Tourism revenues estimated at US$ 220mn in Dec-24
Tourism revenues decreased by 10.1% y/y to US$ 220mn in Dec-24, according to our estimates. Overall, in 2024 tourism revenues reached US$ 4.4bn (+5.5% y/y) by our estimates.
International reserves at US$ 4.4bn in Dec-24
Gross international reserves decreased by 11.2% y/y to US$ 4.4bn in Dec-24, according to NBG. On a monthly basis, the reserves were up by 7.8% (+US$ 323.7mn), reflecting mainly an increase in the upper limit on FX minimum reserve requirements for banks by 5 percentage points to 25%. Other changes in reserves were attributed to the government and/or banking sector FX operations, and likely also to NBG’s FX trading via BMatch platform (information will be available on 27 January). Notably, as of Dec-24, monetary gold accounted for 13.5% of total international reserves.
