Developments in the balance of travel services: November 2025
21/01/2026 - Press Releases
- The balance of travel services posted a surplus of €505.2 million in November 2025 and a surplus of €19,942.1 million in January-November 2025.
- Travel receipts rose by 27.7% in November 2025 and by 8.9% in January-November 2025.
- Inbound traveller flows increased by 9.7% in November 2025 and by 4.6% in January‑November 2025.
Balance of travel services
Based on provisional data, the balance of travel services in November 2025 showed a surplus of €505.2 million, up by 34.8% from a surplus of €374.8 million in November 2024. More specifically, travel receipts rose by 27.7% to €726.3 million in November 2025, from €568.9 million in November 2024, while travel payments also increased by 13.9% (November 2025: €221.0 million, November 2024: €194.1 million). The rise in travel receipts stemmed from both a 9.7% increase in inbound traveller flows and a 17.2% rise in average expenditure per trip. Net travel receipts offset 18.1% of the goods deficit and contributed 74.8% to total net receipts from services.
In January-November 2025, the balance of travel services showed a surplus of €19,942.1 million, up from a surplus of €18,616.3 million in the corresponding period of 2024. Travel receipts rose by €1,879.3 million, or 8.9%, to €23,003.0 million, while travel payments also increased by €553.5 million, or 22.1%, to €3,060.9 million. The rise in travel receipts was driven by a 4.6% increase in inbound traveller flows and a 4.4% rise in average expenditure per trip. Net travel receipts offset 65.9% of the goods deficit and contributed 89.3% to total net receipts from services.
Travel receipts
In November 2025, as previously mentioned, travel receipts rose by 27.7% year-on-year. In more detail, receipts from residents of the EU27 rose by 40.2% to €331.9 million, as did receipts from residents of other countries, by 19.5% (November 2025: €364.0 million, November 2024: €304.7 million). The rise in receipts from within the EU27 was due to increases in receipts from euro area residents by 54.1% to €266.2 million (November 2024: €172.8 million) and in receipts from residents of non-euro area EU27 countries by 2.8% to €65.6 million.
Specifically, among major euro area countries of origin, receipts from Germany rose by 85.1% to €80.5 million. Receipts from France also increased by 125.2% to €45.7 million, while receipts from Italy grew by 1.5% to €27.8 million. Turning to other countries, receipts from the United Kingdom increased by 18.6% to €52.5 million, whereas receipts from the United States decreased by 33.3% to €71.6 million. Lastly, receipts from Russia rose to €1.4 million.
In January-November 2025, travel receipts totalled €23,003.0 million, up by 8.9% year‑on‑year. This development is attributed to increases in receipts from EU27 residents by 6.0% to €12,400.8 million and in receipts from residents of other countries by 13.5% to €9,568.5 million. In greater detail, receipts from euro area residents rose by 4.3% to €9,641.7 million and receipts from residents of non-euro area EU27 countries increased by 12.2% to €2,759.1 million.
Specifically, receipts from Germany grew by 2.4% to €3,723.7 million, as did receipts from France, by 6.2% to €1,317.8 million. Receipts from Italy also increased, by 4.2% to €1,256.2 million. Turning to other countries, receipts from the United Kingdom grew by 17.0% to €3,660.6 million, while receipts from the United States increased by 8.5% to €1,662.3 million. Lastly, receipts from Russia rose to €23.8 million.
Inbound traveller flows
The number of inbound travellers in November 2025 rose by 9.7% year-on-year to 1,405.0 thousand. Specifically, traveller flows through airports increased by 15.9% year‑on‑year, while traveller flows through road border-crossing points remained relatively stable. The overall increase was due to higher traveller flows from both EU27 countries (up by 11.1%) and other countries (up by 8.3%). In greater detail, the number of travellers from within the euro area rose by 36.5% to 506.3 thousand, whereas travellers from non-euro area EU27 countries decreased by 25.3% to 192.6 thousand.
Specifically, the number of travellers from Germany rose by 47.1% to 161.1 thousand, while travellers from France also increased by 89.6% to 72.4 thousand. Travellers from Italy decreased by 19.0% to 45.4 thousand. Turning to other countries, the number of travellers from the United Kingdom dropped by 6.9% to 91.6 thousand, as did the number of travellers from the United States by 16.7% to 92.5 thousand. Lastly, the number of travellers from Russia rose to 1.0 thousand.
In January-November 2025, the number of inbound travellers rose by 4.6% to 36,666.1 thousand (January-November 2024: 35,069.0 thousand). Specifically, traveller flows through airports increased by 4.9%, while traveller flows through road border-crossing points grew by 4.6%. In the period under review, the number of travellers from within the EU27 rose by 1.6% year-on-year to 21,709.5 thousand, as did the number of travellers from other countries, by 9.1% to 14,956.6 thousand. Travellers from within the euro area increased by 6.8%, whereas travellers from non-euro area EU27 countries declined by 8.4%.
Specifically, the number of travellers from Germany rose by 9.1% to 5,815.3 thousand, whereas the number of travellers from France fell by 0.2% to 1,947.3 thousand. Travellers from Italy increased by 7.4% to 2,141.0 thousand. Turning to other countries, the number of travellers from the United Kingdom rose by 6.3% to 4,776.0 thousand, as did the number of travellers from the United States, by 0.6% to 1,490.0 thousand. Lastly, the number of travellers from Russia grew to 21.5 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 December 2025 will be published on 24 February 2026, 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.