Bank of Greece: Greece welcomes 3.247 million visitors in January-April 2023

Based on provisional data, the balance of travel services in April 2023 showed a surplus of €498.2 million, up from a surplus of €429.2 million in April 2022. More specifically, travel receipts in April 2023 rose by 19.9% to €761.1 million, from €634.9 million in April 2022, while travel payments also increased by 27.8% (April 2023: €262.9 million, April 2022: €205.7 million). The rise in travel receipts was due to a 30.0% increase in inbound traveller flows, as average expenditure per trip declined by 8.4%. Net travel receipts offset 21.9% of the goods deficit and contributed 60.1% to total net services receipts.

In January‑April 2023, the balance of travel services posted a surplus of €731.4 million, up from a surplus of €579.3 million in the same period of 2022. Travel receipts rose by €411.7 million, or 38.0%, to €1,494.0 million, while travel payments increased by €259.5 million, or 51.6%, to €762.6 million. The rise in travel receipts reflected a 52.5% increase in inbound traveller flows, as average expenditure per trip fell by 9.6%. Net travel receipts offset 7.6% of the goods deficit and contributed 40.1% to total net services receipts.

Travel receipts

In April 2023, as mentioned previously, travel receipts grew by 19.9% year-on-year. In more detail, receipts from residents of EU27 countries increased by 12.5% to €385.2 million, while receipts from outside the EU27 rose by 27.4% (April 2023: €338.4 million, April 2022: €265.6 million). The rise in receipts from within the EU27 is attributed to increases in receipts from euro-area residents by 4.6% (April 2023: €326.3 million, April 2022: €311.8 million) and in receipts from residents of non-euro area EU27 countries by 92.2% to €58.9 million. More specifically, among major euro area countries of origin, receipts from Germany increased by 1.9% to €117.3 million, as did receipts from France, by 0.8% to €69.1 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 8.4% to €82.0 million, while receipts from the United States grew by 89.7% to €71.2 million. Receipts from Russia decreased by 48.6% to €0.8 million.

In January-April 2023, travel receipts totalled €1,494.0 million, up by 38.0% relative to the same period of 2022. This development was due to increases in receipts from residents of the EU27 by 20.5% to €703.9 million and in receipts from residents outside the EU27 by 59.8% to €748.0 million. In more detail, receipts from euro-area residents rose by 16.7% to €593.2 million, while receipts from residents of non-euro area EU27 countries increased by 45.9% to €110.7 million. Specifically, receipts from Germany remained stable at €180.7 million, while receipts from France rose by 36.6% to €127.0 million. Turning to non-EU27 countries, receipts from the United Kingdom grew by 18.0% to €136.9 million. Receipts from the United States increased by 93.9% to €138.1 million, while receipts from Russia dropped by 47.0% to €4.0 million.

Inbound traveller flows

The number of inbound travellers in April 2023 rose by 30.0% year-on-year to 1,372.6 thousand. Specifically, traveller flows through airports increased by 19.9% year-on-year and traveller flows through road border-crossing points rose by 64.3%. This overall increase was due to higher traveller flows from both within the EU27 (up by 32.7%) and outside the EU27 (up by 26.4%). In greater detail, travellers from within the euro area rose by 20.7% to 570.3 thousand, while travellers from non-euro area EU27 countries increased by 76.5% to 227.6 thousand. Specifically, the number of travellers from Germany rose by 33.2% to 199.7 thousand, as did the number of travellers from France, by 12.3% to 103.8 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom dropped by 0.5% to 122.7 thousand, while travellers from the United States increased by 88.6% to 78.5 thousand. Finally, the number of travellers from Russia fell by 89.5% to 0.3 thousand.

In January-April 2023, the number of inbound travellers rose by 52.5% to 3,246.8 thousand (January-April 2022: 2,128.7 thousand). Specifically, traveller flows through airports increased by 40.7%, while traveller flows through road border-crossing points grew by 88.0%. In the period under review, the number of travellers from within the EU27 rose by 42.1% year-on‑year to 1,696.6 thousand and travellers from outside the EU27 increased by 65.8% to 1,550.1 thousand. Travellers from within the euro area were up by 29.9% and travellers from non-euro area EU27 countries were up by 78.7%. Specifically, the number of travellers from Germany grew by 18.7% to 357.7 thousand and travellers from France rose by 34.5% to 196.6 thousand. Turning to non-EU27 countries, travellers from the United Kingdom rose by 26.1% to 271.0 thousand and travellers from the United States increased by 108.1% to 165.0 thousand. Finally, the number of travellers from Russia fell by 58.9% to 4.8 thousand.

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