The balance of travel services posted a surplus of €432.1 million in April 2022 and a surplus of €633.0 million in January-April 2022
Balance of travel services
Based on provisional data, the balance of travel services in April 2022 posted a surplus of €432.1 million, up from a surplus of €3.2 million in April 2021. More specifically, travel receipts in April 2022 rose by 1,000.4% to €647.0 million, from €58.8 million in April 2021, while travel payments also increased by 286.1% (April 2022: €214.8 million, April 2021: €55.6 million). The rise in travel receipts stemmed from an 884.3% increase in inbound traveller flows and a 7.7% rise in average expenditure per trip. Net receipts from travel services offset 14.7% of the goods deficit and contributed 53.0% to total net receipts from services.
In January-April 2022, the balance of travel services showed a surplus of €633.0 million, up from a surplus of €18.4 million in the same period of 2021. Travel receipts rose by €951.7 million or 576.7% to €1,116.7 million, while travel payments increased by €337.1 million or 230.0% to €483.7 million. The rise in travel receipts is attributed to a 462.7% increase in inbound traveller flows, as well as to a rise of 17.1% in average expenditure per trip. Net receipts from travel services offset 5.4% of the goods deficit and contributed 33.3% to total net receipts from services.
Travel receipts
In April 2022, travel receipts rose by 1,000.4% year-on-year. In more detail, receipts from residents of EU27 countries increased by 822.0% to €344.8 million, while receipts from outside the EU27 rose by 1,200.8% (April 2022: €278.3 million, April 2021: €21.4 million). The rise in receipts from within the EU27 is attributed to increases in receipts from euro area residents by 842.6% to €310.4 million (April 2021: €32.9 million) and in receipts from residents of non-euro area EU27 countries by 669.5% to €34.4 million.
More specifically, among major euro area countries of origin, receipts from Germany rose by 951.3% to €111.7 million and receipts from France increased by 1,530.6% to €75.4 million. Turning to non-EU27 countries, receipts from the United Kingdom rose considerably to €80.9 million as well as receipts from the United States to €33.0 million. Receipts from Russia also increased, by 77.4% to €2.0 million.
In January-April 2022, travel receipts totalled €1,116.7 million, up by 576.7% relative to the same period of 2021. This development was due to increases in receipts from residents of the EU27 by 472.1% to €582.2 million and in receipts from residents outside the EU27 by 698.0% to €504.6 million. In greater detail, receipts from euro area residents rose by 514.7% to €495.4 million, while receipts from residents of non-euro area EU27 countries increased by 310.1% to €86.9 million.
In particular, receipts from Germany increased by 533.7% to €177.7 million and receipts from France increased by 1,113.4% to €99.0 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 1,229.8% to €128.0 million, while receipts from the United States increased by 2,098.1% to €67.4 million. Receipts from Russia also increased, by 503.0% to €7.8 million.
Inbound traveller flows
The number of inbound travellers in April 2022 rose by 884.3% year-on-year to 1,056.0 thousand. Specifically, traveller flows through airports increased by 1,494.3% year-on-year as did traveller flows through road border-crossing points, by 427.5%. This overall increase was due to higher traveller flows from both within the EU27 (up by 874.7%) and outside the EU27 (up by 897.4%). In greater detail, the number of travellers from within the euro area rose by 1,012.4% to 471.7 thousand, while travellers from non-euro area EU27 countries increased by 571.9% to 129.7 thousand.
Specifically, the number of travellers from Germany increased by 1,113.0% to 149.9 thousand and travellers from France increased by 2,434.1% to 92.4 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose considerably to 123.3 thousand, as did the number of travellers from the United States to 41.6 thousand; travellers from Russia also increased by 566.8% to 2.9 thousand.
In January-April 2022, the number of inbound travellers rose by 462.7% to 2,128.7 thousand (January-April 2021: 378.3 thousand). Specifically, traveller flows through airports increased by 774.4%, as did traveller flows through road border-crossing points, by 258.1%. In the period under review, the number of travellers from within the EU27 rose by 440.4% year-on-year to 1,193.7 thousand, while travellers from outside the EU27 increased by 493.9% to 935.0 thousand. The number of travellers from within the euro area rose by 558.6% and the number of travellers from non-euro area EU27 countries increased by 253.0%.
Specifically, travellers from Germany increased by 507.9% to 301.3 thousand and travellers from France increased by 1,102.9% to 146.1 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 1,048.0% to 214.9 thousand, while the number of travellers from the United States increased considerably to 79.3 thousand and from Russia by 1,050.7% to 11.6 thousand.
Comparison with 2019, the last year before the pandemic
In April 2022, compared with April 2019, travel receipts rose by 19.0%. Average expenditure per trip also increased, as did inbound tourist flows, by 15.0% and 7.5%, respectively.
In January-April 2022, compared with January-April 2019, travel receipts declined by 13.4%. Average expenditure per trip increased by 20.3% and inbound tourist flows decreased by 27.1%.
Latest News
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'