Average spending per trip to Greece -9% in January-August 2016

Based on provisional data by the Bank of Greece, the balance of travel services showed a surplus of €2,923 million in August 2016, down 10.6% from a surplus of €3,271 million in August 2015. More specifically, travel receipts in August 2016 fell to €3,159 million (down 9.2% from €3,478 in August 2015), whereas travel payments increased by 14.0% (August 2016: €236 million, August 2015: €207 million). The fall in travel receipts resulted from an 11.6% decrease in average expenditure per trip, as arrivals rose by 1.8%. Net receipts from travel services accounted for 87.8% of total net receipts from services and more than offset (249.0%) the goods deficit. 

In January-August 2016, the balance of travel services showed a surplus of €8,434 million, down 8.8% from a surplus of €9,251 million in the same period of 2015. This development was driven by both a decrease in travel receipts (down €753 million or 7.1%) and an increase in travel payments (up €64 million or 4.7%). The fall in travel receipts resulted from a 9.0% decline in average expenditure per trip, as arrivals rose by 1.3%. Net receipts from travel services offset 78.6% of the goods deficit and accounted for 77.7% of total net receipts from services. 

Travel receipts 

In August 2016, as mentioned previously, travel receipts declined by 9.2% year-on-year. Looking at the breakdown by visitor’s country of origin, receipts from residents of the EU28 fell by 2.2% (August 2016: €2,401 million, August 2015: €2,456 million) and those from outside the EU28 by 31.1% (August 2016: €628 million, August 2015: €911 million). The decrease in receipts from within the EU28 was mainly due to a drop of €128 million or 7.5% in receipts from euro area residents, as receipts from residents of non-euro area EU28 countries rose by 9.7% (August 2016: €829 million, August 2015: €756 million). Among major countries of origin, receipts from Germany rose by 4.3% to €526 million and those from France fell by 31.9% to €271 million. Receipts from the United Kingdom increased slightly by 0.5% to €454 million. Turning to non-EU28 countries, receipts from Russia dropped by 4.3% to €95 million and those from the United States fell by 49.6% to €102 million.

Travel receipts in January-August 2016 totalled €9,853 million, falling by 7.1%, relative to the same period of 2015. This development is attributed to lower receipts from both within the EU28 (down 4.4% to €6,786 million) and outside the EU28 (down 15.4% to €2,709 million). In particular, receipts from euro area residents fell by 6.4% to €4,191 million and those from residents of non-euro area EU28 countries by 1.0% to €2,595 million. Specifically, receipts from Germany dropped by 8.4% to €1,442 million and those from France by 24.3% to €706 million. Receipts from the United Kingdom also decreased, by 13.2% to €1,386 million. Turning to non-EU28 countries, receipts from Russia fell by 2.1% to €313 million and those from the United States by 24.0% to €516 million. 

Inbound traveller flows 

The number of inbound visitors stood at 5,084 thousand in August 2016, having increased by 1.8% year-on-year. Specifically, arrivals by air increased by 4.4%, while those by road fell by 8.0%. This development reflected a 20.8% increase in arrivals from within the EU28, as arrivals from outside the EU28 fell by 29.6%. In greater detail, arrivals from the euro area rose by 13.5% to 2,182 thousand, while those from the non-euro area EU28 countries increased by 32.4% (August 2016: 1,579 thousand, August 2015: 1,193 thousand). Specifically, arrivals from Germany rose by 27.3% to 684 thousand, while those from France fell by 9.8% to 348 thousand. Arrivals from the United Kingdom increased by 13.9% to 550 thousand. Turning to non-EU28 countries, arrivals from Russia fell by 1.5% to 114 thousand and those from the United States by 15.9% to 108 thousand. 

The number of inbound visitors in January-August 2016 increased by 1.3% to 17,195 thousand, from 16,968 thousand a year earlier. Specifically, arrivals by air increased by 6.1%, while those by road fell by 9.5%. In the period under review, arrivals from within the EU28 increased by 11.2% year-on-year to 11,845 thousand, whereas those from outside the EU28 fell by 15.3% to 5,349 thousand. Arrivals from the euro area rose by 8.4% and those from the non-euro area EU28 countries by 14.4%. Specifically, arrivals from Germany rose by 10.6% to 2,023 thousand, while those from France fell by 11.2% to 978 thousand. Arrivals from the United Kingdom increased by 7.7% to 1,929 thousand. Finally, turning to non-EU28 countries, arrivals from Russia increased by 12.4% to 395 thousand and those from the United States by 5.3% to 551 thousand. 

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