BoG: Expansion of travel receipts by 576.7% in the four months of January-April

A surplus of 432.1 million euros in April and 633 million euros in the period January-April 2022 recorded the travel balance, according to data from the Bank of Greece. It is noted that in the last year before the pandemic 2019, the travel balance showed a surplus of 211.1 million euros in April and 375.7 million euros in the period January-April 2019.

Travel receipts increased by 1,000.4% in April 2022 and by 576.7% in the period January-April 2022 compared to the corresponding periods of 2021, while inbound travel traffic increased by 884.3% in April 2022 and by 462.7% in the period January-April 2022 compared to the corresponding periods of 2021.

Travel balance

In particular, according to the provisional data, the travel balance in April 2022 showed a surplus of 432.1 million euros, compared to a surplus of 3.2 million euros in the corresponding month of 2021. In particular, an increase of 1,000.4% was recorded in April. 2022 travel receipts, which amounted to 647.0 million euros, compared to 58.8 million euros in the corresponding month of 2021, while an increase of 286.1% was also observed in travel payments (April 2022: 214.8 million). April 2021: EUR 55.6 million). The increase in travel receipts is due to the increase in incoming travel traffic by 884.3%, as well as the average expenditure per trip by 7.7%. Net receipts from travel services offset by 14.7% the goods balance deficit and contributed 53.0% to total net receipts from services.

In the period January-April 2022, the travel balance showed a surplus of 633.0 million euros, compared to a surplus of 18.4 million euros in the corresponding period of 2021. An increase of 951.7 million euros or 576.7% showed travel receipts , which amounted to 1,116.7 million euros, while an increase of 337.1 million euros or 230.0% was also observed in travel payments, which amounted to 483.7 million euros. The increase in travel receipts is due to the increase in incoming travel traffic by 462.7%, as well as the increase in the average expenditure per trip by 17.1%. Net receipts from travel services offset by 5.4% the goods deficit and contributed 33.3% to total net receipts from services.

Travel receipts

In April 2022, as mentioned above, travel receipts increased by 1,000.4% compared to the corresponding month of 2021. More specifically, receipts from residents of EU-27 countries increased by 822.0%, which were formed in 344.8 million euros, while receipts from residents of non-EU-27 countries increased by 1,200.8% (April 2022: 278.3 million euros, April 2021: 21.4 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 842.6% (April 2022: 310.4 million euros, April 2021: 32.9 million. receipts from residents of EU-27 countries outside the euro area by 669.5%, amounting to EUR 34.4 million.

In particular, for the major countries of origin of travelers from the euro area, receipts from Germany increased by 951.3% to 111.7 million euros and those from France by 1,530.6% to 75.4 million . euro. From outside the EU-27, receipts from the United Kingdom, which amounted to € 80.9 million, increased significantly, as well as receipts from the United States, which amounted to € 33.0 million. Receipts from Russia also rose by 77.4% to 2.0 million euros.

In the period January-April 2022, travel receipts increased by 576.7% compared to the corresponding period of 2021 and amounted to 1,116.7 million euros. This development is due to the increase of receipts from residents of EU-27 countries by 472.1%, which amounted to 582.2 million euros, as well as receipts from residents of non-EU-27 countries by 698.0 %, which amounted to 504.6 million euros. More specifically, receipts from residents of euro area countries amounted to 495.4 million euros, increased by 514.7%, while receipts from residents of EU-27 countries outside the euro area increased by 310.1 million % and amounted to 86.9 million euros.

In particular, receipts from Germany increased by 533.7% and amounted to 177.7 million euros, while receipts from France increased by 1,113.4% and amounted to 99.0 million euros. From outside the EU-27, receipts from the United Kingdom increased by 1,229.8% to € 128.0 million. Receipts from the US increased by 2,098.1% and amounted to 67.4 million euros, while those from Russia increased by 503.0% and amounted to 7.8 million euros.

Incoming travel traffic

Incoming travel traffic in April 2022 amounted to 1,056.0 thousand travelers, increased by 884.3% compared to the corresponding month of 2021. In particular, travel traffic through airports increased by 1,494.3% compared to April of 2021 and this through road border stations by 427.5%. The increase in incoming travel traffic came both from the increase in travel traffic from EU-27 countries (by 874.7%) and from non-EU-27 countries (by 897.4%). More specifically, the travel traffic from the euro area countries amounted to 471.7 thousand travelers, increased by 1,012.4%. Travel traffic from EU-27 countries outside the euro area also increased by 571.9%, reaching 129.7 thousand travelers.

In particular, travel traffic from Germany increased by 1,113.0% and amounted to 149.9 thousand travelers, while that from France increased by 2,434.1% to 92.4 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased significantly to 123.3 thousand travelers as well as that from the USA which amounted to 41.6 thousand travelers. Finally, travel traffic from Russia also increased by 566.8% and amounted to 2.9 thousand travelers.

In the period January-April 2022, the incoming travel traffic increased by 462.7% and amounted to 2,128.7 thousand travelers, compared to 378.3 thousand travelers in the corresponding period of 2021. In particular, travel traffic through airports increased by 774 , 4%, while that through road stations by 258.1%. During the period under review, travel traffic from EU-27 countries amounted to 1,193.7 thousand travelers, showing an increase of 440.4% compared to the corresponding period of 2021, while travel traffic from non-EU countries -27 increased by 493.9% and amounted to 935.0 thousand travelers. Travel traffic from euro area countries increased by 558.6%, while travel traffic from EU-27 countries outside the euro area increased by 253.0%.

In particular, travel traffic from Germany increased by 507.9% and amounted to 301.3 thousand travelers, while that from France increased by 1,102.9% and amounted to 146.1 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 1,048.0% to 214.9 thousand travelers, while that from the United States increased significantly to 79.3 thousand travelers. Finally, travel traffic from Russia increased by 1,050.7% to 11.6 thousand travelers.

Compared to 2019, the last year before the pandemic

Compared to April 2019, April 2022 saw an increase in travel receipts by 19.0%, while the average expenditure per trip increased by 15.0% and incoming travel traffic by 7.5%.

Compared to the period January-April 2019, in the period January-April 2022 the travel receipts decreased by 13.4%, while the average expenditure per trip increased by 20.3% and the incoming travel traffic decreased by 27.1% .