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Income

Tourism: Tourists are up, but receipts are down – 2024-08-22 18:50:51

by Chief editor of world-today-news.com August 22, 2024

written by Chief editor of world-today-news.com

The increase is great tourist receipts the first half of the year as they reached 6.9 billion euros or 12.2% higher than the corresponding period of 2023, which shows the positive course for Greek tourism. However, this is due to the increase in the number of tourists, as the average expenditure is reduced compared to last year.

As the data of the Bank of Greece show, in the first half of this year on average a tourist spent 570 euros. A year ago the expenditure was 588 euros, while in 2022 it reached 607 euros. Especially for June, the first month of summer, the average expenditure this year was 638 euros, last year they were at 647 euros and in 2022 at 671 euros.

As for the most important countries of origin of travelers from the euro area, receipts from Germany fell by 1.4% to €522.9 million, while receipts from France increased by 1.0% to €163 .9 million euros. Receipts from Italy also rose by 12.9%, reaching 144.9 million euros.

From the other countries, receipts from the United Kingdom showed an increase of 42.5%, which amounted to 608.9 million euros, while receipts from the USA decreased by 32.8% and amounted to 143.1 million. euro. Finally, receipts from Russia fell by 60.2% to 2.5 million euros.

Travel balance

According to the provisional data, the travel balance in June 2024 showed a surplus of 2,861.7 million euros, compared to a surplus of 2,680.7 million euros in the corresponding month of 2023. In particular, an increase of 7.7% was recorded in June 2024 by travel receipts, which amounted to 3,115.0 million euros, compared to 2,891.3 million euros in the corresponding month of 2023, while a 20.2% increase was also observed in travel payments (June 2024: 253.3 million euros, June 2023: €210.6 million).

The increase in travel receipts was driven by an 8.8% rise in inbound travel traffic as average spend per trip fell 1.4%. Net receipts from the provision of travel services more than offset the goods balance deficit by 115.6% and contributed 89.7% to total net receipts from services.

In the period January-June 2024, the travel balance showed a surplus of 5,553.1 million euros, compared to a surplus of 5,053.5 million euros in the corresponding period of 2023.

Travel receipts showed an increase of 754.8 million euros (12.2%), which amounted to 6,921.3 million euros, while an increase of 255.3 million euros (22.9%) was also observed in travel payments , which amounted to 1,368.2 million euros.

The rise in travel receipts was driven by a 15.5% increase in inbound travel traffic as average spend per trip fell 3.1%.

Net receipts from the provision of travel services offset the goods balance deficit by 31.8% and contributed 76.8% to total net receipts from services.

Travel receipts

In June 2024, as mentioned above, travel receipts increased by 7.7% compared to the corresponding month of 2023. More specifically, a 4.6% increase was recorded by receipts from residents of the EU-27 countries, which were formed in 1,713.0 million euros against 1,636.9 million euros in the corresponding month of 2023, as well as receipts from residents of other countries, which increased by 11.0% (June 2024: 1,275.4 million euros, June 2023: 1,148.9 million euros).

The rise in receipts from residents of the EU-27 countries was a result of the increase in receipts from residents of the EU-27 countries outside the euro area by 34.5% (June 2024: €427.6 million, June 2023: 317.9 million euros), as receipts from residents of the euro zone countries decreased by 2.6% and amounted to 1,285.3 million euros, compared to 1,319.0 million euros in the corresponding month of 2023.

In particular, with regard to the most important countries of origin of travelers from the euro area, receipts from Germany decreased by 1.4% and amounted to 522.9 million euros, while receipts from France increased by 1.0% and amounted to to 163.9 million euros. Receipts from Italy also rose by 12.9%, reaching 144.9 million euros.

Receipts from residents of the euro zone countries amounted to 3,104.4 million euros, increased by 11.8%

In the period January-June 2024, travel receipts recorded an increase of 12.2%, compared to the corresponding period of 2023, and amounted to 6,921.3 million euros.

This development is due to the increase in receipts from residents of the EU-27 countries by 14.8%, which amounted to 3,815.8 million euros, as well as the increase in receipts from residents of other countries by 8.4% in 2,818.6 million euros.

In more detail, receipts from residents of the euro zone countries amounted to 3,104.4 million euros, increased by 11.8%, while receipts from residents of the EU-27 countries outside the euro zone also increased by 30, 1% and amounted to 711.4 million euros.

In particular, receipts from Germany increased by 7.4% to 1,223.3 million euros, as did those from France, by 2.5% to 445.7 million euros. Receipts from Italy also increased by 48.8%, reaching 329.0 million euros.

From other countries, receipts from the United Kingdom rose by 19.9% to €1,008.6 million, while receipts from the US increased by 1.0% to €540.1 million. Finally, receipts from Russia decreased by 70.1% and amounted to 5.2 million euros.

Inbound travel traffic

Inbound travel traffic in June 2024 amounted to 4,681.8 thousand travelers, increased by 8.8% compared to the corresponding month in 2023. In particular, travel traffic through airports increased by 9.3% compared to June of 2023, as well as this through road border stations, by 8.0%.

The rise in inbound travel came from the rise in travel from both EU-27 countries by 7.3% and from other countries by 11.3%. In more detail, the travel traffic from the countries of the euro zone amounted to 1,818.3 thousand travelers, increased by 2.1%.

Travel traffic from the EU-27 countries outside the euro zone also showed an increase of 18.2%, which amounted to 1,010.3 thousand travelers.]

Travel traffic from Italy also increased by 10.3%, which amounted to 235.4 thousand travelers

In particular, travel traffic from Germany increased by 2.5% and reached 701.8 thousand travelers, while that from France decreased by 13.5% to 206.7 thousand travelers. Travel traffic from Italy also increased by 10.3%, which amounted to 235.4 thousand travelers.

In relation to the other countries, travel traffic from the United Kingdom increased by 7.8% to 705.8 thousand travelers, while that from the USA decreased by 11.2% to 185.9 thousand travelers. Finally, travel traffic from Russia decreased by 48.5% and amounted to 2.9 thousand travelers.

In the period January-June 2024, inbound travel traffic recorded an increase of 15.5% and amounted to 11,625,6 thousand travelers, compared to 10,061,8 thousand travelers in the corresponding period of 2023. In particular, travel traffic through airports increased by 16.1%, as well as that through road border stations, by 15.2%.

Eurozone countries

During the reviewed period, travel traffic from the EU-27 countries amounted to 6,846.8 thousand travelers, showing an increase of 17.3% compared to the corresponding period of 2023, while travel traffic from other countries increased by 13.1% and amounted to 4,778.8 thousand travelers.

Travel traffic from euro area countries increased by 18.0%, as well as travel traffic from EU-27 countries outside the euro area by 15.7%.

In particular, travel traffic from Germany increased by 13.6% and amounted to 1,766.2 thousand travelers, while that from France increased by 5.6% and amounted to 676.1 thousand travelers. Travel traffic from Italy was also up by 39.1%, reaching 588.6 thousand travelers.

In relation to other countries, travel traffic from the United Kingdom increased by 6.0% to 1,371.6 thousand travelers, while that from the USA increased by 9.5% to 578.4 thousand travelers. Finally, travel traffic from Russia decreased by 58.6% and amounted to 5.5 thousand travelers.

Source: ot.gr

#Tourism #Tourists #receipts

August 22, 2024 0 comments

Entertainment

Why a Universal Basic Income of 1,000 euros a month is such a bad idea, even for those who receive it – Miguel Puga

by Chief editor of world-today-news.com August 22, 2024

written by Chief editor of world-today-news.com

In recent decades, and especially following the 2008 crisis, we have been hearing more and more you that speak of the need of a Universal Basic Income (UBI) for everyone, just by virtue of its existence, and which would supposedly greatly improve the quality of life of all people. Aside from the economic viability of this UBI, which seems practically impossible and would lead to endless contradictions, remains to be proven that an unconditional income serve to improve really the life of the personas that they were going to receive that income, and that it also did not represent a disincentive to work. These two issues have been the subject of a recent work by economists Eva QuicklyElizabeth Rhodes, Alexander From the barDavid Broockman and Sarah Miller, where they show the effects that a guaranteed and unconditional income of $1,000 per month has about a group of 1,000 participants over a period of three years in the United States.

This work, which we can read here (to see its effects on employment) and here (to see its health effects), It took place between November 2020 and October 2023. The income transfers were divided in two ways, on the one hand, a treatment group of 1,000 American citizens who received $1,000 a month for these three yearsand a control group of 2,000 American citizens who received $50 a month for the same period of time. These citizens were selected from ten counties in Texas (including Dallas) and nine counties in Illinois (including Chicago).

The audience to whom this experiment was directed were people between 21 and 40 years oldwith an average family income in the year prior to the experiment (2019) of $29,900so the transfers for the treatment group represented approximately an increase of 40%At the start of the study, almost 60% of the participants were employed, with 17% of them working a second job. In addition to the transfers, participants also received $10 for each survey they filled out. This study has a key advantage, which is the ability to combine the experimental variation of a large unconditional cash transfer with exceptionally rich data, and this is what we are going to show now. We can classify the effects of this income in two ways: at the employment level and at the health level.

Effects at employment level:

The transfer caused a decline in total revenue of the individuals in the treatment group of about $1,500 a year relative to the control group, excluding transfers.
The participants of the treatment group reduced their weekly working hours by 1.3 to 1.4 hours, just like their partners did.
It was observed a Increase in time spent on leisureas well as increases (albeit smaller) in the use of transport and finance.
For each dollar received, total household income (excluding transfers) decreased by at least 21 cents in the treatment group.
As for the quality of jobsno improvement is observed.
Over the three years that the transfers lasted, the average length of the unemployment spell in the control group was 7.7 months, while the treatment group had the effect of increasing this duration by 1.1 months. That is, the group that received the 1,000 dollars a month was unemployed longer than the group that received the $50.
It was observed that participants in the treatment group had more interest in the business activities and were willing to take more financial risks.

Health effects:

No increase in time spent was observed childcare, physical exercise, job searching or self-improvement.
In terms of health, the cash transfer resulted in significant improvements, but short-term in stress and eating habits, and increased use of hospital and emergency services, and an increase in medical spending of approximately $20 per month in the treatment group compared with the control group. However, no effect was observed on several measures of physical health, as well as no improvement in mental health, sleepor physical activity.

In summary, we have seen that at the level of employment and income this transfer did not even improve employment, since the participants preferred to make use of leisure time, reducing their weekly working hours. It is striking that the total income of the treatment group was $1,500 lower than that of the control group, since the former was the one that received $1,000 per month. This This is explained by the fact that the treatment group preferred to use unemployment benefits rather than look for a better job or start a business.. At the health level, we have been able to see how improvements occurred in indicators such as stress or nutrition, although they were not long-lasting. Mental health, sleep or physical health did not change significantly for the better.

Therefore, if we stick to this ambitious and consistent experiment, we see that the unconditional rent of $1,000 per month for three years Not only has it not improved the health of those who have received it, but it has also caused a disincentive to employment, since its recipients preferred to have less annual income in order to work less or not work. This work provides further evidence to rule out the implementation of a UBI for everyoneeven if in the minds of its promoters it may seem like a wonderful idea.

August 22, 2024 0 comments

Business

Credit for free use (including real estate)

by Chief editor of world-today-news.com August 13, 2024

written by Chief editor of world-today-news.com

Good day,

We want to purchase a property in Ireland as a holiday home for our own use and optionally to rent out.
However, financing is much more complicated than we would have expected.
After some back and forth, we found an Irish bank that would finance it, but would rule out renting. But we would at least like to keep the option.

We then looked at loans for general use, as we would have accepted the worse conditions if in doubt, as the amount (140k) and term (10 years) would have been manageable.
However, we discovered that while you can buy any kind of nonsense with loans for free use, you cannot buy land or real estate. These are the only things that are excluded from the loan terms at every bank.
Why is it not clear to us (perhaps because of possible follow-up costs?!) who has the background to this? That would be interesting purely out of interest.

Now to the actual question: does anyone have any tips on how to get the financing done?

Framework data (EUR):
Property value:210,000
Equity: 70,000 (another 10-15k for additional costs)
Desired external capital: 140,000
Borrowers: both spouses
Income: 5,000 + 4,600 net = 9,600 total (fixed, plus bonuses).

Existing real estate: a house (600k market value, 240k remaining debt), an apartment (160k market value, no remaining debt, but usufruct on it)

We have read that German banks sometimes give loans for foreign real estate if you can provide a paid-off property as collateral.
In our case, that would only be the apartment, but because of the usufruct (of the mother), this is of little use as security. Perhaps the mother would agree to the use as security. However, I don’t know how that would be structured contractually.

August 13, 2024 0 comments

Business

Working pensioners: How they scale back the solidarity contribution – 2024-07-14 21:11:35

by Chief editor of world-today-news.com July 14, 2024

written by Chief editor of world-today-news.com

The “explosion” of the declarations of working pensioners, which reached 185,000 for the reason that starting of the 12 months, brings monetary taxation to EFKA.

It’s estimated that this particular measure will increase the fund’s earnings by 300 million per 12 months and offers the management of the ministry the chance to extra simply deal with the reduction measures it’s planning for the approaching autumn, the primary one being the discount of the Retiree Solidarity Contribution (EAS).

The AKAGE

On the identical time, the 16 billion euros which have been collected within the Insurance coverage Fund of Solidarity of Generations (AKAGE) to date, give the likelihood to consider decreasing the speed of accumulation of extra quantity, for the safety of the system sooner or later.

In response to latest statements by the Minister of Labor, the brand new solidarity contribution must be extra proportional, guaranteeing that after its cost, the quantity of the pension is not going to fall under the ceiling of the dimensions on which it was imposed.

The Pensioner Solidarity Contribution

The Pensioner Solidarity Contribution issues 500,000 pensioners with pensions of greater than 1,400 euros. It funds the AKAGE account (Era Solidarity Insurance coverage Fund) wherein it’s estimated that round 16 billion euros have been collected.

The federal government is contemplating reforming the levy, which is a request from pensioners. This levy is imposed on pensions over 1,400 euros on a staggered foundation and ranges from 3% to 14%.

A working group established on the ministry is engaged on situations for enhancing the Pensioners’ Solidarity Contribution, whereas the competent Deputy Minister of Labor, Mr. P. Tsakloglou, notes that “there are problematic factors within the construction of the EAS, which want enchancment”. The deputy minister was in favor of constant the implementation of the levy, which acted “as a bulwark of the insurance coverage system in opposition to the pressures of the demographic getting old of the inhabitants”.

The funds

In fact, Mr. Tsakloglou – in any case – clarifies that any adjustment and normalization that’s made must be as fiscally impartial as potential so as to not disturb the nation’s fiscal steadiness, nor the funds of the ACE, which issues cash meant for the brand new technology.

The 2 fundamental situations for the brand new regulation foresee: First, the change of the structure of the levy, in order that it’s not imposed from the “first euro” however solely on the quantity that exceeds the ceiling of every tier. That’s, one thing related to what’s utilized to earnings taxation. Secondly, the discount of the contribution charges, in order that they don’t double from the primary to the second bracket (from 3% to six%).

Working pensioners

The 185,000 pensioners who’ve declared their work on the particular platform generate surprising earnings for the EFKA which – yearly – might exceed 300 million euros.

The abolition of the penalty gave the chance to tens of hundreds of pensioners to come back out of obscurity, with out fearing a reduce of their pension.

With the brand new regulation (L. 5078/2023), the pension penalty was abolished and changed by an additional useful resource of 10% of the wage they obtain from their employment (if they’re employed), whereas retired freelancers give as an additional useful resource the half insurance coverage contribution from the pension sector.

Pensioner employment earnings was not predicted within the 2024 Price range as a result of it was drawn up earlier than the Pensioner Work Modifications Act was handed and, moreover, it was not potential to foretell what number of would ultimately declare their employment.

Supply: ot.gr.

#Working #pensioners #scale back #solidarity #contribution

July 14, 2024 0 comments

News

the federal government to lift income; Plans shall be minimize; Allocate cash on precedence foundation

by Chief editor of world-today-news.com July 12, 2024

written by Chief editor of world-today-news.com

Chief Minister Pinarayi Vijayan Fb

Thiruvananthapuram: The Authorities has devised a plan to extend income because of the extreme monetary disaster. The choice is to extend non-tax income. As a part of this, the price ranges will improve. It was additionally determined to chop the portion of the venture.

Obtain Samakaliam Malayalam to get newest information Newest information

Initiatives shall be prioritized any more. A sub-committee of seven ministers shall be appointed to resolve on priorities. The cupboard sub-committee will resolve on the price of the venture. The sub-committee will research the suggestions of the assorted regional secretaries and repair the priorities. This precedence will even apply to the allocation of funds to ongoing tasks.

The cupboard assembly has additionally determined to extend non-tax income. For this, the speed of assorted taxes shall be revised. The federal government has instructed the secretaries of the division to submit the assignments by the twentieth of this month.

Up to date Malayalam is now accessible on WhatsApp. For the most recent information Simply click on

2024-07-11 16:45:58
#authorities #increase #income #Plans #minimize #Allocate #cash #precedence #foundation

July 12, 2024 0 comments

Entertainment

After 14 days since its launch, Turki Al-Sheikh reveals the quantity of earnings of the movie Sons of Rizk 3 … and solutions to those that doubt the success of the movie.

by Chief editor of world-today-news.com July 1, 2024

written by Chief editor of world-today-news.com

Al-Marsad Newspaper: The pinnacle of the Common Leisure Authority, Councilor Turki Al-Sheikh, revealed the quantity of earnings generated by the film Sons of Rizk 3, inside two weeks of its launch. unfold in theaters.

Al-Sheikh mentioned via his account of the

He mentioned: “My greatest needs to those that mentioned that what was spent on the movie can’t be achieved, and the availability of aggressive content material with a top quality increased than the market, and a profitable story that achieves the objective and the profit, which in addition to profitable promoting for the Riyadh season.”

He continued: “We are going to take related measures, calculated, and select fastidiously, and we’ll announce that quickly, and we’ll meet the outcomes of the earnings of Awlad Rizq 3 after 8 weeks, God prepared, work out what was achieved quantity collectively.”

Al-Sheikh concluded: “Awlad Rizk, in partnership with Riyadh Season and GEA, modified the idea of manufacturing within the Arab world, and that is what’s necessary supporting creativity wherever is it.

July 1, 2024 0 comments

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