More specifically, travel receipts in May 2023 rose by 24.8% to €1,748.1 million, from €1,400.7 million in May 2022, while travel payments also increased by 6.4% (May 2023: €209.2 million, May 2022: €196.6 million). The rise in travel receipts was due to a 13.9% increase in inbound traveller flows, as well as to a rise of 9.0% in average expenditure per trip. Net receipts from travel services offset 51.0% of the goods deficit and contributed 89.0% to total net receipts from services.
In January-May 2023, the balance of travel services showed a surplus of €2,330.4 million, up from a surplus of €1,783.4 million in the same period of 2022. Travel receipts rose by €761.3 million, or 30.7%, to €3,244.3 million, while travel payments increased by €214.2 million, or 30.6%, to €913.9 million.
The rise in travel receipts reflected a 32.9% increase in inbound traveller flows, as average expenditure per trip fell by 2.4%. Net receipts from travel services offset 18.4% of the goods deficit and contributed 64.5% to total net receipts from services.
In May 2023, as aforementioned, travel receipts rose by 24.8% year-on-year. In more detail, receipts from within the EU27 increased by 22.4% to €997.2 million, while receipts from non-EU27 residents rose by 27.0% (May 2023: €678.9 million, May 2022: €534.7 million).
The rise in receipts from residents of the EU27 is attributed to increases in receipts from euro area residents by 20.8% (May 2023: €871.1 million, May 2022: €720.9 million) and in receipts from residents of non-euro area EU27 countries by 34.6% to €126.2 million.
More specifically, among major euro area countries of origin, receipts from Germany increased by 29.2% to €417.4 million and receipts from France rose by 42.5% to €160.7 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 3.0% to €262.3 million, while receipts from the United States grew by 48.1% to €159.2 million. Receipts from Russia also increased, by 575.0% to €4.0 million.
