The balance of travel services posted a surplus of €432.1 million in April 2022 and a surplus of €633.0 million in January-April 2022
Balance of travel services
Based on provisional data, the balance of travel services in April 2022 posted a surplus of €432.1 million, up from a surplus of €3.2 million in April 2021. More specifically, travel receipts in April 2022 rose by 1,000.4% to €647.0 million, from €58.8 million in April 2021, while travel payments also increased by 286.1% (April 2022: €214.8 million, April 2021: €55.6 million). The rise in travel receipts stemmed from an 884.3% increase in inbound traveller flows and a 7.7% rise in average expenditure per trip. Net receipts from travel services offset 14.7% of the goods deficit and contributed 53.0% to total net receipts from services.
In January-April 2022, the balance of travel services showed a surplus of €633.0 million, up from a surplus of €18.4 million in the same period of 2021. Travel receipts rose by €951.7 million or 576.7% to €1,116.7 million, while travel payments increased by €337.1 million or 230.0% to €483.7 million. The rise in travel receipts is attributed to a 462.7% increase in inbound traveller flows, as well as to a rise of 17.1% in average expenditure per trip. Net receipts from travel services offset 5.4% of the goods deficit and contributed 33.3% to total net receipts from services.
Travel receipts
In April 2022, travel receipts rose by 1,000.4% year-on-year. In more detail, receipts from residents of EU27 countries increased by 822.0% to €344.8 million, while receipts from outside the EU27 rose by 1,200.8% (April 2022: €278.3 million, April 2021: €21.4 million). The rise in receipts from within the EU27 is attributed to increases in receipts from euro area residents by 842.6% to €310.4 million (April 2021: €32.9 million) and in receipts from residents of non-euro area EU27 countries by 669.5% to €34.4 million.
More specifically, among major euro area countries of origin, receipts from Germany rose by 951.3% to €111.7 million and receipts from France increased by 1,530.6% to €75.4 million. Turning to non-EU27 countries, receipts from the United Kingdom rose considerably to €80.9 million as well as receipts from the United States to €33.0 million. Receipts from Russia also increased, by 77.4% to €2.0 million.
In January-April 2022, travel receipts totalled €1,116.7 million, up by 576.7% relative to the same period of 2021. This development was due to increases in receipts from residents of the EU27 by 472.1% to €582.2 million and in receipts from residents outside the EU27 by 698.0% to €504.6 million. In greater detail, receipts from euro area residents rose by 514.7% to €495.4 million, while receipts from residents of non-euro area EU27 countries increased by 310.1% to €86.9 million.
In particular, receipts from Germany increased by 533.7% to €177.7 million and receipts from France increased by 1,113.4% to €99.0 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 1,229.8% to €128.0 million, while receipts from the United States increased by 2,098.1% to €67.4 million. Receipts from Russia also increased, by 503.0% to €7.8 million.
Inbound traveller flows
The number of inbound travellers in April 2022 rose by 884.3% year-on-year to 1,056.0 thousand. Specifically, traveller flows through airports increased by 1,494.3% year-on-year as did traveller flows through road border-crossing points, by 427.5%. This overall increase was due to higher traveller flows from both within the EU27 (up by 874.7%) and outside the EU27 (up by 897.4%). In greater detail, the number of travellers from within the euro area rose by 1,012.4% to 471.7 thousand, while travellers from non-euro area EU27 countries increased by 571.9% to 129.7 thousand.
Specifically, the number of travellers from Germany increased by 1,113.0% to 149.9 thousand and travellers from France increased by 2,434.1% to 92.4 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose considerably to 123.3 thousand, as did the number of travellers from the United States to 41.6 thousand; travellers from Russia also increased by 566.8% to 2.9 thousand.
In January-April 2022, the number of inbound travellers rose by 462.7% to 2,128.7 thousand (January-April 2021: 378.3 thousand). Specifically, traveller flows through airports increased by 774.4%, as did traveller flows through road border-crossing points, by 258.1%. In the period under review, the number of travellers from within the EU27 rose by 440.4% year-on-year to 1,193.7 thousand, while travellers from outside the EU27 increased by 493.9% to 935.0 thousand. The number of travellers from within the euro area rose by 558.6% and the number of travellers from non-euro area EU27 countries increased by 253.0%.
Specifically, travellers from Germany increased by 507.9% to 301.3 thousand and travellers from France increased by 1,102.9% to 146.1 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 1,048.0% to 214.9 thousand, while the number of travellers from the United States increased considerably to 79.3 thousand and from Russia by 1,050.7% to 11.6 thousand.
Comparison with 2019, the last year before the pandemic
In April 2022, compared with April 2019, travel receipts rose by 19.0%. Average expenditure per trip also increased, as did inbound tourist flows, by 15.0% and 7.5%, respectively.
In January-April 2022, compared with January-April 2019, travel receipts declined by 13.4%. Average expenditure per trip increased by 20.3% and inbound tourist flows decreased by 27.1%.
Latest News
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction