P&C Insurance and Beverages Business Financial Overview
Tourism sector on the rise
Tourism revenues to GDP
Sources: NBG, Geostat
3600
3100
Spending per arrival, 2017
US$ million
2600
2100
9%
10%
10%
1600 6%
1100
600
100
2011
2012
2013
2014
Source: WDI
20% 20%
25%
1496
1600
18%
17%
1310
13%
14%
20%
1400
1200
15%
1000
10%
800
5%
600
0%
400
2015
2016
2017
2018
9M2018
9M2019
200
0
Tourism revenues, % of GDP
Hungary
Azerbaijan
Cyprus
Turkey
Slovenia
Poland
Armenia
Tourism inflows, US$ mn, LHS
Arrivals to country's population, 2017
Source: WDI
900
4
3.8
3.5
3.1 3.0
3
2.5 2.5
Thousands
700
425
500
328
349
306
2.5
1.7 1.7 1.6
1.3
2
1.0 1.0 0.9
1.5
1
0.5
0
Croatia
Cyprus
Montenegro
Greece
Estonia
Georgia
Albania
Slovenia
Bulgaria
Latvia
Czech Republic
Lithuania
Hungary
Armenia
Poland
Turkey
Ukraine
Azerbaijan
248
300
0.6 0.5 0.5 0.5 0.3 0.2
100
Jan Feb
Mar
Jun
Apr May
2017
2016
Source: GNTA
Number of Tourists (overnight visitors)
In 2019, the number of overnight visitors increased by 6.8% y-o-y, including 4.6%
growth in 2H19 despite the Russian air travel ban
Czech Republic
Croatia
Greece
Estonia
Lithuania
Montenegro
Latvia
Bulgaria
857 848 823 771 763 757 714 692 661 629 591 555 527 458 441
Georgia
Albania
Ukraine
GEORGIA
CAPITAL
140
754
570
540
439
472
339 312
Jul
Oct
Aug Sep
Nov Dec
2018 2019
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