Travel receipts soared by 24.5% in Jan-Feb

Travel receipts posted a 24.5% increase year-on-year in Greece in January and

February, Bank of Greece data showed on Friday, helping moderate the country’s current account deficit. Therefore travel receipts in the first two months of 2024 amounted to 589.7 million euros, making a dynamic start to the year, with an increase by nearly a quarter compared to same period last year (€457.5 million). According to Bank of Greece data, non-resident traveler arrivals also increased by 20.7% compared to the first two months of 2023, showing that Greece is gradually meeting its target of turning into a 12-month destination. Consequently the signs from January and February are confirming the industry’s estimates about another record year for Greek tourism. Also, in the first two months of 2024, the current account deficit showed a slight improvement compared to the same period in 2023, thanks to the improvement in the balance of secondary income and, to a lesser extent, the balance of services, which was partially offset by the deterioration of goods and primary income balances.

Registered unemployed. The total number of registered unemployed persons in the Greek Public Employment Service (DYPA) registered in March 2024 amounted to 976,373 people, a decrease of -59,207 persons (-5.7%) compared to the corresponding month of the previous year, March 2023. Also compared to the previous month the unemployed registered a decrease of -40.683 people (-4%), according to the figures that DYPA released on Friday.

T-bills. The Public Debt Management Agency announced last Friday that on Wednesday it will auction 26-week treasury bills, in book entry form, to the amount of 625 million euros. Only primary dealers will be allowed to participate. The issue will mature on October 25 and the settlement date is this Friday.