visitors, which reached 16.5 million.
In absolute figures the number of foreign tourists in Greece in the first couple of months of 2014 grew by 10.2 percent from last year to exceed 730,000. Despite the drop in the value of the ruble against the euro and the troubles in Ukraine, visitors from Russia increased by 153.9 percent, from the UK by 35.9 percent and from Germany by 4.5 percent. The number of tourists from France shrank by 31.7 percent and from the US by 2.4 percent.
ekathimerini.com
Greece's current account deficit widened slightly in February from the same month last year, according to balance of payments figures released by the central bank on Thursday.
The deficit stood at 709 million euros ($978.88 million) from 684 million in February 2013
The larger deficit was the result of increased loan interest payments to the European Financial Stability Facility (EFSF) and the International Monetary Fund. This has taken the current account balance for the first couple of months of the year to 1 billion euros – i.e. 6 million euros more than in the same period last year.
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Tourist spending up 17.3 pct
Jan-Feb data point to growth in flow of visitors from Russia, UK and Germany
Greek tourism has hit the ground running this year following 2013’s major increase, as revenues have grown by 17.3 percent in the first two months from the same period last year to reach 294.1 million euros, the Bank of Greece announced on Thursday. Those travel receipts also include revenues from cruise activities, which posted an annual increase of 11.5 percent.
The biggest rise – 136.8 percent – was in receipts from Russian tourists, which reached 13.3 million euros in January and February. Spending by British visitors grew by 8.8 percent to reach 17.9 million euros, while Germans spent 3.5 percent more, reaching 25 million euros.
There was a significant 31.9 percent decline in receipts from French tourists to 5.8 million euros, and a 4 percent drop in spending by US visitors, which reached 16.5 million.
In absolute figures the number of foreign tourists in Greece in the first couple of months of 2014 grew by 10.2 percent from last year to exceed 730,000. Despite the drop in the value of the ruble against the euro and the troubles in Ukraine, visitors from Russia increased by 153.9 percent, from the UK by 35.9 percent and from Germany by 4.5 percent. The number of tourists from France shrank by 31.7 percent and from the US by 2.4 percent.
ekathimerini.com
