x

Economy

Travel Receipts Up 92.1% in January-August

ATHENS – The balance of travel services in August 2022 showed a surplus of 3,828.3 million euros, up from a surplus of 3,018.6 million euros in August 2021, according to provisional data released by the Bank of Greece on Monday.

More specifically, travel receipts in August 2022 rose by 28.1% to 4,042.9 million, from 3,156.2 million in August 2021, while travel payments also increased by 56.0% (August 2022: 214.6 million, August 2021: 137.6 million). The rise in travel receipts was due to a 44.0% increase in inbound traveller flows, as average expenditure per trip declined by 11.2%. Net receipts from travel services accounted for 91.0% of total net receipts from services and more than offset (127.3%) the goods deficit.

In the January-August period,, the balance of travel services showed a surplus of 11,458.7 million, up from a surplus of 6,046.1 million, in the same period of 2021. Travel receipts rose by 6,110.9 million, or 92.1%, to 12,749.0 million, while travel payments increased by 698.2 million, or 117.9%, to 1,290.3 million. The rise in travel receipts stemmed from a 121.8% increase in inbound traveller flows, as average expenditure per trip fell by 14.1%. Net travel receipts offset 46.9% of the goods deficit and contributed 80.6% to total net receipts from services.

Per country

In August 2022, travel receipts rose by 28.1% year-on-year. In more detail, receipts from residents of EU27 countries increased by 14.0% to 2,457.0 million, while receipts from outside the EU27 rose by 58.9% (August 2022: 1,523.8 million, August 2021 959.1 million). More specifically, among major euro area countries of origin, receipts from Germany rose by 5.6% to 644.6 million, whereas receipts from France decreased by 2.3% to 369.3 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 59.5% to 800.3 million and receipts from the United States increased by 17.2% to 154.8 million. Receipts from Russia decreased by 83.4% to 3.5 million.

In the eight-month period from January to August, travel receipts totalled 12,749.0 million, up by 92.1% relative to the same period of 2021. This development was due to increases in receipts from residents of the EU27 by 64.8% to 7,446.0 million and in receipts from residents outside the EU27 by 147.7% to 5,055.1 million. In greater detail, receipts from euro area residents rose by 63.3% to 5,874.3 million, while receipts from residents of non-euro area EU27 countries increased by 70.6% to 1,571.7 million.

Airport flows

The number of inbound travellers in August rose by 44.0% year-on-year to 5,865.8 thousand. Specifically, traveller flows through airports increased by 32.2% compared with August 2021, as did traveller flows through road border-crossing points, by 95.6%.

In the January-August period, the number of inbound travellers rose by 121.8% to 19,126.4 thousand (January-August 2021: 8,624.1 thousand).

Compared with August 2019, travel receipts fell by 1.5%, average expenditure per trip increased by 14.0% and inbound traveller flows decreased by 13.3% in August 2022.

Compared with January-August 2019, travel receipts fell by 3.6%, inbound traveller flows dropped by 12.4%, while average expenditure per trip increased by 10.6% in January‑August 2022.

RELATED

SolidarityNow, tasked with the mission to support the most vulnerable members of our society without discrimination and with faith in the value and power of solidarity, celebrated on Monday 23-January, it’s 10-year continuous contribution to the Greek society, according to organization's  press release.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.