Bank of Greece: Travel receipts soar by 68.5% during January - November 2022

Α Decrease font Enlarge font
Bank of Greece: Travel receipts soar by 68.5% during January - November 2022Travel receipts rose year-on-year by 15.9% in November 2022 and by 68.5% in January‑November 2022

Based on provisional data by the Bank of Greece, the balance of travel services in November 2022 showed a surplus of €180.0 million, up from a surplus of €154.8 million in November 2021. 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 January-November 2022, 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% to total net services receipts.

Travel receipts

In November 2022, as previously mentioned, 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% (November 2022: €162.2 million, November 2021: €143.5 million). The rise in receipts from within the EU27 is attributed to an increase of 167.5% in receipts from residents of non-euro area EU27 countries, which stood at €33.3 million, as receipts from euro area residents dropped by 5.9% (November 2022: €94.1 million, November 2021: €100,0 million).

More specifically, among major euro area countries of origin, receipts from Germany declined by 23.7% to €22.0 million, whereas receipts from France increased by 7.1% to €9.1 million. Turning to non-EU27 countries, receipts from the United Kingdom dropped by 32.0% to €21.6 million, while receipts from the United States rose by 87.5% to €38.1 million. Receipts from Russia decreased by 95.4% to €0.4 million.

In January-November 2022, 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.

Inbound traveller flows

The number of inbound travellers in November 2022 rose by 44.7% year-on-year to 812.4 thousand. Specifically, traveller flows through airports increased by 21.1% compared with November 2021, while traveller flows through road border-crossing points rose by 133.7%. This overall increase was due to higher traveller flows from both within the EU27 (up by 46.5%) and outside the EU27 (up by 42.8%). In greater detail, travellers from within the euro area rose by 8.6% to 247.6 thousand, while travellers from non-euro area EU27 countries also increased by 184.1% to 178.9 thousand.

Specifically, the number of travellers from Germany declined by 11.2% to 66.9 thousand, whereas the number of travellers from France rose by 58.1% to 28.9 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom decreased by 28.7% to 45.5 thousand, while the number of travellers from the United States increased by 300.5% to 67.5 thousand. The number of travellers from Russia fell by 95.8% to 0.7 thousand.

In January-November 2022, the number of inbound travellers rose by 90.3% to 27,255.4 thousand (January-November 2021: 14,324.4 thousand). Specifically, traveller flows through airports increased by 82.4%, while traveller flows through road border-crossing points rose by 135.7%. In the period under review, the number of travellers from within the EU27 rose by 68.3% year-on-year to 16,764.2 thousand, while travellers from outside the EU27 increased by 140.6% to 10,491.2 thousand. The number of travellers from within the euro area rose by 57.7%, as did travellers from non-euro area EU27 countries, by 96.2%.

Specifically, travellers from Germany increased by 45.6% to 4.307,7 thousand and those from France by 50.1% to 1,739.8 thousand. Turning to non-EU‑27 countries, the number of travellers from the United Kingdom rose by 185.2% to 4,416.3 thousand, as well as those from the United States by 173.3% to 1,043.2 thousand. The number of travellers from Russia dropped by 68.3% to 35.3 thousand.

Comparison with 2019, the last year before the pandemic

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%.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: pixabay.com

Tornos
  1. 19/03 14:10

    UNWTO launches new Women in Tech startup competition across the Middle East

  2. 19/03 14:07

    Greek president attends memorial march for Thessaloniki Jews killed in Holocaust

  3. 19/03 09:14

    Greek Minister: Relaunching railway services key to restoring public's confidence

  4. 18/03 14:07

    FM launches official campaign of Greek candidacy for UN Security Council

  5. 18/03 13:37

    Piraeus Port shows 51.7% profit hike during 2022

  6. 18/03 13:28

    Greek Tourism Minister forecasts that 2023 will be a very strong year for sector

  7. 18/03 09:02

    Greek Minister meets visiting Israeli minister of science and technology in Athens

  8. 17/03 16:09

    Study: Mediterranean diet reduces risk of dementia

  9. 17/03 15:04

    China and Greece join forces to create mutual learning model between cultures

  10. 17/03 12:14

    Τhe new minimum wage set by Greek government at 780 euros as of April 1

  11. 16/03 21:37

    Walk against discrimination 2023 to take place at Syntagma Square on March 21

  12. 16/03 19:30

    Central Athens road traffic restored after rallies and transport strikes

  13. 16/03 19:12

    Athens Half-Marathon to affect traffic in and around downtown Athens on Sunday

  14. 16/03 14:17

    Greek state budget recorded primary surplus of 4.201 billion euros in Jan-Feb

  15. 16/03 14:12

    FinMin: Greek banks able to absorb any turbulence from global markets

  16. 16/03 14:03

    IATA and Afroport Mauritanie ink agreement on ground handling safety

  17. 16/03 13:07

    Heavy rain and storms in Greece from Thursday to Saturday

  18. 15/03 13:59

    Mandarin Oriental Costa Navarino opens this summer in Peloponnese of Greece

  19. 14/03 23:09

    Greek mining enterprises planning to invest 300-400 million euros in 2023

  20. 14/03 20:41

    Public transportation in Athens halted partially by 24-hour strike on Thursday

  21. 14/03 20:19

    Greek trains to restart operation gradually after March 22

  22. 14/03 19:15

    Nominations open for 2023 IATA Diversity and Inclusion Awards in aviation

  23. 14/03 19:02

    Health Minister: Greece lifting Covid measures with some exceptions

  24. 14/03 18:52

    UNWTO Best Tourism Villages ceremony focused on tourism for rural development

  25. 14/03 17:33

    Aegean Airlines and Olympic Air cancel all flights in Greece on Thursday

  26. 14/03 13:06

    7th Posidonia Sea Tourism Forum in Thessaloniki on April 25-26

  27. 14/03 12:11

    Hellenic Train: Buses to transport passengers for free on certain routes from March 15

  28. 14/03 12:00

    Thessaloniki Urban Transport employees annunce 24-hour strike on March 16

  29. 14/03 00:10

    Hellenic College - Holy Cross full accreditation reaffirmed by NECHE

  30. 13/03 23:23

    75th Anniversary of Dodecanese unification marked on March 12 in Astoria

  31. 13/03 22:33

    Greek Transport Minister and railway unions meet on safe restart of train services

  32. 13/03 19:18

    UK’s Prime Minister rules out return of Parthenon Marbles to Greece

  33. 13/03 16:49

    Hellenic Republic President: Cyprus top national priority of Greek foreign policy

  34. 12/03 14:23

    British Museum head on solving 200-year-old dispute with Elgin Marbles

  35. 12/03 14:20

    Greek unions call 24-hour national strike on Thursday over Tempi train crash

  36. 12/03 14:05

    Summer tourism season kicks off in Greek island of Rhodes earlier than ever

  37. 12/03 13:11

    Athens metro stations closed as protest rally is held over Tempi train collision

  38. 11/03 21:05

    UNWTO at ITB Berlin: Setting priorities for tourism sector

  39. 11/03 19:05

    UNWTO marks Best Tourism Villages ceremony in AlUla of Saudi Arabia

  40. 11/03 17:15

    Huawei VP CEE & Nordic Europe Region: Greece is a valuable market

  41. 11/03 13:27

    UNWTO report on methodologies and tools to measure greenhouse gas emissions

  42. 11/03 12:58

    GWTO head: Greece among most promising emerging wine tourism destinations

  43. 11/03 10:13

    New Cyprus President to visit the Greek capital Athens on March 12-14

  44. 11/03 09:48

    Hellenic Statistical Authority: Greek trade deficit fell 21.9% in January

  45. 10/03 20:20

    Tourism's potential centered at LDCV, UN conference on least developed countries

  46. 10/03 19:24

    Panhellenic Exporters Association: High Greek exports growth to continue

  47. 10/03 18:33

    Construction commences on 'Giannis Antetokounmpo' BB court in Ghana

  48. 10/03 11:12

    SKY Express offers free flights for Athens-Thessaloniki students

  49. 09/03 23:09

    UNWTO and Saudi Arabia join forces to promote education and training in tourism

  50. 09/03 21:46

    IATA: Passenger demand stays strong in January

  51. 09/03 20:20

    UNWTO: New report to support climate action in the tourism industry

  52. 09/03 13:45

    Natural gas prices for households in Athens dropped 23% during February

  53. 09/03 02:13

    Feminist organizations rally in downtown Athens for International Women's Day

  54. 09/03 00:18

    The UK’s National Theatre staging Homer’s epic Odyssey across England

  55. 08/03 23:29

    Greek GDP rose 5.9% in 2022

  56. 08/03 22:37

    International Air Transport Association releases 2022 airline safety performance

  57. 08/03 22:06

    Railroad employees to continue strike action in Greece through Friday

  58. 08/03 20:47

    Archbishop of Greece meets with visiting Pakistani Shia Muslim leader in Athens

  59. 08/03 20:36

    SNF Institute for Infectious Disease Research founded at Rockefeller University

  60. 08/03 18:53

    Europarliament's Civil Liberties Committee completes two-day visit to Athens

  61. 08/03 17:01

    UN World Tourism Organization: Women take "centre stage"in sector development

  62. 08/03 00:46

    EU officials to discuss railway safety and modernization in Athens on Wednesday

  63. 08/03 00:13

    IATA: Air cargo makes a soft start to 2023

  64. 07/03 22:29

    Greek PM asks shipping minister to increase security on ships ahead of Easter

  65. 07/03 21:25

    Athens mass transport to operate on limited schedule during Wednesday's strike

  66. 07/03 20:39

    Founder of company renovating Athens’ Archaeological Museum wins ‘Architecture Nobel ’

  67. 07/03 20:28

    IATA: Disjointed EU PLACI roll out risks customs clearance delays

  68. 07/03 19:42

    Three Athens Parthenon fragments returned to Greece at Vatican ceremony

  69. 07/03 16:20

    Media: ‘Modern Elgin’ arrested trying to steal pieces of Athens Acropolis

  70. 07/03 14:16

    UNWTO marks official opening of ITB Berlin

  71. 06/03 22:47

    Hellenic Cables and IPTO ink deal on Lavrio-Serifos and Serifos-Milos interconnection

  72. 06/03 22:06

    Melina Mercouri exhibition organized at Elefsina, European Capital of Culture

  73. 06/03 20:38

    Lamda Development signs deal with TEMES for joint development of hotels in Ellinikon

  74. 06/03 18:24

    24 hour general strike to affect transport across Greece on Wednesday March 8

  75. 06/03 17:43

    IATA slams disjointed EU PLACI roll out risks customs clearance delays

  76. 06/03 16:02

    AHEPA honored at Hartforf and visits UConn’s Hellenic Studies Center Paideia

  77. 06/03 15:51

    European Union promises to modernise Greece's railways and improve safety

  78. 05/03 23:59

    Cyprus port of Paphos wins EU 2023 European Capital of Smart tourism competition

  79. 05/03 15:54

    Tripadvisor: These are the two Greek beaches among the World’s top-25

  80. 05/03 15:47

    Associated Press report: Nations reach accord to protect marine life on high seas

  81. 05/03 15:43

    Athens metro and train strike on Sunday

  82. 05/03 15:40

    Moving concert tribute to legendary Greek composer Manos Hatzidakis in Astoria

  83. 05/03 15:35

    Violent demonstrations and incidents in central Athens square of Syntagma

  84. 04/03 23:35

    Global aviation challenges mandatory flight reductions at Schiphol Airport

  85. 04/03 23:34

    New Minister of Agriculture calls for hard work in face of challenges in Cyprus

  86. 04/03 18:28

    Strike to affect Athens metro lines 1, 2, and 3 on Sunday

  87. 04/03 11:54

    Managing operator STASY responds to charges on Athens tram safety

  88. 03/03 23:19

    British King and US President offer condolences to Greece after rail disaster

  89. 03/03 02:24

    Hellenic Train and TrainOSE staff announces another 24-hour strike on Friday

  90. 03/03 02:16

    Greek PM announces investigation committee of experts into Tempi train crash

  91. 02/03 23:19

    Online tool for property sales through digital system for notaries in Greece

  92. 02/03 18:12

    Slight hike in Covid-19 and flu infections in Greece between February 20-26

  93. 02/03 15:29

    Eurostat report: Greek inflation rate dropped to 6.5% in February

  94. 02/03 01:17

    Greece declares three-day mourning period after its worst train disaster

  95. 01/03 23:56

    Greek Tourism Minister appears optimistic for next season

  96. 01/03 19:27

    Cyprus' new Deputy Minister of Tourism vows that he is ready for "hard work”

  97. 01/03 19:18

    Thessaloniki Documentary Festival cancels opening due to train disaster

  98. 01/03 17:24

    Greek Infrastructure & Transport Minister resigns over Tempi train crash

  99. 01/03 09:57

    Finance Ministry: Greek state budget reports 2.773 billion euros surplus in January

  100. 01/03 02:39

    Hundreds of American soldiers to arrive at northern Greek port of Alexandroupolis