The balance of travel services posted a surplus of 71.4 million euros in December 2022 and of 15.696 billion euros in the year 2022, the Bank of Greece said on Tuesday.
During the last year before the pandemic, the balance of travel services had posted a surplus of 28.6 million euros in December 2019 and of 15,435.0 million in the year 2019. Travel receipts rose year-on-year by 32.8% in December 2022 and by 67.9% in the year 2022.
Compared with the respective periods of 2019, travel receipts were lower by 16.1% in December 2022 and by 3.0% in the year 2022.
Inbound traveller flows rose year-on-year by 52.5% in December 2022 and by 89.3% in the year 2022.
Compared with the respective periods of 2019, inbound traveller flows were lower by 16.2% in December 2022 and by 11.2% in the year 2022.
Based on provisional data, the balance of travel services in December 2022 showed a surplus of 71.4 million euros, down from a surplus of 73.4 million in December 2021. In 2022, the balance of travel services showed a surplus of 15,696.1 million, up from a surplus of 9,390.2 million in 2021. Travel receipts rose by 7,128.6 million, or 67.9%, to 17,631.3 million, while travel payments also increased by 822.6 million, or 73.9%, to 1,935.1 million.
The rise in travel receipts stemmed from an 89.3% increase in inbound traveller flows, as average expenditure per trip declined by 11.9%. Net travel receipts offset 40.2% of the goods deficit and contributed 80.9% of total net services receipts.
In December, as mentioned previously, travel receipts rose by 32.8% year-on-year. In more detail, receipts from residents of EU27 countries decreased by 0.6% to 88.2 million euros, while receipts from outside the EU27 increased by 59.9%. More specifically, among major euro-area countries of origin, receipts from Germany declined by 16.4% to 21.8 million euros, as did receipts from France, which dropped by 30.6% to 6.9 million euros.
Turning to non-EU27 countries, receipts from the United Kingdom dropped by 24.6% to 22.1 million euros, while receipts from the United States rose by 368.6% to 40.7 million euros. Receipts from Russia decreased by 85.8% to 0.8 million euros.
In 2022, travel receipts totalled 17,631.3 million, up by 67.9% relative to the previous year. This development was due to increases in receipts from residents of the EU27 by 46.8% to 9,977.7 million and in receipts from residents outside the EU27 by 105.2% to 7,245.9 million. In greater detail, receipts from euro area residents rose by 44.9% to 8,019.6 million, as did receipts from residents of non-euro area EU27 countries, which increased by 55.2% to 1,958.1 million.
The number of inbound travellers in December rose by 52.5% year-on-year to 580.1 thousand. In 2022, the number of inbound visitors rose by 89.3% to 27,835.5 thousand (2021: 14,704.9 thousand).