Developments in the balance of travel services: May 2017
24/07/2017 - Press Releases
Balance of travel services
Based on provisional data, in May 2017 the balance of travel services showed a surplus of €926 million, up 2.5% from a surplus of €903 million in May 2016. More specifically, travel receipts rose by 1.7% to €1,094 million in May 2017, from €1,075 million in the same month of 2016, while travel payments decreased by 2.6% (May 2017: €168 million, May 2016: €172 million). The rise in travel receipts was due to a 1.5% increase in inbound traveller flows, as average expenditure per trip remained practically unchanged at €523. Net receipts from travel services offset 61.0% of the goods deficit and accounted for 70.9% of total net receipts from services.
In January-May 2017, the balance of travel services showed a surplus of €1,259 million, up 1.3% from a surplus €1,243 million in the same period of 2016. This development was driven by an increase of €18 million or 0.9% in travel receipts, as travel payments rose by €1 million or 0.1%. The rise in travel receipts is attributed to a 2.4% increase in inbound traveller flows, as average expenditure per trip fell by 1.5% to €430. Net receipts from travel services offset 16.2% of the goods deficit and accounted for 43.0% of total net receipts from services.
Travel receipts
In May 2017, as mentioned previously, travel receipts rose by 1.7% year-on-year. In more detail, receipts from residents of the EU28 increased by 2.8% to €740 million, whereas receipts from outside the EU28 dropped by 1.5% (May 2017: €295 million, May 2016: €300 million). The rise in receipts from within the EU28 was due to a 10.2% increase in receipts from residents of non-euro area EU28 countries (May 2017: €263 million, May 2016: €239 million), as receipts from euro area residents fell by 0.8% to €477 million. Breaking down receipts by visitor’s country of origin, receipts from France dropped by 12.0% to €86 million, while receipts from Germany rose by 10.6% to €227 million. Receipts from the United Kingdom also increased, by 22.5% to €183 million. Turning to non-EU28 countries, receipts from Russia rose by 7.9% to €27 million, while receipts from the United States fell by 34.4% to €52 million.
In January-May 2017, travel receipts increased by 0.9% year-on-year to €2,067 million. This development is attributed to a 5.4% rise in receipts from within the EU28 to €1,285 million, as receipts from outside the EU28 fell by 6.4% to €689 million. In particular, receipts from euro area residents increased by 11.4% to €864 million, whereas receipts from residents of non-euro area EU28 countries dropped by 5.2% to €420 million. Specifically, receipts from France rose by 19.4% to €168 million and those from Germany also rose, by 14.4% to €341 million. Receipts from the United Kingdom decreased by 0.7% to €253 million. Turning to non-EU28 countries, receipts from Russia dropped by 1.5% to €48 million, as did receipts from the United States, by 30.8% to €129 million.
Inbound traveller flows (1)
Ιn May 2017, the number of inbound visitors rose by 1.5% year-on-year to 1,982 thousand. Specifically, visitor flows through airports increased by 6.1%, while visitor flows through road border-crossing points declined by 11.5%. This development is attributed to a 2.6% rise in visitor flows from within the EU28, as visitor flows from outside the EU28 declined by 1.2%. In greater detail, visitors from the euro area increased by 7.2% to 839 thousand, while visitors from the non-euro area EU28 countries declined by 3.3% (May 2017: 598 thousand, May 2016: 618 thousand). Specifically, visitors from France decreased by 2.6% to 144 thousand, while visitors from Germany increased by 10.6% to 345 thousand. Visitors from the United Kingdom also rose, by 14.0% to 284 thousand. Turning to non-EU28 countries, the number of visitors from Russia decreased by 6.1% to 40 thousand, as did the number of visitors from the United States, by 35.0% to 58 thousand.
In January-May 2017, the number of inbound visitors increased by 2.4% to 4,584 thousand (January-May 2016: 4,475 thousand). Specifically, visitor flows through airports increased by 8.4%, while visitor flows through road border-crossing points declined by 9.0%. In the period under review, visitors from within the EU28 increased by 6.1% year-on-year to 3,010 thousand, whereas visitors from outside the EU28 decreased by 4.0% to 1,574 thousand. Visitors from the euro area rose by 18.7%, while visitors from the non-euro area EU28 countries declined by 5.8%. Specifically, the number of visitors from France increased by 13.7% to 263 thousand, as did the number of visitors from Germany, by 20.8% to 591 thousand. Visitors from the United Kingdom also increased slightly, by 0.2% to 456 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia decreased by 5.5% to 78 thousand, as did the number of visitors from the United States, by 18.2% to 175 thousand.
Note: The next Press Release on “Developments in the balance of travel services” for June 2017 will be published on 22 August 2017.
Related link: Developments in the balance of travel services: May 2017 - Table