Based on provisional data by the Bank of Greece, the balance of travel services showed a surplus of €2,610 million in July 2016, down 5.9% from a surplus of €2,775 million in July 2015. More specifically, travel receipts fell by 3.5% to €2,853 million in July 2016, from €2,957 million in the same month of 2015, while travel payments rose by 33.5% (July 2016: €243 million, July 2015: €182 million). The fall in travel receipts resulted from an 8.9% decrease in average expenditure per trip, as arrivals rose by 5.8%. Net receipts from travel services accounted for 86.0% of total net receipts from services and more than offset (204.4%) the goods deficit.
In January-July 2016, the balance of travel services showed a surplus of €5,601 million, down 6.3% from a surplus of €5,980 million in the same period of 2015. This development was driven by both a decrease in travel receipts (down €346 million or 4.8%) and an increase in travel payments (up €33 million or 2.9%). The fall in travel receipts resulted from a 6.3% decline in average expenditure per trip, as arrivals rose by 1.1%. Net receipts from travel services offset 58.6% of the goods deficit and accounted for 73.5% of total net receipts from services.
Travel receipts
In July 2016, as mentioned previously, travel receipts declined by 3.5% year-on-year. Looking at the breakdown by visitor’s country of origin, receipts from residents of the EU28 fell by 4.4% (July 2016: €1,898 million, July 2015: €1,986 million) and those from outside the EU28 by 2.0% (July 2016: €891 million, July 2015: €908 million). The decrease in receipts from within the EU28 resulted mainly from a drop of €86 million or 10.1% in receipts from non-euro area residents, as receipts from euro area residents remained virtually unchanged (July 2016: €1,136 million, July 2015: €1,138 million). Among major countries of origin, receipts from Germany fell by 18.9% to €319 million and those from France dropped by 7.5% to €199 million. Receipts from the United Kingdom also decreased, by 35.6% to €330 million. Turning to non-EU28 countries, receipts from Russia increased by 14.4% to €108 million and those from the United States by 4.9% to €146 million.
In January-July 2016, travel receipts decreased by 4.8% to €6,783 million, relative to the same period of 2015. This development is attributed to lower receipts from both within the EU28 (down 4.2% to €4,445 million) and outside the EU28 (down 7.4% to €2,120 million). In particular, receipts from euro area residents fell by 5.9% to €2,613 million and those from residents of non-euro area EU28 countries by 1.7% to €1,833 million. Specifically, receipts from Germany dropped by 15.4% to €904 million and those from France by 14.8% to €455 million. Receipts from the United Kingdom also decreased, by 14.7% to €979 million. Turning to non-EU28 countries, receipts from Russia rose by 1.5% to €223 million, while receipts from the United States fell by 3.8% to €458 million.
Inbound traveller flows
The number of inbound visitors in July 2016 rose by 5.8% year-on-year to 4,664 thousand. Specifically, arrivals by air rose by 8.1%, while those by road fell by 2.5%. This development reflected a 19.0% increase in arrivals from within the EU28, as arrivals from outside the EU28 fell by 13.9%. In greater detail, arrivals from the euro area rose by 19.4% to 1,626 thousand, while those from the non-euro area EU28 countries increased by 18.5% (July 2016: 1,517 thousand, July 2015: 1,280 thousand). Specifically, arrivals from Germany rose by 9.9% to 451 thousand and those from France by 4.1% to 262 thousand. By contrast, arrivals from the United Kingdom decreased by 7.5% to 451 thousand. Turning to non-EU28 countries, arrivals from Russia increased by 40.0% to 119 thousand and those from the United States by 27.3% to 138 thousand.
In January-July 2016, the number of inbound visitors rose by 1.1% to 12,111 thousand, from 11,974 thousand in the same period of 2015. Specifically, arrivals by air rose by 6.9%, while those by road fell by 10.0%. In the period under review, arrivals from within the EU28 increased by 7.2% year-on-year to 8,085 thousand, whereas those from outside the EU28 fell by 9.2% to 4,026 thousand. Arrivals from the euro area rose by 5.8% and those from the non-euro area EU28 countries by 8.7%. Specifically, arrivals from Germany rose by 3.7% to 1,339 thousand, while those from France fell by 11.9% to 630 thousand. Arrivals from the United Kingdom rose by 5.5% to 1,379 thousand. Finally, turning to non-EU28 countries, arrivals from Russia increased by 19.3% to 281 thousand and those from the United States by 12.2% to 443 thousand.
Related link: Developments in the balance of travel services: July 2016 – Table
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