By A. Tsimplakis
[email protected]
Major differences in per diem travel spending by holiday-makers in Greece continued to differentiate tourists from northern Europe, the US, Russia, other EU countries and neighboring states.
In a press release issued this week by the Bank of Greece (BoG), provisional data showed that "... the balance of travel services in June 2018 showed a surplus of €2,172 million, compared with a surplus of €1,872 million in June 2017. More specifically, travel receipts in June 2018 rose to €2,330 million (up 16.0%, from €2,008 million in June 2017), but were partly offset by travel payments, which rose to €158 million (up 16.5%, from €135 million in June 2017). The rise in travel receipts was due to a 22.3% increase in inbound traveller flows, as average expenditure per trip fell by €28 or 4.7%. Net receipts from travel services accounted for 84.0% of total net receipts from services and more than offset (110.5%) the goods deficit.
In January-June 2018, the balance of travel services showed a surplus of €3,762 million, up from a surplus of €3,147 million in the same period of 2017. This development is attributed to an increase, by 18.9% or €771 million, in travel receipts, which were partly offset by travel payments, which rose by 16.8% or €156 million. The rise in travel receipts mainly reflected a 19.1% increase in inbound traveller flows and, to a lesser extent, an increase in the average expenditure per trip by €3 or 0.6%. Net receipts from travel services offset 37.9% of the goods deficit and accounted for 66.8% of total net receipts from services.
Travel receipts
In June 2018, as mentioned previously, travel receipts rose by 16.0% year-on-year. In more detail, receipts from residents of the EU28 increased by 24.5% to €1,688 million, while receipts from outside the EU28 fell by 1.9% (June 2018: €583 million, June 2017: €595 million). The higher receipts from within the EU28 were due to increases in receipts from euro area residents by 20.1% to €944 million and in receipts from residents of non-euro area EU28 countries by 30.6% to €744 million (June 2017: €570 million). Among major countries of origin, receipts from Germany rose by 23.1% to €407 million and receipts from France rose by 19.9% to €122 million. Receipts from the United Kingdom increased by 6.5% to €414 million. Turning to non-EU28 countries, receipts from Russia fell by 14.9% to €63 million, while receipts from the United States rose by 10.8% to €131 million.
In January-June 2018, travel receipts totalled €4,848 million, up 18.9% relative to the same period of 2017. This development was driven by a 29.6% increase in receipts from residents of the EU28, which came to €3,422 million, as receipts from residents outside the EU28 edged down by 0.2% to €1,287 million. In particular, receipts from euro area residents increased by 29.8% year-on-year to €2,129 million, while receipts from residents of non-euro area EU28 countries rose by 29.3% to €1,293 million. Specifically, receipts from Germany rose by 44.5% to €972 million, while receipts from France increased by 11.9% to €276 million. Receipts from the United Kingdom also increased, by 7.0% to €707 million. Turning to non-EU28 countries, receipts from Russia decreased by 23.4% to €99 million, while receipts from the United States increased by 5.4% to €288 million.
Inbound traveller flows(1)
The number of inbound visitors in June 2018 rose by 22.3% year-on-year to 4,104 thousand. Specifically, visitor flows through airports increased by 18.0%, as did visitor flows through road border-crossing points, by 37.0%. This development is attributed to higher visitor flows from within the EU28 (up 29.7%), as visitor flows from outside the EU28 rose by 5.7%. In greater detail, the number of visitors from within the euro area increased by 16.4% to 1,425 thousand, while visitors from the non-euro area EU28 countries also rose, by 44.5% (June 2018: 1,584 thousand, June 2017: 1,096 thousand). Specifically, the number of visitors from Germany increased by 24.3% to 568 thousand, while visitors from France increased by 23.6% to 186 thousand. Visitors from the United Kingdom increased by 15.2% to 578 thousand. Turning to non-EU28 countries, visitors from Russia decreased by 9.2% to 99 thousand, whereas visitors from the United States increased by 21.4% to 150 thousand.
In January-June 2018, the number of inbound visitors rose by 19.1% to 9,456 thousand, compared with 7,941 thousand in the same period of 2017. Specifically, visitor flows through airports increased by 18.3%, as did visitor flows through road border-crossing points, by 22.2%. In the period under review, the number of visitors from within the EU28 rose by 26.2% year-on-year to 6,726 thousand, while visitors from outside the EU28 rose by 4.6% to 2,731 thousand. Visitors from within the euro area rose by 22.3%, as did visitors from the non-euro area EU28 countries, by 30.6%. Specifically, the number of visitors from Germany increased by 38.9% to 1,456 thousand, while the number of visitors from France increased by 11.0% to 459 thousand. Visitors from the United Kingdom rose 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, whereas the number of visitors from the United States rose by 16.5% to 348 thousand."
