Based on provisional data by the Bank of Greece, the balance of travel services in July 2020 showed an estimated surplus of €516 million, compared with a surplus of €3,472 million in July 2019. More specifically, travel receipts in July 2020 fell by 84.4% to €577 million, from €3,703 million in July 2019, while travel payments also decreased by 73.7% (July 2020: €61 million, July 2019: €230 million). The fall in travel receipts resulted from an 85.4% decline in inbound traveler flows, as average expenditure per trip rose by 8.8%. Net receipts from travel services offset 32.4% of the goods deficit and accounted for 64.7% of total net receipts from services.
In January-July 2020, the balance of travel services showed a surplus of €759 million, down from a surplus of €7,549 million in the same period of 2019. Travel receipts fell by €7,862 million or 86.2% to €1,255 million, while travel payments also decreased, by €1,071 million or 68.3% to €496 million. The drop in travel receipts stemmed from a 29.2% fall in average expenditure per trip and an 80.1% decrease in inbound traveler flows. Net receipts from travel services offset 6.9% of the goods deficit and accounted for 25.7% of total net receipts from services.
Travel receipts
In July 2020, as mentioned previously, travel receipts declined by 84.4% year-on-year. In more detail, receipts from residents of EU27 countries fell by 76.6% to €467 million, while receipts from outside the EU27 decreased by 93.3% (July 2020: €110 million, July 2019: €1,641 million). The lower receipts from within the EU27 were due to decreases in receipts from euro area residents by 77.4% to €346 million (July 2019: €1,528 million) and in receipts from residents of non-euro area EU27 countries by 74.0% to €121 million. Among major countries of origin, receipts from Germany fell by 71.8% to €154 million and receipts from France decreased by 78.8% to €45 million. Turning to non-EU27 countries, receipts from the United Kingdom fell by 90.6% to €51 million, while receipts from the United States decreased by 98.7% to €3 million. Receipts from Russia also decreased, by 99.6% to €0.4 million.
In January-July 2020, travel receipts totaled €1,255 million, down by 86.2% relative to the same period of 2019. This development was driven by an 84.6% decline in receipts from residents of EU27 countries, which came to €737 million, and by an 87.4% drop in receipts from residents of non-EU27 countries to €515 million. In particular, receipts from euro area residents decreased by 85.6% to €556 million, while receipts from residents of non-euro area EU27 countries fell by 80.9% to €181 million. Specifically, receipts from Germany dropped by 85.4% to €212 million and receipts from France fell by 89.1% to €61 million. Turning to non-EU27 countries, receipts from the United Kingdom dropped by 92.1% to €103 million and receipts from the United States decreased by 89.7% to €63 million. Receipts from Russia also decreased, by 94.7% to €11 million.
Inbound traveler flows
The number of inbound visitors in July 2020 fell by 85.4% year-on-year to 828 thousand. Specifically, visitor flows through airports declined by 83.2% and visitor flows through road border-crossing points fell by 89.9%. This overall decrease was due to lower visitor flows from both within the EU27 (down 80.4%) and outside the EU27 (down 92.7%). In greater detail, the number of visitors from within the euro area fell by 78.6% to 416 thousand, while visitors from non-euro area EU27 countries fell by 82.9% (July 2020: 246 thousand, July 2019: 1,434 thousand). Specifically, the number of visitors from Germany decreased by 72.0% to 165 thousand, while visitors from France also fell by 81.5% to 53 thousand. Turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 90.4% to 62 thousand, while visitors from the United States dropped by 98.7% to 2 thousand and visitors from Russia decreased by 99.6% to 0.4 thousand.
In January-July 2020, the number of inbound visitors fell by 80.1% to 3,006 thousand (January-July 2019: 15,080 thousand). Specifically, visitor flows through airports declined by 84.1% and visitor flows through road border-crossing points fell by 70.6%. In the period under review, visitors from within the EU27 dropped by 79.3% year-on-year to 1,793 thousand, while visitors from outside the EU27 decreased by 81.1% to 1,213 thousand. The number of visitors from within the euro area fell by 83.1%, while visitors from non-euro area EU27 countries dropped by 72.8%. Specifically, the number of visitors from Germany fell by 83.9% to 313 thousand, while visitors from France decreased by 89.2% to 88 thousand. Turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 89.8% to 179 thousand, while visitors from the United States dropped by 85.2% to 88 thousand and visitors from Russia decreased by 91.5% to 22 thousand.
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