Greece economic report: Tourism rises 15% while current account deficit hits 9.5 billion euros in H1

Data from the Bank of Greece indicates that tourism remained a primary economic driver in the first half of 2026. Non-resident arrivals increased by 15.4%, while tourism receipts rose by 14.8% to approximately 8.8 billion euros. However, June saw a slowdown in spending, with arrivals up 6.9% but receipts increasing by only 1.2%, suggesting a decline in average tourist expenditure.

The current account deficit for June 2026 decreased significantly to 602.8 million euros, down nearly half compared to the same month in 2025. This was driven by a 27.5% increase in goods exports. Despite this monthly improvement, the first-half current account deficit rose to 9.5 billion euros, an increase of approximately 1 billion euros compared to the previous year.

Regarding inflation, the Piraeus Chamber of Commerce, Industry and Shipping noted that Greece's harmonized inflation rate dropped to 2.7% in July, down from 3.9% in June. While this is lower than the Eurozone average, officials cautioned that high prices for many goods and services persist. Additionally, July state revenues exceeded targets, reaching 9.195 billion euros, bolstered by income tax and VAT collections.