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GreeceTravel receipts up 38% in Jan-April

Travel receipts up 38% in Jan-April

Hellenic News of America
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The balance of travel services in April showed a surplus of 498.2 million euros, based on provisional data, up from a surplus of 429.2 million in April 2022, the Bank of Greece said on Wednesday.

More specifically, travel receipts in April 2023 rose by 19.9% to 761.1 million, from 634.9 million in April 2022, while travel payments also increased by 27.8% (April 2023: 262.9 million, April 2022: 205.7 million). The rise in travel receipts was due to a 30.0% increase in inbound traveller flows, as average expenditure per trip declined by 8.4%. Net travel receipts offset 21.9% of the goods deficit and contributed 60.1% to total net services receipts.

In the January-April period, the balance of travel services posted a surplus of 731.4 million euros, up from a surplus of 579.3 million in the same period of 2022. Travel receipts rose by 411.7 million, or 38.0%, to 1,494 million, while travel payments increased by 259.5 million, or 51.6%, to 762.6 million. The rise in travel receipts reflected a 52.5% increase in inbound traveller flows, as average expenditure per trip fell by 9.6%. Net travel receipts offset 7.6% of the goods deficit and contributed 40.1% to total net services receipts.

The rise in April receipts from within the EU27 is attributed to increases in receipts from euro area residents by 4.6% (April 2023: 326.3 million, April 2022: 311.8 million) and in receipts from residents of non-euro area EU27 countries by 92.2% to 58.9 million. More specifically, among major euro area countries of origin, receipts from Germany increased by 1.9% to 117.3 million, as did receipts from France, by 0.8% to 69.1 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 8.4% to 82.0 million, while receipts from the United States grew by 89.7% to 71.2 million. Receipts from Russia decreased by 48.6% to 0.8 million.

In the four-month period from January to April, travel receipts totalled 1,494. million, up by 38.0% relative to the same period of 2022. This development was due to increases in receipts from residents of the EU27 by 20.5% to 703.9 million and in receipts from residents outside the EU27 by 59.8% to 748.0 million. In more detail, receipts from euro area residents rose by 16.7% to 593.2 million, while receipts from residents of non-euro area EU27 countries increased by 45.9% to 110.7 million. Specifically, receipts from Germany remained stable at 180.7 million, while receipts from France rose by 36.6% to 127.0 million. Turning to non-EU27 countries, receipts from the United Kingdom grew by 18.0% to 136.9 million.

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Receipts from the United States increased by 93.9% to 138.1 million, while receipts from Russia dropped by 47.0% to 4.0 million.

The number of inbound travellers in April, rose by 30.0% year-on-year to 1,372.6 thousand. In January-April, the number of inbound travellers rose by 52.5% to 3,246.8 thousand (January-April 2022: 2,128.7 thousand).

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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