Bank of Greece: tourism revenues surge by €2B in 2025

Specifically, revenues from inbound tourism reached €23.62 billion in 2025, compared to €21.59 billion in 2024, marking an increase of approximately €2 billion. On an annual basis, non-resident tourist arrivals grew by 5.6%, while related revenues increased at a faster pace of 9.4%, confirming a rise in average spending per trip.

December stood out as particularly strong, with travel receipts totaling €623 million, up from €468 million in December 2024. Compared with the same month the previous year, arrivals rose by 49% and receipts by 33%. The improvement in the travel balance contributed significantly to the overall surplus in services, despite pressures in other categories, such as transport.

Reduction of the Current Account Deficit in 2025
For the year as a whole, the current account deficit fell by €2.8 billion compared to 2024, reaching €14.1 billion. The improvement was driven by the stronger services balance—mainly due to tourism—and a reduction in the goods balance deficit, as the decline in imports exceeded that of exports. The services surplus expanded, despite deterioration in transport and other services, while the primary income deficit decreased mainly due to lower net payments of interest, dividends, and profits. At the same time, the secondary income balance surplus increased.

Deterioration in December
On a monthly basis, however, December 2025 saw a deterioration. The current account deficit amounted to €3.9 billion, an increase of €129.2 million compared to December 2024, as the goods deficit widened due to imports growing faster than exports. Specifically, goods exports rose by 2.6% in current prices (7.1% in constant prices), while imports increased by 6.6% (10.6% in constant prices). Excluding fuels, imports grew significantly more than exports.

Surplus in the Capital Account
In 2025, the capital account recorded a surplus of €1.7 billion, compared to a small deficit in 2024, mainly due to increased net receipts of the general government. Overall, the combined current and capital account deficit—which reflects the economy’s external financing needs—fell to €12.4 billion in 2025.

Increase in Foreign Direct Investment and Foreign Exchange Reserves
In the investment sector, non-resident direct investments in Greece recorded net inflows of €12 billion in 2025, while resident investments abroad totaled €5.3 billion. At the end of December 2025, the country’s foreign exchange reserves stood at €20.3 billion, a significant increase from €14.6 billion at the end of 2024.

A Signal of Economic Resilience
The strong performance of tourism underscores the sector’s critical role in the Greek economy, both as a source of revenue and as a driver of improved external balances, during a period when international economic conditions remain uncertain.