BoG: Over 400% jump in travel receipts in March

Travel receipts jumped by 404.3% in March 2022 and by 342.2% for the period January-March 2022, according to data from the Bank of Greece.

The travel balance showed a surplus of 77 million euros in March 2022 and 200.8 million euros in the first quarter of 2022.

Incoming travel traffic increased by 318.9% in March 2022 and by 295.8% in the period January-March 2022.

Travel balance

According to the provisional data, the travel balance in March 2022 showed a surplus of 77.0 million euros, compared to a surplus of 8.3 million euros in the corresponding month of 2021. In particular, an increase of 404.3% was recorded in March 2022. travel receipts, which amounted to 196.7 million euros, compared to 39.0 million euros in the corresponding month of 2021, while an increase of 289.1% was also observed in travel payments (March 2022: 119.7 million euros, March 2021: EUR 30.8 million). The increase in travel receipts is due to the increase in incoming travel traffic by 318.9%, as well as the average expenditure per trip by 17.4%. Net receipts from travel services offset by 3.0% the goods deficit and contributed 18.1% to total net receipts from services.

In the period January-March 2022, the travel balance showed a surplus of 200.8 million euros, compared to a surplus of 15.3 million euros in the corresponding period of 2021. An increase of 363.5 million euros (342.2%) was presented by travel receipts , which amounted to 469.7 million euros, while an increase of 177.9 million euros (195.6%) was also observed in travel payments, which amounted to 268.9 million euros. The increase in travel receipts is due to the increase in incoming travel traffic by 295.8%, as well as the increase in the average expenditure per trip by 10.3%. Net receipts from travel services offset by 2.3% the goods deficit and contributed 18.5% to total net receipts from services.

Travel receipts

In March 2022, as mentioned above, travel receipts increased by 404.3% compared to the corresponding month of 2021. More specifically, receipts by residents of EU-27 countries increased by 249.9%, which were formed in 84.8 million euros, while receipts from residents of non-EU-27 countries increased by 624.4% (March 2022: 107.0 million euros, March 2021: 14.8 million euros). The increase in revenues from residents of EU-27 countries was a result of the increase in revenues from residents of euro area countries by 304.5% (March 2022: 69.6 million euros, March 2021: 17.2 million. receipts from residents of EU-27 countries outside the euro area by 116.7%, amounting to EUR 15.3 million. In particular, for the most important countries of origin of travelers from the euro area, receipts from Germany increased by 348.8% and amounted to 26.5 million euros and those from France by 714.5%, to 12.7 million. From outside the EU-27, receipts from the United Kingdom increased by 723.4% to 17.6 million euros, while receipts from the US increased by 1,955.5% to 19 , EUR 7 million. Receipts from Russia also increased by 2,132.9% and amounted to 1.0 million euros.

In the period January-March 2022, travel receipts increased by 342.2% compared to the corresponding period of 2021 and amounted to 469.7 million euros. This development is due to the increase of receipts from residents of EU-27 countries by 268.9%, which amounted to 237.4 million euros, as well as receipts from residents of non-EU-27 countries by 440.9 %, which amounted to 226.3 million euros. More specifically, receipts from residents of euro area countries amounted to 185.0 million euros, increased by 288.1%, while receipts from residents of EU-27 countries outside the euro area increased by 214.0 million % and amounted to 52.5 million euros. In particular, receipts from Germany increased by 279.2% and amounted to 66.1 million euros, while receipts from France increased by 567.7% and amounted to 23.6 million euros. From outside the EU-27, receipts from the United Kingdom rose by 550.0% to € 47.1 million. Receipts from the US increased by 2,093.2% and amounted to 34.5 million euros, while those from Russia increased significantly and amounted to 5.8 million euros.

Incoming travel traffic

Incoming travel traffic in March 2022 amounted to 414.3 thousand travelers, increased by 318.9% compared to the corresponding month of 2021. In particular, travel traffic through airports increased by 561.5% compared to March of 2021 and this through road border stations by 194.2%. The increase in incoming travel traffic came both from the increase in travel traffic from EU-27 countries (by 259.9%) and from non-EU-27 countries (by 401.6%). More specifically, the travel traffic from the euro area countries amounted to 152.7 thousand travelers, increased by 399.5%. Travel traffic from EU-27 countries outside the euro area also increased by 102.7%, reaching 55.0 thousand travelers. In particular, travel traffic from Germany increased by 443.9% to 55.5 thousand travelers, while that from France increased by 802.6% to 27.7 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 500.8% to 35.2 thousand travelers and from the USA by 1,371.7% to 20.9 thousand travelers. Finally, travel traffic from Russia also increased by 1,494.5% and amounted to 1.4 thousand travelers.

In the period January-March 2022, the incoming travel traffic increased by 295.8% and amounted to 1,072.7 thousand travelers, compared to 271.0 thousand travelers in the corresponding period of 2021. In particular, the traffic traffic through airports increased by 475, 5%, while that through road stations by 192.1%. During the period under review, travel traffic from EU-27 countries amounted to 592.3 thousand travelers, showing an increase of 272.0% compared to the corresponding period of 2021, while travel traffic from non-EU countries 27 increased by 329.5% and amounted to 480.4 thousand travelers. Travel traffic from euro area countries increased by 351.7%, while travel traffic from EU-27 countries outside the euro area increased by 160.0%. In particular, travel traffic from Germany increased by 306.9% to 151.4 thousand travelers, while that from France increased by 531.9% to 53.7 thousand travelers. Regarding non-EU-27 countries, travel traffic from the United Kingdom increased by 504.9% to 91.6 thousand travelers, while that from the United States increased by 1,412.5% ​​to 37.7 thousand. travelers. Finally, travel traffic from Russia increased by 1,429.3% and amounted to 8.6 thousand travelers.