+ 12.8% arrivals and + 28.2% travel receipts in Greece in March 2018

Based on provisional data by the Bank of Greece, the balance of travel services in March 2018 showed a surplus of €79 million, compared with a surplus of €53 million in March 2017. More specifically, travel receipts in March 2018 rose by 28.2% to €252 million from €197 million in March 2017, but this increase was partly offset by a 20.7% rise in travel payments (March 2018: €173 million, March 2017: €143 million). The increase in travel receipts is attributed to a 12.8% increase in inbound traveller flows, as well as to a rise of 14.9% or €45 in average expenditure per trip. Net receipts from travel services offset 5.3% of the goods deficit and accounted for 26.4% of total net receipts from services. 

In January-March 2018, the balance of travel services showed a surplus of €86 million, unchanged from the same period of 2017. This development was due to the fact that both travel receipts and payments increased by €68 million (or by 13.9% and 16.9%, respectively). The rise in travel receipts was driven mainly by a 12.8% increase in inbound traveller flows, as well as by a rise of 1.3% or €4 in average expenditure per trip. Net receipts from travel services offset 1.8% of the goods deficit and accounted for 10.2% of total net receipts from services. 

Travel receipts in Greece

In March 2018, as mentioned previously, travel receipts rose by 28.2% year-on-year. In more detail, receipts from residents of the EU28 increased by 47.3% to €152 million, whereas receipts from outside the EU28 rose by 8.6% (March 2018: €94 million, March 2017: €87 million). The higher receipts from within the EU28 were due to increases in receipts from residents of non-euro area EU28 countries by 30.8% to €48 million (March 2017: €37 million) and in receipts from euro area residents by 56.4% to €104 million. Breaking down receipts by visitor’s country of origin, receipts from Germany rose by 92.1% to €37 million, as did receipts from France, by 40.2% to €9 million. Receipts from the United Kingdom also increased, by 73.0% to €21 million. Turning to non-EU28 countries, receipts from Russia dropped by 58.2% to €2 million, while receipts from the United States also decreased, by 27.5% to €18 million.

In January-March 2018, travel receipts increased by 13.9% year-on-year to €557 million. This development is attributed to increases in receipts from within the EU28 by 18.9% to €318 million and in receipts from outside the EU28 by 8.4% to €232 million. In particular, receipts from euro area residents increased by 13.2% to €204 million, as did receipts from residents of non-euro area EU28 countries, by 30.8% to €114 million. Specifically, receipts from France rose by 8.9% to €16 million, while receipts from Germany also increased, by 25.7% to €72 million. Receipts from the United Kingdom also increased, by 24.8% to €42 million. Turning to non-EU28 countries, receipts from Russia dropped by 35.3% to €9 million, while receipts from the United States also decreased, by 35.3% to €34 million. 

Inbound traveller flows to Greece

In March 2018, the number of inbound visitors rose by 12.8% year-on-year to 708 thousand. Specifically, visitor flows through airports increased by 21.9%, as did visitor flows through road border-crossing points, by 3.4%. This development is attributed to higher visitor flows from both within the EU28 (up 11.6%) and outside the EU28 (up 14.8%). In greater detail, the number of visitors from within the euro area rose by 35.5% to 227 thousand, whereas visitors from the non-euro area EU28 countries declined by 7.1% (March 2018: 199 thousand, March 2017: 214 thousand). Specifically, the number of visitors from Germany rose by 55.6% to 88 thousand, while visitors from France also increased, by 73.9% to 20 thousand. Visitors from the United Kingdom rose by 98.2% to 42 thousand. Turning to non-EU28 countries, the number of visitors from Russia fell by 43.9% to 5 thousand, as did the number of visitors from the United States, by 9.1% to 36 thousand. 

In January-March 2018, the number of inbound visitors rose by 12.8% year-on-year to 1,796 thousand (January-March 2017: 1,592 thousand). Specifically, visitor flows through airports increased by 8.9%, as did visitor flows through road border-crossing points, by 18.6%. In the period under review, the number of visitors from within the EU28 rose by 12.0% year-on-year to 1,071 thousand, as did the number of visitors from outside the EU28, by 13.9% to 725 thousand. Visitors from within the euro area rose by 15.8%, while visitors from the non-euro area EU28 countries also increased, by 8.7%. Specifically, the number of visitors from France rose by 35.6% to 39 thousand, as did the number of visitors from Germany, by 26.9% to 196 thousand. Visitors from the United Kingdom increased by 11.0% to 101 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia dropped by 36.6% to 16 thousand, while the number of visitors from the United States also fell, by 13.0% to 71 thousand. 

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