Developments in the balance of travel services: March 2025
22/05/2025 - Press Releases
- The balance of travel services posted a surplus of €220.9 million in March 2025 and a surplus of €398.4 million in January-March 2025.
- Travel receipts rose by 5.1% in March 2025 and by 4.4% in January-March 2025.
- Inbound traveller flows increased by 5.4% in both March 2025 and January-March 2025.
Balance of travel services
Based on provisional data, the balance of travel services in March 2025 showed a surplus of €220.9 million from a surplus of €233.9 million in March 2024. More specifically, in March 2025, travel receipts rose by 5.1% to €473.4 million, up from €450.5 million in March 2024, while travel payments also increased by 16.6% (March 2025: €252.6 million, March 2024: €216.6 million). The rise in travel receipts stemmed from a 5.4% increase in inbound traveller flows, as average expenditure per trip declined by 0.6%. Net travel receipts offset 7.1% of the goods deficit and accounted for 55.8% of total net receipts from services.
In January-March 2025, the balance of travel services showed a surplus of €398.4 million, down from a surplus of €471.2 million in the same period of 2024. Travel receipts rose by €45.7million, or 4.4%, to €1,072.7 million, while travel payments also increased by €118.4million, or 21.3%, to €674.3 million. The rise in travel receipts was driven by a 5.4% increase in inbound traveller flows, as average expenditure per trip fell by 1.1%. Net travel receipts offset 4.7% of the goods deficit and contributed 41.6% to total net receipts from services.
Travel receipts
In March 2025, as mentioned previously, travel receipts grew by 5.1% year-on-year. In more detail, receipts from residents of the EU27 increased by 11.1% to €237.7 million, whereas receipts from residents of other countries decreased by 1.4% (March 2025: €215.2 million, March 2024: €218.2 million). The rise in receipts from within the EU27 was due to increases in receipts from euro area residents by 1.3% to €193.4 million (March 2024: €190.9 million) and in receipts from residents of non-euro area EU27 countries by 92.7% to €44.4 million.
More specifically, among major euro area countries of origin, receipts from Germany dropped by 27.1% to €52.8 million, as did receipts from France by 13.2% to €14.1 million. Receipts from Italy increased by 28.1% to €32.8 million. Turning to other countries, receipts from the United Kingdom declined by 2.7% to €26.4 million, while receipts from the United States decreased by 29.8% to €55.7 million. Lastly, receipts from Russia also fell, by 74.9% to €0.4 million.
In January-March 2025, travel receipts totalled €1,072.7 million, up by 4.4% year-on-year. This development is attributed to increases in receipts from residents of the EU27 by 0.3% to €519.9million and in receipts from residents of other countries by 8.5% to €526.1 million. In greater detail, receipts from euro area residents fell by 0.6% to €434.2 million, whereas receipts from residents of non-euro area EU27 countries increased by 5.1% to €85.7 million.
Specifically, receipts from Germany dropped by 16.3% to €113.9 million and receipts from France declined by 34.4% to €32.0 million. Receipts from Italy increased by 33.5% to €76.5 million. Turning to other countries, receipts from the United Kingdom grew by 17.8% to €72.0 million, while receipts from the United States increased by 4.5% to €143.8 million. Lastly, receipts from Russia stood at €2.0 million.
Inbound traveller flows
The number of inbound travellers in March 2025 rose by 5.4% year-on-year to 921.5 thousand. Specifically, traveller flows through airports increased by 17.0% year-on-year, whereas traveller flows through road border-crossing points decreased by 12.0%. This overall increase was due to higher traveller flows from both EU27 countries (up by 1.4%) and other countries (up by 9.4%). In greater detail, the number of travellers from within the euro area rose by 15.1% to 324.3 thousand, whereas travellers from non-euro area EU27 countries declined by 24.6% to 112.9 thousand.
Specifically, the number of travellers from Germany rose by 16.3% to 83.3 thousand, whereas the number of travellers from France decreased by 54.6% to 21.9 thousand. Travellers from Italy increased by 10.5% to 46.8 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 17.1% to 62.7 thousand, while travellers from the United States also increased by 19.9% to 79.9 thousand. Finally, the number of travellers from Russia increased by 2.7% to 1.3 thousand.
In January-March 2025, the number of inbound travellers rose by 5.4% to 2,459.0 thousand (January-March 2024: 2,332.5 thousand). Specifically, traveller flows through airports increased by 14.1%, whereas traveller flows through road border-crossing points decreased by 8.1%. In the period under review, the number of travellers from within the EU27 fell by 0.7% year-on-year to 1,179.1 thousand, whereas travellers from other countries increased by 11.7% to 1,279.9 thousand. The number of travellers from within the euro area rose by 14.2%, whereas travellers from non-euro area EU27 countries decreased by 30.7%.
Specifically, the number of travellers from Germany rose by 19.6% to 244.5 thousand, whereas the number of travellers from France fell by 48.7% to 60.6 thousand. Travellers from Italy increased by 21.4% to 127.6 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 41.8% to 167.5 thousand, while the number of travellers from the United States grew by 16.2% to 188.7 thousand. Lastly, the number of travellers from Russia stood at 1.9 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 April 2025 will be published on 23 June 2025, in accordance with the 2025 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.