Bank of Greece: Travel receipts increased by 22.0% during January-April 2024

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Bank of Greece: Travel receipts increased by 22.0% during January-April 2024The balance of travel services posted a surplus of €571.2 million in April 2024 and a surplus of €937.8 million in January-April 2024

Based on provisional data by the Bank of Greece, the balance of travel services in April 2024 showed a surplus of €571.2 million, up from a surplus of €474.6 million in April 2023. More specifically, travel receipts in April 2024 rose by 15.9% to €844.5 million, from €728.9 million in April 2023, while travel payments also increased by 7.5% (April 2024: €273.3 million, April 2023: €254.3 million). The rise in travel receipts is attributed to a 13.9% increase in inbound traveller flows, as well as to a rise of 1.9% in average expenditure per trip. Net travel receipts offset 18.1% of the goods deficit and contributed 68.5% of total net services receipts.

In January-April 2024, the balance of travel services posted a surplus of €937.8 million, up from a surplus of €767.9 million in the same period of 2023. Travel receipts rose by €322.6 million or 22.0% to €1,786.5 million, while travel payments increased by €152.7 million or 21.9% to €848.7 million. The rise in travel receipts is attributed to a 20.0% increase in inbound traveller flows, as well as to a rise of 2.1% in average expenditure per trip. Net travel receipts offset 8.1% of the goods deficit and contributed 45.8% of total net services receipts.

Travel receipts

In April 2024, as mentioned previously, travel receipts grew by 15.9% year-on-year. In more detail, receipts from residents of EU27 countries increased by 30.0% to €472.2 million, up from €363.3 million in April 2023, as did receipts from other countries, which grew by 0.6% (April 2024: €328.3 million, April 2023: €326.4 million). The rise in receipts from within the EU27 was driven by increases in receipts mainly from euro-area residents by 37.4% (April 2024: €426.7 million, April 2023: €310.5 million), whereas receipts from residents of non-euro area EU27 countries decreased by 13.7% year-on-year to €45.6 million. More specifically, among major euro area countries of origin, receipts from Germany rose by 23.5% to €139.2 million, as did receipts from France, which grew by 15.1% to €77.6 million. Receipts from Italy also increased by 154.0% to €63.8 million. Turning to other countries, receipts from the United Kingdom decreased by 31.5% to €54.6 million, whereas receipts from the United States increased by 39.1% to €103.8 million. No receipts were recorded from Russia.

In January-April 2024, travel receipts totalled €1,786.5 million, up by 22.0% relative to the same period of 2023. This development was due to increases in receipts from residents of the EU27 by 38.5% to €942.3 million and in receipts from residents of other countries by 7.5% to €779.7 million. In greater detail, receipts from euro-area residents rose by 40.7% to €808.4 million and receipts from residents of non-euro area EU27 countries increased by 26.5% to €133.9 million. Specifically, receipts from Germany rose by 31.1% to €235.6 million, as did receipts from France, which increased by 6.9% to €127.8 million. Receipts from Italy grew by 118.9% to €121.4 million. Turning to other countries, receipts from the United Kingdom decreased by 16.7% to €111.7 million, whereas receipts from the United States increased by 35.7% to €204.6 million. Finally, receipts from Russia decreased by 62.7% to €1.9 million.

Inbound traveller flows

The number of inbound travellers in April 2024 rose by 13.9% year-on-year to 1,563.5 thousand. Specifically, traveller flows through airports rose by 22.0% relative to April 2023, whereas traveller flows through road border-crossing points fell by 5.7%. This overall increase was due to higher traveller flows from both within the EU27 (up by 21.5%) and other countries (up by 3.4%). In greater detail, travellers from within the euro area rose by 34.9% to 769.3 thousand. Τravellers from non-euro area EU27 countries decreased by 12.0% to 200.3 thousand. Specifically, the number of travellers from Germany rose by 27.6% to 254.7 thousand and the number of travellers from France decreased by 8.9% to 94.5 thousand. Traveller flows from Italy also increased by 83.8% to 117.6 thousand. Turning to other countries, the number of travellers from the United Kingdom fell by 26.6% to 90.1 thousand, whereas travellers from the United States increased by 33.9% to 105.1 thousand. No travellers were recorded from Russia.

In January-April 2024, the number of inbound travellers rose by 20.0% to 3,896.0 thousand (January-April 2023: 3,246.8 thousand). Specifically, traveller flows through airports grew by 23.4%, while traveller flows through road border-crossing points increased by 14.4%. In the period under review, the number of travellers from within the EU27 rose by 27.1% year-on-year to 2,156.7 thousand, while travellers from other countries increased by 12.2% to 1,739.3 thousand. The number of travellers from within the euro area rose by 34.5% and travellers from non-euro area EU27 countries increased by 11.0%. Specifically, the number of travellers from Germany rose by 28.3% to 459.0 thousand, as did the number of travellers from France, by 8.2% to 212.6 thousand. Traveller flows from Italy also increased by 59.6% to 222.8 thousand. Turning to other countries, the number of travellers from the United Kingdom fell by 23.2% to 208.2 thousand, whereas travellers from the United States increased by 62.1% to 267.5 thousand. Finally, the number of travellers from Russia fell by 74.4% to 1.2 thousand.

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

Photo Source: pixabay.com

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