BoG:Travel receipts soar 78.3% in January-September 2022
Balance of travel services posted a surplus of €2,669.4 million in September 2022 and a surplus of €14,128.2 million in January-September 2022.
Based on Bank of Greece's provisional data, the balance of travel services in September 2022 showed a surplus of €2,669.4 million, up from a surplus of €1,983.0 million in September 2021.
More specifically, travel receipts in September 2022 rose by 35.1% to €2,855.4 million, from €2,113.2 million in September 2021, while travel payments also increased by 42.8% (September 2022: €185.9 million, September 2021: €130.2 million).
The rise in travel receipts was due to a 52.3% increase in inbound traveller flows, as average expenditure per trip declined by 11.3%. Net receipts from travel services offset 72.0% of the goods deficit and contributed 90.3% to total net receipts from services.
In September 2022, as previously mentioned, travel receipts rose by 35.1% year-on-year. In more detail, receipts from residents of EU27 countries increased by 19.4% to €1,553.9 million, while receipts from outside the EU27 increased by 61.3% (September 2022: €1,245.5 million, September 2021: €772.2 million).
The rise in receipts from within the EU27 is attributed to increases in receipts from euro area residents by 14.0% (September 2022: €1,219.4 million, September 2021: €1,069.5 million) and in receipts from residents of non-euro area EU27 countries by 44.1% to €334.5 million.
The number of inbound travellers in September 2022 rose by 52.3% year-on-year to 4,560.3 thousand. Specifically, traveller flows through airports increased by 41.6% relative to the same month of the previous year, while traveller flows through road border-crossing points rose by 118.4%.
This overall increase was due to higher traveller flows from both within the EU27 (up by 38.3%) and outside the EU27 (up by 81.7%). In greater detail, travellers from within the euro area rose by 21.6% to 1,834.6 thousand, while travellers from non-euro area EU27 countries increased by 86.4% to 978.4 thousand.
Specifically, the number of travellers from Germany increased by 7.0% to 726.9 thousand, while the number of travellers from France stood at 231.3 thousand, almost unchanged from September 2021. Turning to non-EU27 countries, the number of travellers from the United Kingdom increased by 87.0% to 844.9 thousand, while the number of travellers from the United States increased by 121.2% to 188.7 thousand.
The number of travellers from Russia decreased by 65.1% to 4.4 thousand.
Find out more in the Bank of Greece' official press statement.