BoG: Travel receipts up by 30.7% in Jan-May 2023 period

The Bank of Greece (BoG) on Monday announced that the balance of travel services in the country posted a surplus of 1.538 billion euros in May 2023, along with a surplus of 2.33 billion euros over the January-May 2023 period.

The country’s central bank reported that travel receipts rose by 24.8 percent in May 2023 and by 30.7 percent in January-May 2023 period.

Moreover, inbound traveller flows increased by 13.9 percent in May 2023 and by 32.9 percent in January-May 2023, the BoG announced.

Based on provisional data, the balance of travel services in May 2023 showed a surplus of 1.538 billion euros, up from a surplus of 1.204 billion euros in May 2022. Specifically, travel receipts in May 2023 rose by 24.8 percent compared to May 2022, while travel payments also increased by 6.4 percent – 209.2 million euros in May 2023 compared to 196.6 million euros in the corresponding month of 2022:

The rise in travel receipts was attributed to a 13.9-percent increase in inbound traveller flows, as well as to a rise of 9.0 percent in average expenditure per trip. Net receipts from travel services offset 51.0 percent of the goods deficit and contributed 89.0 percent to total net receipts from services.

In January-May 2023 period, the balance of travel services showed a surplus of 2.330 billion euros, up from a surplus of 1.783 billion euros in the same period of 2022. Travel receipts rose by 761.3 million euros, or 30.7 percent, to 3.244 billion euros, while travel payments increased by 214.2 million euros, or 30.6 percent, to 913.9 million euros.

The entire report is here: https://www.bankofgreece.gr/en/news-and-media/press-office/news-list/news?announcement=1c9ad5f7-e34f-455c-ac56-61fcf0053ab1