BoG: 308.2% jump in travel receipts in November

Travel receipts jumped 308.2% in November 2021, while for the period January-November 2021 they increased by 144.6%, according to the data announced today by the Bank of Greece.

At the same time, the incoming travel traffic increased by 219.3% in November 2021 and by 96.8% in the period January-November 2021.

Analytically, according to the provisional data of the BoG, the travel balance in November 2021 showed a surplus of 174 million euros, compared to a surplus of 33 million euros in the corresponding month of 2020.

In particular, an increase of 308.2% was recorded in November 2021 in travel receipts, which amounted to 287 million euros, compared to 70 million euros in the corresponding month of 2020, while an increase of 205.7% was also observed in travel payments ( November 2021: EUR 113 million, November 2020: EUR 37 million). The increase in travel receipts is due to the increase in incoming travel traffic by 219.3%, as well as the average expenditure per trip by 25.6%. Net receipts from travel services offset by 6.3% the goods balance deficit and contributed 32.4% to total net receipts from services.

In the period January-November 2021, the travel balance showed a surplus of 9,470 million euros, compared to a surplus of 3,524 million euros in the corresponding period of 2020. An increase of 6,193 million euros (144.6%) was presented by travel receipts, which were formed in 10,477 million euros, while an increase of 247 million euros (32.4%) was also observed in travel payments, which amounted to 1,007 million euros. The increase in travel receipts is due to the increase in incoming travel traffic by 96.8%, as well as the average expenditure per trip by 22.6%. Net receipts from travel services offset by 41.5% the goods balance deficit and contributed 74.6% to total net receipts from services.

Travel receipts

In November 2021, as mentioned above, travel receipts increased by 308.2% compared to the corresponding month of 2020. More specifically, receipts from residents of EU-27 countries increased by 257.5%, which were formed in € 118 million, while receipts from residents of non-EU-27 countries increased by 340.9% (November 2021: € 160 million, November 2020: € 36 million). The increase in receipts from residents of EU-27 countries was a result of the increase in receipts from residents of euro area countries by 282.7% (November 2021: 106 million euros, November 2020: 28 million euros), as well as and by residents of EU-27 countries outside the euro area by 126.1%, which amounted to 12 million euros. In particular, for the most important countries of origin of travelers from the euro area, receipts from Germany increased by 208.9% and amounted to 30 million euros and those from France increased by 293.5% to 7 million euros. From outside the EU-27, receipts from the United Kingdom increased by 163.0% to € 36 million, while receipts from the US increased by 363.1% to € 22 million. euro. Receipts from Russia also increased by 1,642.2% and amounted to 10 million euros.

In the period January-November 2021, travel receipts increased by 144.6% compared to the corresponding period of 2020 and amounted to 10,477 million euros. This development is due to the increase of receipts from residents of EU-27 countries by 140.2%, which amounted to 6,819 million euros, as well as receipts from residents of non-EU-27 countries by 143.6%, which amounted to EUR 3,500 million. More specifically, receipts from residents of euro area countries amounted to 5,562 million euros, increased by 132.7%, while receipts from residents of EU-27 countries outside the euro area increased by 180.4% and amounted to at 1,258 million euros. In particular, receipts from Germany increased by 108.5% compared to the corresponding period of 2020 and amounted to 2,352 million euros, while receipts from France increased by 170.7% and amounted to 991 million euros. From outside the EU-27, receipts from the United Kingdom increased by 95.6% to € 1,470 million. Receipts from the US increased by 603.4% and amounted to 598 million euros, while those from Russia increased by 674.8% and amounted to 108 million euros.

Incoming travel traffic

Incoming travel traffic in November 2021 amounted to 561 thousand travelers, increased by 219.3% compared to the corresponding month of 2020. In particular, travel traffic through airports increased by 249.6% compared to November 2020 and this through road border stations by 197.9%. The increase in incoming travel traffic was a result of the increase in travel traffic from both EU-27 countries by 224.3% and from non-EU-27 countries by 214.2%. More specifically, the travel traffic from the euro area countries amounted to 228 thousand travelers, increased by 254.6%. Travel traffic from EU-27 countries outside the euro area also increased by 147.6%, reaching 63 thousand travelers. In particular, travel traffic from Germany increased by 258.2% and amounted to 75 thousand travelers, while that from France increased by 375.1% to 18 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 88.6% to 64 thousand travelers and from the USA by 268.5% to 17 thousand travelers. Finally, travel traffic from Russia also increased by 4,281.0% and amounted to 17 thousand travelers.

In the period January-November 2021, the incoming travel traffic increased by 96.8% and amounted to 14,324 thousand travelers, compared to 7,278 thousand travelers in the corresponding period of 2020. In particular, travel traffic through airports increased by 106.7%, while it increased by 66.5% through road border stations. During the period under review, travel traffic from EU-27 countries amounted to 9,964 thousand travelers, showing an increase of 105.9% compared to the corresponding period of 2020. Travel traffic from non-EU-27 countries amounted to 4,361 thousand travelers, increased by 78.8%. Travel traffic from euro area countries increased by 111.9% and that from EU-27 countries outside the euro area by 91.5%. In particular, travel traffic from Germany increased by 95.2% to 2,958 thousand travelers, while that from France increased by 148.6% to 1,159 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 45.9% to 1,548 thousand travelers, while that from the United States increased by 266.0% to 382 thousand travelers. Finally, travel traffic from Russia increased by 350.1% and amounted to 112 thousand travelers.