Developments in the balance of travel services: February 2018

23/04/2018 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services in February 2018 showed a deficit of €7 million, compared with a surplus of €20 million in February 2017. More specifically, travel receipts in February 2018 rose by 12.6% to €152 million from €135 million in February 2017, but this increase was more than offset by a 37.7% rise in travel payments (February 2018: €159 million, February 2017: €115 million). The increase in travel receipts is attributed to an 8.9% increase in inbound traveller flows, as well as to a rise of 3.4% or €10 in average expenditure per trip. It should be noted that the travel services deficit offset only a small part of the surplus in the rest of the services and had a negative effect on the total balance of goods and services.

In January-February 2018, the balance of travel services showed a surplus of €7 million, down from a surplus of €33 million in the same period of 2017. This development is attributed to the fact that the increase in travel receipts (by €12 million or 4.2%) was outweighed by a rise in travel payments (by €38 million or 14.7%). The rise in travel receipts reflected a 12.7% increase in inbound traveller flows, as average expenditure per trip fell by 7.6% to €279. Net receipts from travel services offset 0.2% of the goods deficit and accounted for 1.2% of total net receipts from services.

Travel receipts

In February 2018, as mentioned previously, travel receipts rose by 12.6% year-on-year. In more detail, receipts from residents of the EU28 increased by 1.9% to €80 million, whereas receipts from outside the EU28 rose by 27.6% (February 2018: €72 million, February 2017: €56 million). The higher receipts from within the EU28 were due to a 23.7% increase in receipts from residents of non-euro area EU28 countries (February 2018: €31 million, February 2017: €25 million), as receipts from euro area residents fell by 8.3% to €49 million. Breaking down receipts by visitor’s country of origin, receipts from Germany fell by 7.7% to €15 million, as did receipts from France, by 22.2% to €5 million. Receipts from the United Kingdom also decreased by 2.2% to €10 million. Turning to non-EU28 countries, receipts from Russia rose by 116.7% to €7 million, whereas receipts from the United States dropped by 61.9% to €5 million.

In January-February 2018, travel receipts increased by 4.2% year-on-year to €305 million. This development is attributed to increases in receipts from within the EU28 by 1.1% to €166 million and in receipts from outside the EU28 by 8.3% to €138 million. In particular, receipts from euro area residents fell by 12.2% to €100 million, whereas receipts from residents of non-euro area EU28 countries rose by 30.7% to €66 million. Specifically, receipts from France dropped by 13.4% to €8 million, as did receipts from Germany, by 8.6% to €35 million. Receipts from the United Kingdom also decreased, by 2.0% to €21 million. Turning to non-EU28 countries, receipts from Russia dropped by 22.0% to €7 million, while receipts from the United States also decreased, by 42.2% to €16 million.

Inbound traveller flows (1)

In February 2018, the number of inbound visitors rose by 8.9% year-on-year to 484 thousand. Specifically, visitor flows through airports increased by 8.9%, as did visitor flows through road border-crossing points, by 10.9%. This development is attributed to higher visitor flows from both within the EU28 (up 1.3%) and outside the EU28 (up 20.9%). In greater detail, the number of visitors from within the euro area rose by 5.2% to 134 thousand, whereas visitors from the non-euro area EU28 countries declined by 2.1% (February 2018: 141 thousand, February 2017: 144 thousand). Specifically, the number of visitors from Germany decreased by 2.0% to 47 thousand, while visitors from France increased by 1.9% to 11 thousand. Visitors from the United Kingdom fell by 27.0% to 25 thousand. Turning to non-EU28 countries, the number of visitors from Russia increased by 52.8% to 10 thousand, whereas the number of visitors from the United States dropped by 41.5% to 13 thousand.

In January-February 2018, the number of inbound visitors rose by 12.7% year-on-year to 1,088 thousand (January-February 2017: 965 thousand). Specifically, visitor flows through airports increased by 1.5%, while visitor flows through road border-crossing points also increased, by 30.2%. In the period under review, the number of visitors from within the EU28 rose by 12.3% year-on-year to 646 thousand, as did the number of visitors from outside the EU28, by 13.3% to 442 thousand. Visitors from within the euro area rose by 4.2%, while visitors from the non-euro area EU28 countries also increased, by 20.3%. Specifically, the number of visitors from France rose by 9.6% to 19 thousand, as did the number of visitors from Germany, by 10.3% to 108 thousand. Visitors from the United Kingdom decreased by 15.2% to 59 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia dropped by 33.2% to 11 thousand, while the number of visitors from the United States also fell, by 16.8% to 35 thousand.

Note: The next Press Release on “Developments in the balance of travel services” for March 2018 will be published on 22 May 2018.

(1) Inbound traveller flows exclude cruise passengers (other than those recorded in the Border Survey).