According to provisional data, available to the Bank of Greece, the balance of travel services in June 2022 showed a surplus of €2,416.1 million, compared with a surplus of €705.5 million in June 2021. More specifically, travel receipts in June 2022 rose by 224.5% to €2,617.6 million, from €806.7 million in June 2021, while travel payments also increased by 99.1% (June 2022: €201.5 million, June 2021: €101.2 million). The rise in travel receipts was due to a 241.5% increase in inbound traveler flows, as average expenditure per trip declined by 5.7%. Net travel receipts offset 81.9% of the goods deficit and contributed 88.0% to total net receipts from services.
In January-June 2022, the balance of travel services showed a surplus of €4,191.9 million, up from a surplus of €868.6 million in the corresponding period of 2021. Travel receipts rose by €3,932.3 million or 329.3% to €5,126.3 million, while travel payments increased by €609.0 million or 187.2% to €934.4 million. The rise in travel receipts was due to a 360.8% increase in inbound traveller flows, as average expenditure per trip declined by 7.9%. Net travel receipts offset 23.4% of the goods deficit and contributed 67.6% to total net receipts from services.
Travel receipts
In June 2022, as mentioned previously, travel receipts rose by 224.5% year-on-year. In more detail, receipts from residents of EU27 countries increased by 179.5% to €1,566.4 million, while receipts from outside the EU27 rose by 321.8% (June 2022: €1,001.7 million, June 2021: 237.5 million). The rise in receipts from within the EU27 is attributed to increases of 184.9% in receipts from euro area residents (June 2022: €1,239.7 million, June 2021: €435.2 million) and of 160.8% in receipts from residents of non-euro area EU27 countries to €326.7 million.
More specifically, among major euro area countries of origin, receipts from Germany rose by 169.0% to €577.8 million and receipts from France increased by 116.2% to €157.4 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 633.2% to €427.4 million and receipts from the United States increased by 219.3% to €157.1 million. Receipts from Russia also increased, by 38.1% to €6.0 million.
In January-June 2022, travel receipts totaled €5,126.3 million, up by 329.3% relative to the same period of 2021. This development was due to increases in receipts from residents of the EU27 by 263.7% to €2,980.9 million and in receipts from residents outside the EU27 by 462.4% to €2,029.0 million. In greater detail, receipts from euro area residents rose by 281.3% to €2,476.7 million, while receipts from residents of non-euro area EU27 countries increased by 196.3% to €504.2 million.
In particular, receipts from Germany increased by 264.6% to €1,086.1 million and receipts from France increased by 247.9% to €378.8 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 873.6% to €792.7 million, while receipts from the United States increased by 450.1% to €336.7 million. Receipts from Russia also increased, by 115.7% to €13.9 million.
Inbound traveler flows
The number of inbound travelers in June 2022 rose by 241.5% year-on-year to 3,649.4 thousand. Specifically, traveler flows through airports increased by 262.1% compared with June 2021, as did traveler flows through road border-crossing points, by 187.0%. This overall increase was due to higher traveler flows from both within the EU27 (up by 199.7%) and outside the EU27 (up by 342.4%). In greater detail, the number of travelers from within the euro area rose by 211.2% to 1,596.0 thousand, while travelers from non-euro area EU27 countries increased by 175.3% to 668.9 thousand.
Specifically, the number of travelers from Germany increased by 188.7% to 684.1 thousand and travelers from France increased by 166.7% to 225.4 thousand. Turning to non-EU27 countries, the number of travelers from the United Kingdom rose by 891.7% to 592.4 thousand, while the number of travelers from the United States increased by 391.8% to 150.7 thousand. The number of travelers from Russia also increased, by 58.9% to 4.4 thousand.
In January-June 2022, the number of inbound travelers rose by 360.8% to 7,983.3 thousand (January-June 2021: 1,732.5 thousand). Specifically, traveler flows through airports increased by 428.9%, as did traveler flows through road border-crossing points, by 247.9%. In the period under review, the number of travelers from within the EU27 rose by 305.2% year-on-year to 4,792.6 thousand, while travelers from outside the EU27 increased by 480.3% to 3,190.8 thousand. The number of travelers from within the euro area rose by 345.3% and the number of travelers from non-euro area EU27 countries increased by 221.6%.
Specifically, travelers from Germany increased by 316.4% to 1,422.5 thousand and travelers from France increased by 315.4% to 530.4 thousand. Turning to non-EU27 countries, the number of travelers from the United Kingdom rose by 1,251.9% to 1,218.1 thousand, while the number of travelers from the United States also increased by 745.9% to 324.8 thousand and from Russia by 318.4% to 16.0 thousand.
Comparison with 2019, the last year before the pandemic
In June 2022, compared with June 2019, travel receipts rose by 2.3%, average expenditure per trip increased by 15.9%, while inbound traveller flows decreased by 11.0%.
In January-June 2022, compared with January-June 2019, travel receipts fell by 5.3%, inbound traveler flows dropped by 15.1%, while average expenditure per trip increased by 12.6%.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.
