Developments in the Balance of Travel Services: May 2025
22/07/2025 - Press Releases
- The balance of travel services posted a surplus of €1,875.8 million in May 2025 and a surplus of €3,006.9 million in January-May 2025.
- Travel receipts rose by 17.7% in May 2025 and by 12.7% in January-May 2025.
- Inbound traveller flows fell by 2.7% in May 2025, but increased by 2.1% in January-May 2025.
Balance of travel services
Based on provisional data, the balance of travel services in May 2025 showed a surplus of €1,875.8 million, up from a surplus of €1,623.9 million in May 2024. More specifically, travel receipts in May 2025 rose by 17.7% to €2,247.8 million, from €1,909.6 million in May 2024, while travel payments also increased by 30.2% (May 2025: €372.0 million; May 2024: €285.7 million). The rise in travel receipts mainly reflected a 21.1% increase in average expenditure per trip, as inbound traveller flows decreased by 2.7%. Net receipts from travel services offset 79.4% of the goods deficit and accounted for 84.9% of total net receipts from services.
In January-May 2025, the balance of travel services showed a surplus of €3,006.9 million, up from a surplus of €2,761.1 million in the same period of 2024. Travel receipts rose by €491.9 million, or 12.7%, to €4,352.2 million, while travel payments also grew by €246.1 million, or 22.4%, to €1,345.3 million. The rise in travel receipts was driven by a 2.1% increase in inbound traveller flows and by a 10.4% rise in average expenditure per trip. Net receipts from travel services offset 21.9% of the goods deficit and accounted for 72.9% of total net receipts from services.
Travel receipts
In May 2025, as mentioned previously, travel receipts rose by 17.7% year-on-year. In more detail, receipts from residents of the EU27 increased by 25.8% to €1,325.0 million, as did receipts from residents of other countries, by 6.7% (May 2025: €800.0 million, May 2024: €749.4 million). The rise in receipts from within the EU27 was driven by increases of 15.1% in receipts from euro area residents (May 2025: €1,035.7 million, May 2024: €900.0 million), as well as in receipts from residents of non-euro area EU27 countries by 88.6% to €289.2 million.
More specifically, among major euro area countries of origin, receipts from Germany rose by 16.1% to €473.5 million, as did receipts from France, by 9.9% to €153.3 million. Receipts from Italy also grew by 14.0% to €62.6 million. Turning to other countries, receipts from the United Kingdom rose by 8.9% to €314.1 million, while receipts from the United States dropped by 28.0% to €112.5 million. Receipts from Russia also increased to €5.2 million.
In January-May 2025, travel receipts totalled €4,352.2 million, up by 12.7% year-on-year. This development is due to increases in receipts from EU27 residents by 10.9% to €2,326.7 million and in receipts from residents of other countries by 15.1% to €1,813.0 million. In greater detail, receipts from euro area residents rose by 3.6% to €1,879.8 million, while receipts from residents of non-euro area EU27 countries increased by 57.2% to €446.9 million.
Specifically, receipts from Germany rose by 9.9% to €771.7 million, whereas receipts from France dropped by 7.8% to €263.9 million. Receipts from Italy also fell by 4.8% to €164.7 million. Turning to other countries, receipts from the United Kingdom grew by 13.3% to €480.6 million, as did receipts from the United States, by 15.9% to €457.0 million. Lastly, receipts from Russia increased to €7.9 million.
Inbound traveller flows
The number of inbound travellers in May 2025 fell by 2.7% year-on-year to 2,967.0 thousand. Specifically, traveller flows through airports increased by 1.0% year-on-year, while traveller flows through road border-crossing points dropped by 21.5%. The decrease in the number of inbound travellers was driven by a decline in inbound traveller flows from EU27 countries by 4.8%, as the number of inbound travellers from other countries rose by 0.8%. In greater detail, the number of travellers from within the euro area dropped by 4.5% to 1,406.2 thousand, while the number of travellers from non-euro area EU27 countries also declined by 6.2% to 365.3 thousand.
Specifically, the number of travellers from Germany decreased by 0.1% to 604.7 thousand, as did the number of travellers from France, by 30.8% to 177.6 thousand. Travellers from Italy also fell by 12.9% to 113.6 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom decreased by 9.1% to 416.2 thousand, as did that of travellers from the United States, by 0.9% to 123.9 thousand. Lastly, the number of travellers from Russia rose to 4.7 thousand.
In January-May 2025, the number of inbound travellers rose by 2.1% to 7,089.2 thousand (January-May 2024: 6,943.9 thousand). Specifically, traveller flows through airports increased by 6.0%, whereas traveller flows through road border-crossing points declined by 9.2%. In the period under review, the number of travellers from within the EU27 fell by 5.1% year-on-year to 3,812.5 thousand. By contrast, the number of travellers from other countries grew by 12.0% to 3,276.7 thousand. The number of visitors from within the euro area fell by 0.5%, while visitors from non-euro area EU27 countries dropped by 19.3%.
Specifically, the number of travellers from Germany rose by 1.5% to 1,080.2 thousand, whereas the number of travellers from France fell by 27.1% to 342.2 thousand. Travellers from Italy also decreased by 11.7% to 311.9 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 6.7% to 710.8 thousand, as did the number of travellers from the United States, by 18.1% to 463.4 thousand. Lastly, the number of travellers from Russia rose to 7.5 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 June 2025 will be published on 21 August 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.