NBG report: Tourism fuelled strong Q3 2019 econ growth

Monday, 16 December 2019 23:07
UPD:23:37
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By A. Tsimplakis 
atsimp@naftemporiki.gr

Greece's tourism industry remains the country's "locomotive" in terms of economic growth, which was recorded at 2.3 percent in the third quarter of 2019, on an annual basis, according to a study by the National Bank of Greece (NBG).

A second factor pushing economic growth are exports of goods.

According to NBG, the strong Q3 growth rides on the back of a 14.5-percent hike in exported services (annualized), corresponding to a booming tourism sector. In constant prices, the tourism sector contributed 2.2 percentage points to the annual increase in GDP for the specific quarter, and by 10.8 percent in the nine-month period (on an annual basis), far exceeded initial - and guarded expectations - for the current season.

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