Developments in the balance of travel services: February 2017

21/04/2017 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services in February 2017 showed a surplus of €48 million, compared with a surplus of €6 million in February 2016. More specifically, travel receipts decreased by 3.1% to €145 million in February 2017, from €150 million in the same month of 2016. Travel payments also fell by 32.5% (February 2017: €97 million, February 2016: €143 million). The drop in travel receipts resulted from a 5.5% decline in average expenditure per trip, as inbound traveller flows increased by 2.6%. Net receipts from travel services offset 3.0% of the goods deficit and accounted for 14.9% of total net receipts from services.

In January-February 2017, the balance of travel services showed a surplus of €64 million, up 41.1% from a surplus of €45 million in the same period of 2016. This development was driven by a decrease of €27 million or 9.9% in travel payments, as travel receipts dropped by €9 million or 2.7%. The fall in travel receipts resulted from a 2.8% decline in inbound traveller flows, as average expenditure per trip remained relatively unchanged at €317. Net receipts from travel services offset 2.1% of the goods deficit and accounted for 9.7% of total net receipts from services.

Travel receipts

In February 2017, as mentioned previously, travel receipts declined by 3.1% year-on-year. In more detail, receipts from residents of the EU28 remained relatively unchanged at €82 million, while receipts from outside the EU28 dropped by 7.1% (February 2017: €61 million, February 2016: €66 million). Underlying the relative stabilisation of receipts from within the EU28 was a 5.4% increase in receipts from euro area residents (February 2017: €53 million, February 2016: €51 million), which offset an 8.1% decline in receipts from residents of non-euro area EU28 countries. Breaking down receipts by visitor’s country of origin, receipts from Germany rose by 15.3% to €16 million, while those from France increased by 40.2% to €6 million. Receipts from the United Kingdom decreased by 5.2% to €13 million. Turning to non-EU28 countries, receipts from Russia rose by 8.3% to €4 million, while receipts from the United States increased by 49.2% to €15 million.

In January-February 2017, travel receipts decreased by 2.7%, relative to the same period of 2016, to €310 million. This development is attributed to lower receipts from outside the EU28 (down 6.8% to €138 million), as receipts from within the EU28 rose by 1.0% to €168 million. In particular, receipts from euro area residents increased by 6.0% to €112 million, while those from residents of non-euro area EU28 countries fell by 7.6% to €56 million. Specifically, receipts from Germany rose by 13.4% to €37 million and those from France dropped by 10.0% to €9 million. Receipts from the United Kingdom decreased by 3.9% to €25 million. Turning to non-EU28 countries, receipts from Russia rose by 76.1% to €10 million, while receipts from the United States increased by 26.4% to €28 million.

Inbound traveller flows (1)

The number of inbound visitors in February 2017 rose by 2.6% year-on-year to 444 thousand. Specifically, visitor flows through airports increased by 10.2%, while those through road border-crossing points declined by 6.2%. This development is attributed to higher visitor flows from within the EU28 (up 10.5%), as those from outside the EU28 fell by 7.8%. In greater detail, visitors from the euro area rose by 17.8% to 128 thousand and those from the non-euro area EU28 countries increased by 4.7% (February 2017: 144 thousand, February 2016: 138 thousand). Specifically, visitors from Germany increased by 50.2% to 48 thousand, while those from France fell by 14.4% to 11 thousand. Visitors from the United Kingdom rose by 16.3% to 34 thousand. Turning to non-EU28 countries, visitors from Russia dropped by 8.7% to 6 thousand, while visitors from the United States rose by 73.4% to 21 thousand.

In January-February 2017, the number of inbound visitors decreased by 2.8% to 965 thousand from 992 thousand in the same period of 2016. Specifically, visitor flows through airports increased by 15.4%, while those through road border-crossing points declined by 21.7%. In the period under review, visitors from within the EU28 increased by 2.2% year-on-year to 575 thousand, whereas those from outside the EU28 fell by 9.3% to 390 thousand. Visitors from the euro area rose by 24.9% and those from the non-euro area EU28 countries dropped by 13.3%. Specifically, visitors from Germany increased by 40.9% to 98 thousand, while those from France fell by 27.7% to 17 thousand. Visitors from the United Kingdom rose by 18.3% to 70 thousand. Finally, turning to non-EU28 countries, visitors from Russia increased by 74.6% to 17 thousand and those from the United States by 45.5% to 41 thousand.

Note: The next Press Release on “Developments in the balance of travel services” for March 2017 will be published on 23 May 2017.

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