Tourism revenues estimated at US$ 335mn in Oct-23
Tourism revenues stood at US$ 335.0mn (flat y/y) in Oct-23, according to our estimates. Overall, tourism revenues came in at US$ 3.6bn (+25.8% y/y) in 10M23. We forecast tourism revenues at US$ 4.2bn (+19.0% y/y) for the full year 2023 and at US$ 4.5bn (+7.0% y/y) for 2024.
International reserves at US$ 5.1bn in Oct-23
Gross international reserves increased by 16.7% y/y to US$ 5.1bn in Oct-23, according to NBG. On a monthly basis, the reserves reduced by 2.9% (-US$ 154.4mn). Notably, there were 2 FX auctions in October, where NBG sold US$ 84.9mn. Other changes in reserves were attributed to the government and banking sector FX operations, likely also to NBG’s FX trading via BMatch platform (information will be available on 27 November).
