Developments in the balance of travel services: March 2018

22/05/2018 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services in March 2018 showed a surplus of €79 million, compared with a surplus of €53 million in March 2017. More specifically, travel receipts in March 2018 rose by 28.2% to €252 million from €197 million in March 2017, but this increase was partly offset by a 20.7% rise in travel payments (March 2018: €173 million, March 2017: €143 million). The increase in travel receipts is attributed to a 12.8% increase in inbound traveller flows, as well as to a rise of 14.9% or €45 in average expenditure per trip. Net receipts from travel services offset 5.3% of the goods deficit and accounted for 26.4% of total net receipts from services.

In January-March 2018, the balance of travel services showed a surplus of €86 million, unchanged from the same period of 2017. This development was due to the fact that both travel receipts and payments increased by €68 million (or by 13.9% and 16.9%, respectively). The rise in travel receipts was driven mainly by a 12.8% increase in inbound traveller flows, as well as by a rise of 1.3% or €4 in average expenditure per trip. Net receipts from travel services offset 1.8% of the goods deficit and accounted for 10.2% of total net receipts from services.

Travel receipts

In March 2018, as mentioned previously, travel receipts rose by 28.2% year-on-year. In more detail, receipts from residents of the EU28 increased by 47.3% to €152 million, whereas receipts from outside the EU28 rose by 8.6% (March 2018: €94 million, March 2017: €87 million). The higher receipts from within the EU28 were due to increases in receipts from residents of non-euro area EU28 countries by 30.8% to €48 million (March 2017: €37 million) and in receipts from euro area residents by 56.4% to €104 million. Breaking down receipts by visitor’s country of origin, receipts from Germany rose by 92.1% to €37 million, as did receipts from France, by 40.2% to €9 million. Receipts from the United Kingdom also increased, by 73.0% to €21 million. Turning to non-EU28 countries, receipts from Russia dropped by 58.2% to €2 million, while receipts from the United States also decreased, by 27.5% to €18 million.

In January-March 2018, travel receipts increased by 13.9% year-on-year to €557 million. This development is attributed to increases in receipts from within the EU28 by 18.9% to €318 million and in receipts from outside the EU28 by 8.4% to €232 million. In particular, receipts from euro area residents increased by 13.2% to €204 million, as did receipts from residents of non-euro area EU28 countries, by 30.8% to €114 million. Specifically, receipts from France rose by 8.9% to €16 million, while receipts from Germany also increased, by 25.7% to €72 million. Receipts from the United Kingdom also increased, by 24.8% to €42 million. Turning to non-EU28 countries, receipts from Russia dropped by 35.3% to €9 million, while receipts from the United States also decreased, by 35.3% to €34 million.

Inbound traveller flows(1)

In March 2018, the number of inbound visitors rose by 12.8% year-on-year to 708 thousand. Specifically, visitor flows through airports increased by 21.9%, as did visitor flows through road border-crossing points, by 3.4%. This development is attributed to higher visitor flows from both within the EU28 (up 11.6%) and outside the EU28 (up 14.8%). In greater detail, the number of visitors from within the euro area rose by 35.5% to 227 thousand, whereas visitors from the non-euro area EU28 countries declined by 7.1% (March 2018: 199 thousand, March 2017: 214 thousand). Specifically, the number of visitors from Germany rose by 55.6% to 88 thousand, while visitors from France also increased, by 73.9% to 20 thousand. Visitors from the United Kingdom rose by 98.2% to 42 thousand. Turning to non-EU28 countries, the number of visitors from Russia fell by 43.9% to 5 thousand, as did the number of visitors from the United States, by 9.1% to 36 thousand.

In January-March 2018, the number of inbound visitors rose by 12.8% year-on-year to 1,796 thousand (January-March 2017: 1,592 thousand). Specifically, visitor flows through airports increased by 8.9%, as did visitor flows through road border-crossing points, by 18.6%. In the period under review, the number of visitors from within the EU28 rose by 12.0% year-on-year to 1,071 thousand, as did the number of visitors from outside the EU28, by 13.9% to 725 thousand. Visitors from within the euro area rose by 15.8%, while visitors from the non-euro area EU28 countries also increased, by 8.7%. Specifically, the number of visitors from France rose by 35.6% to 39 thousand, as did the number of visitors from Germany, by 26.9% to 196 thousand. Visitors from the United Kingdom increased by 11.0% to 101 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia dropped by 36.6% to 16 thousand, while the number of visitors from the United States also fell, by 13.0% to 71 thousand.

Note: The next Press Release on “Developments in the balance of travel services” for April 2018 will be published on 21 June 2018.

(1) Inbound traveller flows exclude cruise passengers (other than those recorded in the Border Survey).