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Developments in the balance of travel services: September 2021

22/11/2021 - Press Releases

- The balance of travel services posted a surplus of €2,061 million in September 2021 and of €8,033 million in January-September 2021.

- Travel receipts rose by 150.8% in September 2021 and by 139.3% in January-September 2021.

- Inbound traveller flows increased by 124.4% in September 2021 and by 89.0% in January-September 2021.


Balance of travel services

Based on provisional data, the balance of travel services in September 2021 showed a surplus of €2,061 million, up from a surplus of €816 million in September 2020. More specifically, travel receipts rose by 150.8% to €2,176 million in September 2021 from €868 million in September 2020, while travel payments also increased by 120.1% (September 2021: €115 million, September 2020: €52 million). The rise in travel receipts resulted from a 124.4% increase in inbound traveller flows and a 10.7% rise in average expenditure per trip. Net receipts from travel services offset 89.6% of the goods deficit and contributed 85.9% to total net receipts from services.

In January-September 2021, the balance of travel services showed a surplus of €8,033 million, up from a surplus of €3,001 million in the corresponding period of 2020. Travel receipts rose by €5,097 million or 139.3% to €8,758 million, while travel payments increased by €66 million or 10.0% to €725 million. The rise in travel receipts was due to an 89.0% increase in inbound traveller flows, as well as to a rise of 25.5% in average expenditure per trip. Net receipts from travel services offset 45.1% of the goods deficit and contributed 77.6% to total net receipts from services.



Travel receipts

In September 2021, as previously mentioned, travel receipts rose by 150.8% year-on-year. In more detail, receipts from residents of EU27 countries increased by 123.4% to €1,348 million, while receipts from outside the EU27 increased by 206.1% (September 2021: €801 million, September 2020: €262 million). The rise in receipts from within the EU27 was due to increases in receipts from euro area residents by 108.6% to €1,088 million (September 2020: €521 million) as well as from residents of non-euro area EU27 countries by 216.9% to €260 million. Among major euro area countries of origin, receipts from Germany rose by 79.5% to €517 million and receipts from France increased by 132.1% to €177 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 110.9% to €398 million and receipts from the United States increased by 3,450.1% to €147 million. Receipts from Russia also increased, by 1,250.8% to €10 million.

In January-September 2021, travel receipts increased by 139.3% year-on-year to €8,758 million. This development was driven by a 140.5% increase in receipts from residents of the EU27, which rose to €5,813 million, and by a 124.0% rise in receipts from residents outside the EU27 to €2,773 million. In greater detail, receipts from euro area residents rose by 127.9% to €4,574 million, while receipts from residents of non-euro area EU27 countries increased by 202.0% to €1,239 million. In particular, receipts from Germany increased by 103.2% year-on-year to €1,781 million and receipts from France increased by 189.3% to €908 million. Turning to non-EU27 countries, receipts from the United Kingdom rose by 85.7% to €1,185 million, while receipts from the United States increased by 538.7% to €487 million. Receipts from Russia also increased, by 465.1% to €68 million.

Inbound traveller flows

The number of inbound travellers in September 2021 rose by 124.4% year-on-year to 2,995 thousand. Specifically, traveller flows through airports increased by 104.4% compared with September 2020 and traveller flows through road border-crossing points rose by 450.3%. This overall increase was due to higher traveller flows from both within the EU27 (up by 114.9%) and outside the EU27 (up by 147.4%). In greater detail, the number of travellers from within the euro area rose by 96.6% to 1,509 thousand, while travellers from non-euro area EU27 countries increased by 193.4% to 525 thousand. Specifically, the number of travellers from Germany increased by 80.4% to 680 thousand and travellers from France rose by 105.7% to 231 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 50.8% to 452 thousand, while the number of travellers from the United States increased by 2,068.9% to 85 thousand and from Russia by 1,474.4% to 13 thousand.

In January-September 2021, the number of inbound travellers rose by 89.0% to 11,619 thousand (January-September 2020: 6,147 thousand). Specifically, traveller flows through airports increased by 100.0%, as did traveller flows through road border-crossing points, by 57.4%. In the period under review, the number of travellers from within the EU27 rose by 101.4% year-on-year to 8,235 thousand and travellers from outside the EU27 increased by 64.4% to 3,384 thousand. The number of travellers from within the euro area rose by 107.8%, while travellers from non-euro area EU27 countries increased by 87.9%. Specifically, travellers from Germany increased by 100.6% to 2,213 thousand and travellers from France increased by 161.6% to 1,006 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 42.0% to 1,175 thousand, while the number of travellers from the United States increased by 206.2% to 296 thousand and from Russia by 188.6% to 67 thousand.



Note:

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

Related information:

The next Press Release on “Developments in the balance of travel services” for October 2021 will be published on 22 December 2021, in accordance with the Advance Release Calendar posted on the Bank of Greece website.

Related link:

Detailed and final data on the balance of travel services are published in the Travel services section of the Bank of Greece website.

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