Bank of Greece issued the following announcement on June 21.
Balance of travel services
Based on provisional data, the balance of travel services in April 2019 showed a surplus of €200 million, compared with a surplus of €209 million in April 2018. More specifically, travel receipts in April 2019 rose by 6.9% to €537 million, from €503 million in April 2018, while travel payments also increased by 14.6% (April 2019: €337 million, April 2018: €294 million). The rise in travel receipts reflected a 20.2% increase in average expenditure per trip, as inbound traveller flows decreased by 11.3%. Net receipts from travel services offset 11.6% of the goods deficit and accounted for 31.2% of total net receipts from services.
In January-April 2019, the balance of travel services showed a surplus of €412 million, up from a surplus of €336 million in the same period of 2018. This development is attributed to an increase, by 22.8% or €241 million, in travel receipts, which were only partly offset by travel payments, up by 22.8% or €164 million. The rise in travel receipts is attributed mainly to a 22.6% increase in average expenditure per trip, as inbound traveller flows rose only slightly, by 0.5%. Net receipts from travel services offset 5.3% of the goods deficit and accounted for 18.9% of total net receipts from services.
Travel receipts
In April 2019, as mentioned previously, travel receipts rose by 6.9% year-on-year. In more detail, receipts from residents of the EU28 fell by 5.4% to €296 million, whereas receipts from outside the EU28 rose by 30.4% (April 2019: €209 million, April 2018: €160 million). The fall in receipts from within the EU28 was due to a 21.1% decline in receipts from residents of non-euro area EU28 countries (April 2019: €74 million, April 2018: €94 million), as receipts from euro area residents rose by 1.3% to €222 million. Among major countries of origin, receipts from Germany decreased by 34.5% to €55 million, as did receipts from France, by 21.2% to €41 million. Receipts from the United Kingdom fell slightly, by 0.8% to €40 million. Turning to non-EU28 countries, receipts from the United States rose by 3.4% to €36 million, while receipts from Russia fell by 46.7% to €4 million.
In January-April 2019, travel receipts totalled €1,297 million, up 22.8% relative to the same period of 2018. This development was driven by an 8.5% increase in receipts from residents of the EU28, which came to €694 million, and by a 48.1% rise in receipts from residents outside the EU28 to €566 million. In particular, receipts from euro area residents increased by 5.9% year-on-year to €462 million, while receipts from residents of non-euro area EU28 countries rose by 14.1% to €232 million. Specifically, receipts from Germany fell by 13.3% to €140 million and receipts from France decreased by 2.0% to €68 million. By contrast, receipts from the United Kingdom rose by 39.9% to €115 million. Turning to non-EU28 countries, receipts from the United States increased by 60.7% to €112 million, as did receipts from Russia, by 16.7% to €19 million.
Inbound traveller flows(1)
The number of inbound visitors in April 2019 fell by 11.3% year-on-year to 982 thousand. Specifically, visitor flows through airports declined by 1.1%, while visitor flows through road border-crossing points decreased by 30.4%. This decrease in flows was due to lower visitor flows from within the EU28 (down 17.4%), as visitor flows from outside the EU28 rose by 0.6%. In greater detail, the number of visitors from within the euro area increased by 1.4% to 389 thousand, while visitors from the non-euro area EU28 countries decreased by 38.4% (April 2019: 212 thousand, April 2018: 345 thousand). Specifically, the number of visitors from Germany decreased by 24.0% to 107 thousand, while visitors from France increased by 7.3% to 66 thousand. Visitors from the United Kingdom fell by 22.1% to 64 thousand. Turning to non-EU28 countries, the number of visitors from the United States edged up by 0.5% to 51 thousand, whereas the number of visitors from Russia fell by 15.1% to 12 thousand.
In January-April 2019, the number of inbound visitors rose by 0.5% year-on-year to 2,918 thousand (January-April 2018: 2,903 thousand). Specifically, visitor flows through airports increased by 10.8%, whereas visitor flows through road border-crossing points declined by 13.4%. In the period under review, the number of visitors from within the EU28 decreased by 7.0% year-on-year to 1,674 thousand, while the number of visitors from outside the EU28 increased by 12.7% to 1,244 thousand. Visitors from within the euro area declined by 0.4% and visitors from the non-euro area EU28 countries fell by 13.6%. Specifically, the number of visitors from Germany decreased by 15.6% to 285 thousand, while visitors from France increased by 21.0% to 121 thousand. Visitors from the United Kingdom also increased, by 13.2% to 207 thousand. Finally, turning to non-EU28 countries, the number of visitors from the United States increased by 27.9% to 155 thousand, while visitors from Russia rose by 40.6% to 42 thousand.
Original source can be found here.