Greek travel receipts fell by 71% in March

Based on provisional data, the balance of travel services in March 2020 showed an estimated[1] surplus of €32 million, compared with a surplus of €68 million in March 2019. More specifically, travel receipts in March 2020 fell by 71.0% to €92 million, from €318 million in March 2019, while travel payments also decreased by 75.7% (March 2020: €61 million, March 2019: €250 million). The fall in travel receipts resulted from a 46.8% decline in inbound traveller flows and a 45.7% decrease in average expenditure per trip. Net receipts from travel services offset 1.8% of the goods deficit and accounted for 8.9% of total net receipts from services.

In January-March 2020, the balance of travel services showed a surplus of €185 million, up from a surplus of €165 million in the same period of 2019. Travel receipts fell by €127 million or 17.1% to €619 million, while travel payments also decreased, by €148 million or 25.5% to €434 million. The drop in travel receipts stemmed from an 11.4% fall in average expenditure per trip and a 5.6% decrease in inbound traveler flows. Net receipts from travel services offset 3.3% of the goods deficit and accounted for 16.4% of total net receipts from services.

Travel receipts

In March 2020, as mentioned previously, travel receipts declined by 71.0% year-on-year. In more detail, receipts from residents of EU27 countries fell by 67.2% to €43 million, while receipts from outside the EU27 decreased by 74.0% (March 2020: €46 million, March 2019: €176 million). The lower receipts from within the EU27 were due to decreases in receipts from euro area residents by 71.9% to €30 million (March 2019: €106 million) and in receipts from residents of non-euro area EU27 countries by 48.2% to €14 million. Among major countries of origin, receipts from Germany fell by 82.0% to €6 million and receipts from France decreased by 51.1% to €5 million. Turning to non-EU27 countries, receipts from the United Kingdom fell by 82.5% to €5 million, while receipts from the United States decreased by 79.3% to €9 million. Receipts from Russia also decreased, by 62.4% to €2 million.

In January-March 2020, travel receipts totaled €619 million, down by 17.1% relative to the same period of 2019. This development was driven by a 26.9% decline in receipts from residents of EU27 countries, which came to €241 million, and by a 7.8% drop in receipts from residents of non-EU27 countries to €373 million. In particular, receipts from euro area residents decreased by 21.4% to €198 million, and receipts from residents of non-euro area EU27 countries fell by 44.6% to €44 million. Specifically, receipts from Germany dropped by 39.4% to €49 million and receipts from France fell by 47.2% to €14 million. Turning to non-EU27 countries, receipts from the United Kingdom fell by 27.4% to €52 million, while receipts from the United States decreased by 37.7% to €46 million. Receipts from Russia also decreased, by 62.1% to €6 million.

Inbound traveler flows

The number of inbound visitors in March 2020 fell by 46.8% year-on-year to 411 thousand. Specifically, visitor flows through airports declined by 57.9%, while visitor flows through road border-crossing points declined by 27.5%. This overall decrease was due to lower visitor flows from both within the EU27 (down 32.5%) and outside the EU27 (down 59.2%). In greater detail, the number of visitors from within the euro area fell by 58.9% to 85 thousand, whereas visitors from non-euro area EU27 countries increased by 3.8% (March 2020: 157 thousand, March 2019: 151 thousand). Specifically, the number of visitors from Germany decreased by 71.3% to 20 thousand, while visitors from France fell by 51.2% to 14 thousand. Turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 69.4% to 16 thousand, while visitors from the United States dropped by 59.3% to 25 thousand and visitors from Russia decreased by 64.5% to 4 thousand.

In January-March 2020, the number of inbound visitors dropped by 5.6% to 1,828 thousand (January-March 2019: 1,936 thousand). Specifically, visitor flows through airports declined by 8.2%, whereas visitor flows through road border-crossing points increased by 1.2%. In the period under review, the number of visitors from within the EU27 fell by 3.0% year-on-year to 901 thousand and visitors from outside the EU27 decreased by 7.9% to 927 thousand. Visitors from within the euro area decreased by 6.9%, whereas visitors from non-euro area EU27 countries rose by 1.8%. Specifically, the number of visitors from Germany fell by 25.1% to 133 thousand and visitors from France dropped by 38.5% to 34 thousand. Finally, turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 18.6% to 117 thousand, while visitors from the United States dropped by 17.6% to 86 thousand and visitors from Russia decreased by 27.5% to 22 thousand.

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