Balance of travel services posts a surplus of 731.4 mln€ in Jan-Apr period; up from a surplus of 579.3mln in same period of 2022

The balance of travel services in Greece in April 2023 showed a surplus of 498.2 million euros, based on provisional data, and up from a surplus of 429.2 million in April 2022, the Bank of Greece announced on Wednesday.

Specifically, travel receipts in April 2023 rose by 19.9 percent to 761.1 million, from 634.9 million in April 2022, while travel payments also increased by 27.8 percent (April 2023: 262.9 million, April 2022: 205.7 million).
The rise in travel receipts was due to a 30-percent increase in inbound traveller flows, as average expenditure per trip declined by 8.4 percent. Net travel receipts offset 21.9 percent of the goods deficit and contributed 60.1 percent to total net services receipts.
In the January-April period, the balance of travel services posted a surplus of 731.4 million euros, up from a surplus of 579.3 million in the same period of 2022. Travel receipts rose by 411.7 million, or 38.0 percent, to 1,494 million, while travel payments increased by 259.5 million, or 51.6 percent, to 762.6 million. The rise in travel receipts reflected a 52.5 percent increase in inbound traveller flows, as average expenditure per trip fell by 9.6 percent. Net travel receipts offset 7.6 percent of the goods deficit and contributed 40.1 percent to total net services receipts.

The rise in April receipts from within the EU27 is attributed to increases in receipts from euro area residents by 4.6 percent (April 2023: 326.3 million, April 2022: 311.8 million) and in receipts from residents of non-euro area EU27 countries by 92.2 percent to 58.9 million. More specifically, among major euro area countries of origin, receipts from Germany increased by 1.9 percent to 117.3 million, as did receipts from France, by 0.8 percent to 69.1 million.