Evolution of the travel services balance: January 2022

24/03/2022 – Press releases

– The balance of travel services generated a surplus of €60.8 million in January 2022.

Travel receipts increased by 309.8% in January 2022.

Flow of incoming travelers increased by 256.7% in January 2022.

Travel services balance

Based on provisional data, the balance of travel services in January 2022 posted a surplus of €60.8 million, compared to a surplus of €1.7 million in January 2021. Specifically, travel receipts increased by 309.8% to €140.1 million euros in January 2022, compared to €34.2 million in January 2021, while travel payments also increased by 143.8% (January 2022: €79.3 million, January 2021: €32.5 million) . The increase in travel revenue is due to a 256.7% increase in inbound traveler flows as well as a 14.5% increase in average spend per trip. Net receipts from travel services offset 2.0% of the goods deficit and contributed 15.8% to total net receipts from services.

Travel receipts

In January 2022, as mentioned earlier, travel revenue grew 309.8% year-on-year. Specifically, receipts from residents of EU27 countries increased by 270.6% to €80.1 million, while receipts from outside the EU27 increased by €373.5 % (January 2022: €59.4 million, January 2021: €12.6 million). The increase in receipts from within the EU27 is due to the increase in receipts from euro area residents by 295.1% to €62.6 million (January 2021: €15.8 million). euros) and receipts from residents of non-euro area EU27 countries by 203.3% to 62.6 million euros. 17.5 million. Specifically, among the top eurozone source countries, receipts from Germany increased by 227.7% to €21.4 million and receipts from France increased by 486.9 % to 5.4 million euros. In non-EU27 countries, UK receipts increased by 524.8% to €16.4 million and US receipts increased by 3,768.9% to €7.0 million euros. Receipts from Russia also increased by 1,085.7% to 0.9% M€.

Flow of incoming travelers

The number of inbound travelers in January 2022 increased by 256.7% year-on-year to reach 341.4 thousand. Specifically, passenger flows through airports increased by 352.3% compared to January 2021 and passenger flows through road border crossing points increased by 182.9%. This overall increase is due to an increase in flows of travelers from both the EU27 (up 219.6%) and outside the EU27 (up 324.4%). Specifically, the number of travelers from within the euro area increased by 270.2% to 148,900, while travelers from non-euro area EU27 countries increased by 125.2% to 48,600. In particular, the number of travelers from Germany increased by 183.5% to 54,200 and travelers from France increased by 424.8% to 15,800. With regard to non-EU27 countries, the number of travelers from the United Kingdom increased by 483.9% to 33,400, while the number of travelers from the United States increased by 1,379.6% to 10,800 and from Russia 579.3% to 2,200.

To note:

Inbound passenger flows exclude cruise passengers other than those recorded in the border survey.

Related information:

The next press release “Evolution of the balance of travel services” for February 2022 will be published on April 21, 2022, in accordance with the Early Release Schedule published on the Bank of Greece website.

Related link:

Detailed and definitive data on the balance of travel services are published in the travel services section of the Bank of Greece website.