Travel receipts grew 72% in January, totaling 224.2 million euros from 130.5 million in the corresponding month last year, the Bank of Greece said on Friday.
More specifically, based on provisional data, the balance of travel services in January showed a surplus of 26.3 million euros, down from a surplus of 44.0 million in January 2022. Travel payments also increased by 129.0% (January 2023: 197.9 million, January 2022: 86.4 million). The rise in travel receipts was due to an 86.1% increase in inbound traveller flows, as average expenditure per trip declined by 7.6%. Net travel receipts offset 1.1% of the goods deficit and contributed 9.8% of total net services receipts.
Travel receipts from residents of EU27 countries increased by 23.7% to 95.1 million euros, while receipts from outside the EU27 grew by 141.4% (January 2023: 128.9 million, January 2022: 53.4 million). The rise in receipts from within the EU27 is attributed to a 31.3% increase in receipts from residents of euro area countries (January 2023: 80.7 million, January 2022: 61.5 million), as receipts from non-euro area residents decreased by 6.9% to 14.3 million. More specifically, among major euro area countries of origin, receipts from Germany rose by 13.3% to 22.3 million, as did receipts from France, by 168.4% to 12.1 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 48.3% to 20.2 million, while receipts from the United States increased by 10.4% to 8.1 million. Receipts from Russia decreased by 67.5% to 0.4 million.
The number of inbound travellers rose by 86.1% year-on-year to 635.5 thousand. Specifically, traveller flows through airports increased by 70.1% compared with January 2022, while traveller flows through road border-crossing points rose by 144.1%.