Drop in travel receipts and visitor numbers to Greece in January-February

Based on provisional data by the Bank of Greece, the balance of travel services in February 2017 showed a surplus of €48 million, compared with a surplus of €6 million in February 2016. More specifically, travel receipts decreased by 3.1% to €145 million in February 2017, from €150 million in the same month of 2016. Travel payments also fell by 32.5% (February 2017: €97 million, February 2016: €143 million). The drop in travel receipts resulted from a 5.5% decline in average expenditure per trip, as inbound traveller flows increased by 2.6%. Net receipts from travel services offset 3.0% of the goods deficit and accounted for 14.9% of total net receipts from services.

In January-February 2017, the balance of travel services showed a surplus of €64 million, up 41.1% from a surplus of €45 million in the same period of 2016. This development was driven by a decrease of €27 million or 9.9% in travel payments, as travel receipts dropped by €9 million or 2.7%. The fall in travel receipts resulted from a 2.8% decline in inbound traveller flows, as average expenditure per trip remained relatively unchanged at €317. Net receipts from travel services offset 2.1% of the goods deficit and accounted for 9.7% of total net receipts from services.

Travel receipts

In February 2017, as mentioned previously, travel receipts declined by 3.1% year-on-year. In more detail, receipts from residents of the EU28 remained relatively unchanged at €82 million, while receipts from outside the EU28 dropped by 7.1% (February 2017: €61 million, February 2016: €66 million). Underlying the relative stabilisation of receipts from within the EU28 was a 5.4% increase in receipts from euro area residents (February 2017: €53 million, February 2016: €51 million), which offset an 8.1% decline in receipts from residents of non-euro area EU28 countries. Breaking down receipts by visitor’s country of origin, receipts from Germany rose by 15.3% to €16 million, while those from France increased by 40.2% to €6 million. Receipts from the United Kingdom decreased by 5.2% to €13 million. Turning to non-EU28 countries, receipts from Russia rose by 8.3% to €4 million, while receipts from the United States increased by 49.2% to €15 million.

In January-February 2017, travel receipts decreased by 2.7%, relative to the same period of 2016, to €310 million. This development is attributed to lower receipts from outside the EU28 (down 6.8% to €138 million), as receipts from within the EU28 rose by 1.0% to €168 million. In particular, receipts from euro area residents increased by 6.0% to €112 million, while those from residents of non-euro area EU28 countries fell by 7.6% to €56 million. Specifically, receipts from Germany rose by 13.4% to €37 million and those from France dropped by 10.0% to €9 million. Receipts from the United Kingdom decreased by 3.9% to €25 million. Turning to non-EU28 countries, receipts from Russia rose by 76.1% to €10 million, while receipts from the United States increased by 26.4% to €28 million.

Inbound traveller flows

The number of inbound visitors in February 2017 rose by 2.6% year-on-year to 444 thousand. Specifically, visitor flows through airports increased by 10.2%, while those through road border-crossing points declined by 6.2%. This development is attributed to higher visitor flows from within the EU28 (up 10.5%), as those from outside the EU28 fell by 7.8%. In greater detail, visitors from the euro area rose by 17.8% to 128 thousand and those from the non-euro area EU28 countries increased by 4.7% (February 2017: 144 thousand, February 2016: 138 thousand). Specifically, visitors from Germany increased by 50.2% to 48 thousand, while those from France fell by 14.4% to 11 thousand. Visitors from the United Kingdom rose by 16.3% to 34 thousand. Turning to non-EU28 countries, visitors from Russia dropped by 8.7% to 6 thousand, while visitors from the United States rose by 73.4% to 21 thousand.

In January-February 2017, the number of inbound visitors decreased by 2.8% to 965 thousand from 992 thousand in the same period of 2016. Specifically, visitor flows through airports increased by 15.4%, while those through road border-crossing points declined by 21.7%. In the period under review, visitors from within the EU28 increased by 2.2% year-on-year to 575 thousand, whereas those from outside the EU28 fell by 9.3% to 390 thousand. Visitors from the euro area rose by 24.9% and those from the non-euro area EU28 countries dropped by 13.3%. Specifically, visitors from Germany increased by 40.9% to 98 thousand, while those from France fell by 27.7% to 17 thousand. Visitors from the United Kingdom rose by 18.3% to 70 thousand. Finally, turning to non-EU28 countries, visitors from Russia increased by 74.6% to 17 thousand and those from the United States by 45.5% to 41 thousand.

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