Οικονομία

Bank of Greece: Travel receipts grew up by 13.6% for January-August 2019

In January-August 2019, the balance of travel services showed a surplus of €11,402 million, up from a surplus of €10,225 million in the same period of 2018.

Based on provisional data, the balance of travel services showed a surplus of €3,927 million in August 2019, compared with a surplus of €3,432 million in the same month of 2018. More specifically, travel receipts in August 2019 rose by 16.1% to €4,183 million, from €3,601 million in August 2018, while travel payments also increased by 50.6% (August 2019: €255 million, August 2018: €170 million). The rise in travel receipts is attributed to a 4.8% year-on-year increase in average expenditure per trip, as well as to a rise of 11.0% in inbound traveller flows.

In January-August 2019, the balance of travel services showed a surplus of €11,402 million, up from a surplus of €10,225 million in the same period of 2018. This development is attributed to an increase, by 13.6% or €1,583 million, in travel receipts, which were only partly offset by travel payments, up by 28.3% or €406 million. The rise in travel receipts is attributed to a 9.8% increase in average expenditure per trip, as well as to a rise of 3.6% in inbound traveller flows.

Travel receipts

In August 2019, as mentioned previously, travel receipts rose by 16.1% year-on-year. In more detail, receipts from residents of the EU28 increased by 17.6% to €3,051 million, while receipts from outside the EU28 rose by 12.6% (August 2019: €1,059 million, August 2018: €941 million). The rise in receipts from within the EU28 was due to increases in receipts from euro area residents by 4.8% (August 2019: €1,838 million, August 2018: €1,754 million) and in receipts from residents of non-euro area EU28 countries by 44.4% to €1,213 million. Among major countries of origin, receipts from Germany decreased by 8.3% to €549 million, whereas receipts from France increased by 7.9% to €287 million. Receipts from the United Kingdom also increased by 54.7% to €637 million. Turning to non-EU28 countries, receipts from the United States rose by 12.1% to €186 million, while receipts from Russia increased by 87.5% to €113 million.

In January-August 2019, travel receipts totalled €13,242 million, up by 13.6% relative to the same period of 2018. This development was driven by a 12.7% increase in receipts from residents of the EU28, which came to €9,145 million, and by a 16.5% rise in receipts from residents outside the EU28 to €3,788 million. In particular, receipts from euro area residents increased by 8.5% to €5,651 million, while receipts from residents of non-euro area EU28 countries increased by 20.2% to €3,494 million. Specifically, receipts from Germany fell by 4.8% to €1,961 million, while receipts from France rose by 13.5% to €825 million. Receipts from the United Kingdom also increased, by 33.6% to €1,949 million. Turning to non-EU28 countries, receipts from the United States increased by 13.3% to €763 million and receipts from Russia increased by 20.4% to €313 million.

Inbound traveller flows

The number of inbound visitors in August 2019 stood at 6,762 thousand, compared with 6,093 thousand in August 2018. Specifically, visitor flows through airports increased by 1.8%, while visitor flows through road border-crossing points increased by 29.8%. This increase in flows was due to higher visitor flows from both within the EU28 (up 13.3%) and outside the EU28 (up 4.8%). In greater detail, the number of visitors from within the euro area fell by 8.5% to 2,310 thousand, whereas visitors from the non-euro area EU28 countries increased by 42.6% (August 2019: 2,695 thousand, August 2018: 1,890 thousand). Specifically, the number of visitors from Germany decreased by 7.1% to 718 thousand, while visitors from France fell by 4.6% to 338 thousand. By contrast, visitors from the United Kingdom rose by 40.0% to 741 thousand.

In January-August 2019, the number of inbound visitors rose by 3.6% to 21,842 thousand (January-August 2018: 21,088 thousand). Specifically, visitor flows through airports increased by 2.4% and visitor flows through road border-crossing points increased by 5.6%. In the period under review, the number of visitors from within the EU28 increased by 2.7% year-on-year to 15,402 thousand, while the number of visitors from outside the EU28 increased by 5.8% to 6,440 thousand. Visitors from within the euro area declined by 3.2%, whereas visitors from the non-euro area EU28 countries rose by 9.5%.

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