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GreeceTravel receipts up 68.5% in Jan-Nov 2022

Travel receipts up 68.5% in Jan-Nov 2022

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The balance of travel services in November 2022 showed a surplus of 180.0 million euros, up from a surplus of 154.8 million in November 2021, the Bank of Greece in a report on Monday.

More specifically, in November 2022 travel receipts rose by 15.9% to 314.0 million, up from 271.0 million in November 2021, while travel payments also increased by 15.4% (November 2022: 134.0 million, November 2021: 116.2 million). The rise in travel receipts was due to a 44.7% increase in inbound traveller flows, as average expenditure per trip declined by 21.8%. Net travel receipts offset 4.7% of the goods deficit and contributed 55.4% in total net services receipts.

In the January-November 2022 period, the balance of travel services showed a surplus of 15,624.7 million, up from a surplus of 9,316.7 million in the corresponding period of 2021. Travel receipts rose by 7,067.6 million, or 68.5%, to 17,384.2 million, while travel payments also increased by 759.6 million, or 76.0%, to 1,759.5 million.

The rise in travel receipts stemmed from a 90.3% increase in inbound traveller flows, as average expenditure per trip declined by 12.0%. Net travel receipts offset 43.4% of the goods deficit and contributed 82.0% in total net services receipts.

In November, travel receipts rose by 15.9% year-on-year. In more detail, receipts from residents of EU27 countries increased by 13.3% to 127.4 million, while receipts from outside the EU27 rose by 13.0%.

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In the January-November period, travel receipts totalled 17,384.2 million, up by 68.5% relative to the same period of 2021. This development was due to increases in receipts from residents of the EU27 by 47.4% to 9,889.6 million and in receipts from residents outside the EU27 by 106.5% to 7,093.1 million. In greater detail, receipts from euro area residents rose by 45.4% to 7,945.9 million, while receipts from residents of non-euro area EU27 countries increased by 56.0% to 1,943.6 million.

Specifically, receipts from Germany rose by 41.2% to 3,233.3 million, as did receipts from France, by 28.5% to 1,261.1 million. Turning to non-EU27 countries, receipts from the United Kingdom increased by 115.9% to 3,101.4 million. Receipts from the United States also increased by 96.6% to 1,155.0 million, while receipts from Russia declined by 62.7% to 40.5 million.

Compared with November 2019, travel receipts fell by 0.4%, average expenditure per trip increased by 15.6%, while inbound traveller flows dropped by 12.6% in November 2022.
Compared with January-November 2019, travel receipts fell by 2.8%, as did inbound traveller flows by 11.1%, in January-November 2022, although average expenditure per trip increased by 9.8%.

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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