Based on provisional data by the Bank of Greece, the balance of travel services showed a surplus of €2,038 million in September 2016, up 1.0% from a surplus of €2,018 million in September 2015. More specifically, travel receipts in September 2016 rose to €2,232 million (up 2.3% from €2,182 million in September 2015), while travel payments increased by 17.9% (September 2016: €193 million, September 2015: €164 million). The rise in travel receipts resulted from a 13.7% increase in inbound traveller flows, as average expenditure per trip decreased by 10.1%. Net receipts from travel services accounted for 81.9% of total net receipts from services and more than offset (148.8%) the goods deficit.
In January-September 2016, the balance of travel services showed a surplus of €10,472 million, down 7.1% from a surplus of €11,269 million in the same period of 2015. This development was driven by both a decrease in travel receipts (down €703 million or 5.5%) and an increase in travel payments (up €94 million or 6.2%). The fall in travel receipts resulted from a 9.3% decline in average expenditure per trip, as inbound traveller flows rose by 3.5%. Net receipts from travel services offset 86.5% of the goods deficit and accounted for 78.5% of total net receipts from services.
Travel receipts
In September 2016, as mentioned previously, travel receipts rose by 2.3% year-on-year. Looking at the breakdown by visitor’s country of origin, receipts from residents of the EU28 increased by 4.4% (September 2016: €1,603 million, September 2015: €1,536 million), while receipts from outside the EU28 dropped by 3.3% (September 2016: €569 million, September 2015: €588 million). The increase in receipts from within the EU28 was due to a rise of €188 million or 36.7% in receipts from residents of non-euro area EU28 countries, as receipts from euro area residents fell by 11.8 % (September 2016: €903 million, September 2015: €1,023 million). Among major countries of origin, receipts from Germany fell by 17.8% to €357 million and those from France dropped by 24.7% to €136 million. Receipts from the United Kingdom increased by 39.7% to €377 million. Turning to non-EU28 countries, receipts from Russia rose by 39.6% to €97 million, while those from the United States fell by 36.9% to €112 million.
In January-September 2016, travel receipts decreased by 5.5% to €12,085 million, relative to the same period of 2015. This development is attributed to lower receipts from both within the EU28 (down 2.8% to €8,389 million) and outside the EU28 (down 13.5% to €3,278 million). In particular, receipts from euro area residents fell by 7.4% to €5,093 million, while those from residents of non-euro area EU28 countries rose by 5.2% to €3,296 million. Specifically, receipts from Germany dropped by 10.4% to €1,798 million and those from France by 24.3% to €842 million. Receipts from the United Kingdom also decreased, by 5.6% to €1,763 million. Turning to non-EU28 countries, receipts from Russia rose by 5.4% to €410 million, while those from the United States fell by 26.7% to €628 million.
Inbound traveller flows
The number of inbound visitors in September 2016 rose by 13.7% year-on-year to 4,150 thousand. Specifically, visitor flows through airports and road border-crossing points rose by 9.5% and 17.5% respectively. This development reflected a 21.4% increase in visitor flows from within the EU28, as visitor flows from outside the EU28 fell by 2.3%. In greater detail, visitor flows from the euro area rose by 1.1% to 1,449 thousand and those from the non-euro area EU28 countries increased by 49.6% (September 2016: 1,544 thousand, September 2015: 1,032 thousand). Specifically, visitor flows from Germany decreased by 8.1% to 513 thousand, while those from France fell by 13.8% to 208 thousand. Visitor flows from the United Kingdom increased by 58.1% to 527 thousand. Turning to non-EU28 countries, visitor flows from Russia rose by 44.2% to 130 thousand, while those from the United States fell by 34.0% to 89 thousand.
The number of inbound visitors in January-September 2016 increased by 3.5% to 21,345 thousand (January-September 2015: 20,617 thousand). Specifically, visitor flows through airports rose by 6.8%, while those through road border-crossing points fell by 5.4%. In the period under review, visitor flows from within the EU28 increased by 13.1% year-on-year to 14,838 thousand, whereas those from outside the EU28 fell by 13.2% to 6,506 thousand. Visitor flows from the euro area rose by 6.9% and those from the non-euro area EU28 countries by 20.5%. Specifically, visitor flows from Germany rose by 6.2% to 2,536 thousand, while those from France fell by 11.6% to 1,186 thousand. Visitor flows from the United Kingdom increased by 15.6% to 2,456 thousand. Finally, turning to non-EU28 countries, visitor flows from Russia increased by 18.9% to 525 thousand, while those from the United States decreased by 2.8% to 640 thousand.
Related link: Developments in the balance of travel services: September 2016 – Table
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