Greece expects the tourist industry to generate revenue between €14 and €14.3 billion (AU$21.5-22 billion), according to Bank of Greece estimates, which recorded an increase of revenue by 9.1 per cent – or €881 million – compared to 2016.

August, in particular, which traditionally marks the peak of the tourist season, saw an increase of 16.4 per cent (€497 million) with 729,000 more visitors arriving in Greece, compared to August 2016.

Overall, 1.7 million more tourists visited Greece in 2017, marking a rise of 9.9 per cent compared with the same period of six months from January to August 2016.

According to industry experts, this should mean that by the end of the year, tourism will have generated revenues close to €14 billion. However, if the last four months of the year see an increase in tourist visits – which is the goal of the industry – this revenue will rise to €14.3 billion, closer to the sector’s target of €14.5 billion.