Based on provisional data, of Bank of Greece, the balance of travel services in April 2017 showed a surplus of €247 million, compared with a surplus of €263 million in April 2016.
More specifically, travel receipts rose by 11.3% to €484 million in April 2017, from €435 million in the same month of 2016. Travel payments also increased, by 38.1% (April 2017: €237 million, April 2016: €171 million). The rise in travel receipts was due to a 12.0% increase in inbound traveller flows, as average expenditure per trip fell slightly, by 0.4%. Net receipts from travel services offset 20.9% of the goods deficit and accounted for 40.0% of total net receipts from services.
In January-April 2017, the balance of travel services showed a surplus of €387 million, up 14.1% from a surplus of €340 million in the same period of 2016. This development was driven by both an increase in travel receipts (up €23 million or 2.4%) and a drop in travel payments (down €24 million or 3.8%). The rise in travel receipts is attributed to a 3.2% increase in inbound traveller flows, as average expenditure per trip fell slightly, by 0.8%. Net receipts from travel services offset 6.2% of the goods deficit and accounted for 23.1% of total net receipts from services.
Travel receipts
In April 2017, as mentioned previously, travel receipts rose by 11.3% year-on-year. In more detail, receipts from residents of the EU28 increased by 24.2% to €277 million, whereas receipts from outside the EU28 dropped by 3.6% (April 2017: €180 million, April 2016: €186 million). The rise in receipts from within the EU28 was due to a 54.9% increase in receipts from euro area residents (April 2017: €207 million, April 2016: €134 million), as receipts from residents of non-euro area EU28 countries fell by 22.0%. Breaking down receipts by visitor’s country of origin, receipts from France rose by 147.5% to €67 million and those from Germany by 39.3% to €57 million. Receipts from the United Kingdom decreased by 33.5% to €36 million. Turning to non-EU28 countries, receipts from Russia dropped by 38.0% to €7 million and those from the United States by 55.9% to €25 million.
In January-April 2017, travel receipts increased by 2.4%, relative to the same period of 2016, to €997 million. This development is attributed to a 9.2% rise in receipts from within the EU28 to €545 million, as receipts from outside the EU28 fell by 5.6% to €412 million. In particular, receipts from euro area residents increased by 29.3% to €381 million and receipts from residents of non-euro area EU28 countries dropped by 19.9% to €164 million. Specifically, receipts from France rose by 89.3% to €81 million and those from Germany by 20.6% to €112 million. Receipts from the United Kingdom decreased by 33.1% to €70 million. Turning to non-EU28 countries, receipts from Russia dropped by 1.4% to €23 million and those from the United States by 27.0% to €78 million.
Inbound traveller flows (1)
The number of inbound visitors in April 2017 rose by 12.0% year-on-year to 1,010 thousand. Specifically, visitor flows through airports increased by 10.0%, while visitor flows through road border-crossing points also rose, by 12.4%. This development is attributed to higher visitor flows from within the EU28 (up 21.3%), as visitor flows from outside the EU28 remained stable. In greater detail, visitors from the euro area increased by 50.6% to 348 thousand, while visitors from the non-euro area EU28 countries decreased by 3.1% (April 2017: 270 thousand, April 2016: 279 thousand). Specifically, visitors from France increased by 108.9% to 91 thousand, while visitors from Germany also rose, by 52.4%, to 92 thousand. Visitors from the United Kingdom decreased by 18.3% to 81 thousand. Turning to non-EU28 countries, the number of visitors from Russia decreased by 33.2% to 14 thousand, as did the number of visitors from the United States, by 43.9%, to 36 thousand.
In January-April 2017, the number of inbound visitors increased by 3.2% to 2,602 thousand, from 2,523 thousand in the same period of 2016. Specifically, visitor flows through airports increased by 11.0%, while visitor flows through road border-crossing points declined by 7.9%. In the period under review, visitors from within the EU28 increased by 9.6% year-on-year to 1,574 thousand, whereas visitors from outside the EU28 decreased by 5.4% to 1,029 thousand. Visitors from the euro area rose by 33.8%, while visitors from the non-euro area EU28 countries decreased by 7.6%. Specifically, the number of visitors from France increased by 42.4% to 119 thousand, as did the number of visitors from Germany, by 38.7%, to 247 thousand. Visitors from the United Kingdom decreased by 16.6% to 172 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia decreased by 4.9% to 38 thousand, as did the number of visitors from the United States, by 6.4%, to 117 thousand.
(1) Inbound traveller flows exclude cruise passengers (other than those recorded in the Border Survey).
More details in the following link Developments in the balance of travel services: April 2017 – Table
