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Developments in the balance of travel services – October 2015

22/12/2015 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services showed a surplus of €784 million in October 2015, down 5.4% from a surplus of €829 million in October 2014. More specifically, travel receipts fell by 4.1% to €961 million in October 2015, from €1,001 million in the same month of 2014. Travel payments increased by 2.6% (October 2015: €177 million, October 2014: €172 million). Lower travel receipts resulted mainly from a decrease of 4.7% in average expenditure per trip, as arrivals rose by 0.7%. Net receipts from travel services accounted for 66.8% of total net receipts from services and offset 59.8% of the goods deficit.

In January-October 2015, the balance of travel services showed a surplus of €11,858 million, up 5.0% from a surplus of €11,294 million in the same period of 2014. This development is attributed primarily to an increase of €528 million or 4.1% in travel receipts, and, to a lesser extent, to a decrease of €37 million or 2.2% in travel payments. Higher travel receipts were mainly due to increased arrivals (by 7.9%), as the average expenditure per trip decreased by 3.4%. Net receipts from travel services offset 93.3% of the goods deficit and accounted for 70.5% of total net receipts from services.

Travel receipts

In October 2015, as mentioned previously, travel receipts fell by 4.1% year-on-year. Looking at the breakdown by visitor’s country of origin, receipts from residents of the EU28 fell by 3.8% (October 2015: €623 million, October 2014: €648 million) and receipts from outside the EU28 dropped by 4.9% (October 2015: €281 million, October 2014: €295 million). Lower receipts from within the EU28 were due to a decrease of €30 million or 6.6% in receipts from euro area residents, as receipts from residents of non-euro area EU28 countries rose by 3.0% (October 2015: €200 million, October 2014: €195 million). Among major countries of origin, receipts from Germany dropped by 3.3% to €221 million and those from France by 6.1% to €74 million. Receipts from the United Kingdom also dropped, by 4.0% to €120 million (October 2014: €125 million). Turning to non-EU28 countries, receipts from Russia fell by 41.3% to €26 million, while receipts from the United States increased by 19.6% to €61 million.

In January-October 2015, travel receipts increased by 4.1% year-on-year to €13,530 million. This development is attributed to higher receipts from within the EU28 (up 9.4% to €8,797 million), as receipts from outside the EU28 dropped by 4.8% to €4,365 million. In particular, receipts from euro area residents increased by 5.5% to €5,631 million and receipts from residents of non-euro area EU28 countries rose by 16.9% to €3,167 million. Specifically, receipts from Germany rose by 6.2% to €2,080 million and those from France by 2.4% to €1,143 million. Receipts from the United Kingdom also increased, by 22.8% to €1,869 million. Turning to non-EU28 countries, receipts from Russia fell by 68.0% to €368 million, while receipts from the United States increased by 36.9% to €866 million.

Inbound traveller flows (1

The number of inbound visitors in October 2015 rose by 0.7% year-on-year to 1,853 thousand. This development was due to a 0.3% increase in arrivals from within the EU28 and a 1.5% increase in arrivals from outside the EU28. In greater detail, arrivals from the euro area fell by 2.3% to 761 thousand, whereas arrivals from the non-euro area EU28 countries increased by 4.2% (October 2015: 534 thousand, October 2014: 513 thousand). Specifically, arrivals from Germany dropped by 5.2% to stand at 346 thousand, while arrivals from France rose by 18.7% to 149 thousand. Arrivals from the United Kingdom fell by 12.5% to 193 thousand. Turning to non-EU28 countries, arrivals from Russia fell by 24.0% to stand at 54 thousand, while arrivals from the United States also dropped, by 31.6% to 51 thousand.

The number of inbound visitors in January-October 2015 increased by 7.9% to 22,470 thousand (January-October 2014: 20,828 thousand). In the period under review, arrivals from within the EU28 rose by 15.4% year-on-year to 14,416 thousand, whereas arrivals from outside the EU28 dropped by 3.3% to 8,054 thousand. Arrivals from the euro area rose by 10.2% and those from the non-euro area EU28 countries by 22.4%. More specifically, arrivals from Germany and France increased by 14.3% and 3.5% to 2,733 and 1,491 thousand, respectively, while arrivals from the United Kingdom rose by 14.2% to 2,317 thousand. Finally, turning to non-EU28 countries, arrivals from Russia fell by 59.9% to 495 thousand, while those from the United States increased by 26.4% to 710 thousand.
 
(1) Inbound traveller flows exclude cruise passengers (apart from those recorded in the Border Survey).

Related link: Developments in the balance of travel services – October 2015 - Table

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