BoG: Ejection by 142% of travel receipts in 10 months

The travel balance presented a surplus of 1,267 million euros in October 2021 and 9,300 million euros in the period January-October 2021, according to data released by the Bank of Greece.

Travel receipts increased by 159.8% in October 2021 and by 142.0% in the period January-October 2021, while incoming travel traffic increased by 124.5% in October 2021 and by 93.8% in January -October 2021.

More specifically, according to the provisional data, the travel balance in October 2021 showed a surplus of 1,267 million euros, compared to a surplus of 490 million euros in the corresponding month of 2020. In particular, an increase of 159.8% was recorded in October 2021 by travel receipts, which amounted to 1,438 million euros, compared to 554 million euros in the corresponding month of 2020, while an increase of 167.8% was also observed in travel payments (October 2021: 171 million euros, October 2020: 64 million euros ).

The increase in travel receipts is due to the increase in incoming travel traffic by 124.5%, as well as the average expenditure per trip by 13.8%. Net receipts from travel services offset by 55.0% the goods balance deficit and contributed 69.9% to total net receipts from services.

In the period January-October 2021, the travel balance showed a surplus of 9,300 million euros, compared to a surplus of 3,491 million euros in the corresponding period of 2020. An increase of 5,982 million euros (142.0%) was presented by travel receipts, which were formed in 10,196 million euros, while an increase of 173 million euros (23.9%) was also observed in travel payments, which amounted to 896 million euros.

The increase in travel receipts is due to the increase in incoming travel traffic by 93.8%, as well as the average expenditure per trip by 23.7%. Net receipts from travel services offset by 46.3% the balance of goods deficit and contributed 76.4% to total net receipts from services.

Travel receipts

In October 2021, as mentioned above, travel receipts increased by 159.8% compared to the corresponding month of 2020. More specifically, receipts from residents of EU-27 countries increased by 127.1%, which were formed in 881 million euros, while receipts from residents of non-EU-27 countries increased by 223.3% (October 2021: 526 million euros, October 2020: 163 million euros). 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 122.2% (October 2021: 789 million euros, October 2020: 355 million euros), as well as and by residents of EU-27 countries outside the euro area by 179.8%, which amounted to 92 million euros.

In particular, for the most important countries of origin of travelers from the euro area, receipts from Germany increased by 91.3% to 462 million euros and those from France increased by 77.4% to 90 million euros. From outside the EU-27, receipts from the United Kingdom increased by 124.6% to 224 million euros, while receipts from the United States increased by 2,355.1% to 101 million. euro. Receipts from Russia also increased by 2,159.6% and amounted to 28 million euros.

In the period January-October 2021, travel receipts increased by 142.0% compared to the corresponding period of 2020 and amounted to 10,196 million euros. This development is due to the increase of receipts from residents of EU-27 countries by 138.6%, which amounted to 6,694 million euros, as well as receipts from residents of non-EU-27 countries by 135.5%, which amounted to EUR 3,299 million.

More specifically, receipts from residents of euro area countries amounted to 5,363 million euros, increased by 127.0%, while receipts from residents of EU-27 countries outside the euro area increased by 200.4% and amounted to to EUR 1,331 million. In particular, receipts from Germany increased by 100.6% compared to the corresponding period of 2020 and amounted to 2,244 million euros, while receipts from France increased by 173.8% and amounted to 997 million euros. From outside the EU-27, receipts from the United Kingdom increased by 91.0% to € 1,409 million. Receipts from the US increased by 632.1% and amounted to 588 million euros, while those from Russia increased by 624.5% and amounted to 96 million euros.

Incoming travel traffic

Incoming travel traffic, in October 2021, amounted to 2,144 thousand travelers, increased by 124.5% compared to the corresponding month of 2020. In particular, travel traffic through airports increased by 121.9% compared to October of 2020 and this through road border stations by 221.6%. The increase in incoming travel traffic was a result of the increase in travel traffic from both EU-27 countries by 117.3% and from non-EU-27 countries by 140.9%.

More specifically, travel traffic from the euro area countries amounted to 1,225 thousand travelers, increased by 115.6%. Travel traffic from EU-27 countries outside the euro area also increased by 127.4%, reaching 213 thousand travelers. In particular, travel traffic from Germany increased by 71.0% and amounted to 669 thousand travelers, while that from France increased by 73.4% to 135 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 54.7% to 310 thousand travelers and from the USA by 2,131.4% to 69 thousand travelers. Finally, travel traffic from Russia also increased by 2,020.9% and amounted to 28 thousand travelers.

In the period January-October 2021, incoming travel traffic increased by 93.8% and amounted to 13,763 thousand travelers, compared to 7,102 thousand travelers in the corresponding period of 2020. In particular, travel traffic through airports increased by 103.6%, while it increased by 62.8% through road border stations.

During the period under review, travel traffic from EU-27 countries amounted to 9,673 thousand travelers, showing an increase of 103.6% compared to the corresponding period of 2020. Travel traffic from non-EU-27 countries was to 4,091 thousand travelers, increased by 73.9%.

Travel traffic from euro area countries increased by 109.1% and that from EU-27 countries outside the euro area by 90.5%. In particular, travel traffic from Germany increased by 92.9% and amounted to 2,883 thousand travelers, while that from France increased by 146.8% to 1,141 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 44.5% to 1,485 thousand travelers, while that from the United States increased by 265.9% to 365 thousand travelers. Finally, travel traffic from Russia increased by 286.4% and amounted to 94 thousand travelers.