Developments in the balance of travel services

Developments in the balance of travel services – May 2015

22/07/2015 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services showed a surplus of €997 million in May 2015, compared with a surplus of €873 million in May 2014. More specifically, travel receipts rose by €177 million or 17.0% to €1,215 million in May 2015, from €1,038 million in May 2014. Travel payments increased by 31.7% (May 2015: €218 million, May 2014: €166 million). Higher travel receipts resulted mainly from an increase of 13.2% in arrivals and a rise of 4.3% in average expenditure per trip. Net receipts from travel services accounted for 58.3% of total net receipts from services and more than offset (101.2%) the goods deficit.

In January-May 2015, the balance of travel services showed a surplus of €1,389 million, up 20.6% from €1,151 million in the same period of 2014. This development is attributed to an increase of €288 million or 15.0% in travel receipts, which outweighed an increase of €51 million or 6.6% in travel payments. Higher travel receipts were mainly due to increased arrivals (by 27.1%), as the average expenditure per trip decreased by 8.7%. Net receipts from travel services offset 20.4% of the goods deficit and accounted for 32.3% of total net receipts from services.

Travel receipts

In May 2015, as mentioned previously, travel receipts rose by 17.0% year-on-year. Looking at the breakdown by visitor’s country of origin, receipts from residents of the EU28 increased by 28.2% (May 2015: €804 million, May 2014: €627 million). Receipts from outside the EU28 rose by 0.7% (May 2015: €367 million, May 2014: €365 million). The increase in receipts from within the EU28 is attributed primarily to a rise of €107 million or 57.5% in receipts from non-euro area residents and, to a lesser extent, to an increase of 15.8% in receipts from euro area residents (May 2015: €511 million, May 2014: €441 million). Breaking down receipts by visitor’s country of origin, receipts from Germany rose by 28.1% to €208 million, while those from France increased by 19.2% to €130 million. Receipts from the United Kingdom increased by 76.6% to €218 million (May 2014: €124 million). Turning to non-EU28 countries, receipts from Russia fell by 66.3% to €28 million, while those from the United States increased by 10.5% to €88 million.

In January-May 2015, travel receipts increased by 15.0% year-on-year to €2,208 million. This development is attributed mainly to higher receipts from within the EU28 (up 24.3% to €1,341 million) and, to a lesser extent, from outside the EU28 (up 4.3% to €788 million). In particular, receipts from euro area residents increased by 12.2% to €832 million, while receipts from residents of non-euro area EU28 countries rose by 51.0% to €509 million. Specifically, receipts from Germany rose by 20.0% to €318 million, while those from France rose by 14.2% to €177 million. Receipts from the United Kingdom also increased by 68.1% to €325 million. Turning to non-EU28 countries, receipts from Russia fell by 58.0% to €50 million, while receipts from the United States rose by 15.1% to €156 million.

Inbound traveller flows (1)

The number of inbound visitors in May 2015 rose by 13.2% year-on-year to 1,870 thousand. This development mainly reflects a 25.3% increase in arrivals from within the EU28, as arrivals from outside the EU28 decreased by 7.7%. In greater detail, arrivals from the euro area increased by 14.0% to 755 thousand. Arrivals from the non-euro area EU28 countries also rose by 44.7% (May 2015: 557 thousand, May 2014: 385 thousand). Specifically, arrivals from Germany rose by 28.7%, while arrivals from France dropped by 1.4%. Arrivals from the United Kingdom rose by 46.6% to 258 thousand. Turning to non-EU28 countries, arrivals from Russia fell by 67.2% to 36 thousand, while those from the United States rose by 21.3% to 80 thousand.

The number of inbound visitors in January-May 2015 increased by 27.1% to 4,533 thousand (January-May 2014: 3,567 thousand). In the period under review, arrivals from within the EU28 rose by 41.2% year-on-year to 2,923 thousand, while arrivals from outside the EU28 increased by 7.5% to 1,610 thousand. Arrivals from the euro area rose by 16.1%, while those from the non-euro area EU28 countries increased by 76.0%. More specifically, arrivals from Germany and France increased by 24.7% and 5.6%, respectively, while arrivals from the United Kingdom rose by 45.6%. Finally, turning to non-EU28 countries, arrivals from Russia fell by 61.6% to 56 thousand, while those from the United States increased by 37.1% to 170 thousand.

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