Bank of Greece issued the following announcement on Oct. 22

Based on provisional data, the balance of travel services showed a surplus of €3,927 million in August 2019, compared with a surplus of €3,432 million in the same month of 2018. More specifically, travel receipts in August 2019 rose by 16.1% to €4,183 million, from €3,601 million in August 2018, while travel payments also increased by 50.6% (August 2019: €255 million, August 2018: €170 million). The rise in travel receipts is attributed to a 4.8% year-on-year increase in average expenditure per trip, as well as to a rise of 11.0% in inbound traveller flows. Net receipts from travel services accounted for 87.0% of total net receipts from services and more than offset (210.2%) the goods deficit.

In January-August 2019, the balance of travel services showed a surplus of €11,402 million, up from a surplus of €10,225 million in the same period of 2018. This development is attributed to an increase, by 13.6% or €1,583 million, in travel receipts, which were only partly offset by travel payments, up by 28.3% or €406 million. The rise in travel receipts is attributed to a 9.8% increase in average expenditure per trip, as well as to a rise of 3.6% in inbound traveller flows. Net receipts from travel services offset 73.7% of the goods deficit and accounted for 74.8% of total net receipts from services.

Travel receipts

In August 2019, as mentioned previously, travel receipts rose by 16.1% year-on-year. In more detail, receipts from residents of the EU28 increased by 17.6% to €3,051 million, while receipts from outside the EU28 rose by 12.6% (August 2019: €1,059 million, August 2018: €941 million). The rise in receipts from within the EU28 was due to increases in receipts from euro area residents by 4.8% (August 2019: €1,838 million, August 2018: €1,754 million) and in receipts from residents of non-euro area EU28 countries by 44.4% to €1,213 million. Among major countries of origin, receipts from Germany decreased by 8.3% to €549 million, whereas receipts from France increased by 7.9% to €287 million. Receipts from the United Kingdom also increased by 54.7% to €637 million. Turning to non-EU28 countries, receipts from the United States rose by 12.1% to €186 million, while receipts from Russia increased by 87.5% to €113 million.

In January-August 2019, travel receipts totalled €13,242 million, up by 13.6% relative to the same period of 2018. This development was driven by a 12.7% increase in receipts from residents of the EU28, which came to €9,145 million, and by a 16.5% rise in receipts from residents outside the EU28 to €3,788 million. In particular, receipts from euro area residents increased by 8.5% to €5,651 million, while receipts from residents of non-euro area EU28 countries increased by 20.2% to €3,494 million. Specifically, receipts from Germany fell by 4.8% to €1,961 million, while receipts from France rose by 13.5% to €825 million. Receipts from the United Kingdom also increased, by 33.6% to €1,949 million. Turning to non-EU28 countries, receipts from the United States increased by 13.3% to €763 million and receipts from Russia increased by 20.4% to €313 million.

Inbound traveller flows[1]

The number of inbound visitors in August 2019 stood at 6,762 thousand, compared with 6,093 thousand in August 2018. Specifically, visitor flows through airports increased by 1.8%, while visitor flows through road border-crossing points increased by 29.8%. This increase in flows was due to higher visitor flows from both within the EU28 (up 13.3%) and outside the EU28 (up 4.8%). In greater detail, the number of visitors from within the euro area fell by 8.5% to 2,310 thousand, whereas visitors from the non-euro area EU28 countries increased by 42.6% (August 2019: 2,695 thousand, August 2018: 1,890 thousand). Specifically, the number of visitors from Germany decreased by 7.1% to 718 thousand, while visitors from France fell by 4.6% to 338 thousand. By contrast, visitors from the United Kingdom rose by 40.0% to 741 thousand. Turning to non-EU28 countries, visitors from the United States increased by 29.6% to 192 thousand, while visitors from Russia also increased by 33.8% to 129 thousand.

In January-August 2019, the number of inbound visitors rose by 3.6% to 21,842 thousand (January-August 2018: 21,088 thousand). Specifically, visitor flows through airports increased by 2.4% and visitor flows through road border-crossing points increased by 5.6%. In the period under review, the number of visitors from within the EU28 increased by 2.7% year-on-year to 15,402 thousand, while the number of visitors from outside the EU28 increased by 5.8% to 6,440 thousand. Visitors from within the euro area declined by 3.2%, whereas visitors from the non-euro area EU28 countries rose by 9.5%. Specifically, the number of visitors from Germany decreased by 8.5% to 2,659 thousand, whereas visitors from France increased by 3.7% to 1,151 thousand. Visitors from the United Kingdom also rose by 19.3% to 2,486 thousand. Finally, turning to non-EU28 countries, the number of visitors from the United States increased by 11.1% to 787 thousand, while visitors from Russia rose by 3.8% to 388 thousand.

Original source can be found here.