Based on provisional data by the Bank of Greece, in July 2017 the balance of travel services showed a surplus of €2,735 million, up 6.6% from a surplus of €2,566 million in July 2016. More specifically, travel receipts rose by 5.3% to €2,925 million in July 2017, from €2,777 million in the same month of 2016, while travel payments decreased by 9.8% (July 2017: €190 million, July 2016: €211 million). The rise in travel receipts is attributed to a 10.2% increase in inbound traveller flows, as average expenditure per trip fell by 4.5% to €552. Net receipts from travel services accounted for 84.4% of total net receipts from services and more than offset (181.3%) the goods deficit.
In January-July 2017, the balance of travel services showed a surplus of €5,909 million, up 8.1% from a surplus of €5,467 million in the same period of 2016. This development was driven by both an increase in travel receipts (up €420 million or 6.4%) and a drop in travel payments (down €21 million or 1.9%). The rise in travel receipts was due to an 8.0% increase in inbound traveller flows, as average expenditure per trip declined by 1.4%. Net receipts from travel services offset 55.3% of the goods deficit and accounted for 69.6% of total net receipts from services.
Travel receipts
In July 2017, as mentioned previously, travel receipts increased by 5.3% year-on-year. In more detail, receipts from residents of the EU28 rose by 2.4% to €1,910 million, while receipts from outside the EU28 also rose, by 11.8% (July 2017: €930 million, July 2016: €832 million). The rise in receipts from within the EU28 was due to increased receipts by 3.6% from euro area residents (July 2017: €1,173 million, July 2016: €1,132 million) and by 0.5% from residents of non-euro area EU28 countries (July 2017: €738 million, July 2016: €734 million). Breaking down receipts by visitor’s country of origin, receipts from France fell by 11.0% to €188 million, whereas receipts from Germany increased by 10.1% to €370 million. Receipts from the United Kingdom also increased by 12.7% to €385 million. Turning to non-EU28 countries, receipts from Russia rose by 12.0% to €110 million, whereas receipts from the United States decreased by 11.6% to €127 million.
In January-July 2017, travel receipts increased by 6.4% year-on-year to €7,039 million. This development is attributed to increases in receipts from within the EU28 by 5.6% to €4,595 million and in receipts from outside the EU28 by 8.5% to €2,195 million. In particular, receipts from euro area residents rose by 9.7% to €2,868 million, whereas receipts from residents of non-euro area EU28 countries fell by 0.7% to €1,727 million. Specifically, receipts from France rose by 3.9% to €465 million and receipts from Germany increased by 13.5% to €1,059 million. Receipts from the United Kingdom also increased, by 7.5% to €1,015 million. Turning to non-EU28 countries, receipts from Russia rose by 11.3% to €231 million, whereas receipts from the United States decreased by 11.2% to €366 million.
Inbound traveller flows
In July 2017, the number of inbound visitors rose by 10.2% year-on-year to 5,142 thousand. Specifically, visitor flows through airports increased by 10.3% and visitor flows through road border-crossing points increased by 10.6%. This development is attributed to higher visitor flows from both within the EU28 (up 8.7%) and outside the EU28 (up 13.4%). In greater detail, visitors from the euro area increased by 6.9% to 1,737 thousand, while visitors from the non-euro area EU28 countries also rose, by 10.7% (July 2017: 1,679 thousand, July 2016: 1,517 thousand). Specifically, the number of visitors from France increased by 4.4% to 274 thousand, as did the number of visitors from Germany, by 13.9% to 514 thousand. The number of visitors from the United Kingdom also increased, by 24.3% to 560 thousand. Turning to non-EU28 countries, the number of visitors from Russia rose by 6.4% to 127 thousand, whereas the number of visitors from the United States fell by 14.9% to 117 thousand.
In January-July 2017, the number of inbound visitors rose by 8.0% to 13,082 thousand (January-July 2016: 12,111 thousand). Specifically, visitor flows through airports increased by 10.9%, while visitor flows through road border-crossing points also increased, by 1.8%. In the period under review, the number of visitors from within the EU28 increased by 8.2% year-on-year to 8,748 thousand, as did the number of visitors from outside the EU28, by 7.7% to 4,334 thousand. Visitors from the euro area increased by 13.8%, while visitors from the non-euro area EU28 countries also rose, by 2.6%. Specifically, the number of visitors from France increased by 9.0% to 687 thousand, as did the number of visitors from Germany, by 16.6% to 1,562 thousand. Visitors from the United Kingdom also increased, by 10.1% to 1,518 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia increased by 11.4% to 313 thousand, whereas the number of visitors from the United States fell by 6.2% to 416 thousand.
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