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    Πέμπτη, 11-Οκτ-2018 15:38

    Greek travel services balance in surplus in Q1 2018

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    Greek travel services balance in surplus in Q1 2018

    The balance of travel services posted a surplus of €3,693 million in January-June 2018, up 17.4% from a surplus of €3,147 million in January-June 2017. According to a press release form Bank of Greece this development was due to the stronger increase in travel receipts (up €700 million or 17.2%) than in travel payments (up €154 million or 16.5%). The rise in travel receipts in January-June 2018 relative to the same period of 2017 stemmed from a 22.9% increase in the number of non-resident inbound visitors, as average expenditure per trip fell by €22 or 4.7% (January-June 2018: €453, January-June 2017: €476).

    Specifically, expenditure per overnight stay rose by 1.0% (January-June 2018: €69, January-June 2017: €68), while the average length of stay fell by 5.6% year-on-year to 6.6 nights (January-June 2017: 7.0 nights). The number of overnight stays increased by 16.0% to 69,429 thousand in January-June 2018, from 59,859 thousand in January-June 2017. 

    Travel receipts 

    In January-June 2018, travel receipts totalled €4,777 million, up 17.2% relative to the same period of 2017. This development was driven by a 25.1% increase in receipts from residents of the EU28, which came to €3,321 million or 69.5% of total travel receipts, and by a 2.2% rise in receipts from residents outside the EU28 to €1,305 million, according to the data form Bank of Greece. 

    In particular, receipts from euro area residents increased by 25.9% year-on-year to €2,064 million, while receipts from residents of non-euro area EU28 countries also rose, by 23.9% to €1,257 million. 

    Among major countries of origin, receipts from Germany rose by 40.6% to €945 million and receipts from France rose by 9.9% to €271 million. Receipts from the United Kingdom also increased, by 6.0% to €701 million. Turning to non-EU28 countries, receipts from Russia fell by 19.9% to €103 million, whereas receipts from the United States increased by 14.4% to €313 million.

    Travel receipts by trip purpose

    Looking at the breakdown of non-resident expenditure in Greece by trip purpose, trips for personal reasons represented the bulk of receipts in January-June 2018, with a share of 92.0% in total expenditure, unchanged from the same period of 2017, while the corresponding receipts increased by 17.1%. Within this category, leisure accounted for the largest share of total expenditure (January-June 2018: 80.4%, January-June 2017: 80.7%), with the corresponding receipts increasing by 16.8% to €3,843 million. Trips for the purpose of visiting family, with a share of 6.8% in total expenditure, showed a rise of 36.2% in corresponding receipts. Receipts from trips for health purposes decreased by 15.0% to €20 million. Finally, receipts from business trips increased by 17.6%, but their share in total receipts remained unchanged at 8.0% in January-June 2018.

    Inbound traveller flows

    As already mentioned, the number of inbound visitors in January-June 2018, increased by 22.9% to 10,536 thousand, from 8,574 thousand in January-June 2017. Specifically, visitor flows through airports increased by 18.3%, while visitor flows through road border-crossing points increased by 22.2%. Visitors from within the EU28 accounted for 63.9% of the total number of visitors, while visitors from outside the EU28 accounted for 25.9%.  In January-June 2018, visitors from the EU28 increased by 26.2% relative to the same period of 2017. This development is attributed to an increase in the number of visitors from euro area countries (up 22.3% to 3,504 thousand), as well as to a rise in the number of visitors from the non-euro area EU28 countries (up 30.6% to 3,222 thousand). The number of visitors from non-EU28 countries rose by 4.6% to 2,731 thousand. 

    In particular, visitors from Germany increased by 38.9% to 1,456 thousand, as did visitors from France, by 11.0% to 459 thousand. Visitors from the United Kingdom also increased, by 10.5% to 1,058 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia fell by 18.7% to 152 thousand, while the number of visitors from the United States rose by 16.5% to 348 thousand.

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