Developments in the balance of travel services: September 2025
21/11/2025 - Press Releases
- The balance of travel services posted a surplus of €3,139.4 million in September 2025 and a surplus of €17,480.0 million in January-September 2025.
- Travel receipts fell by 3.6% in September 2025 but rose by 9.0% in January-September 2025.
- Inbound traveller flows grew by 3.6% in September 2025 and by 4.0% in January‑September 2025.
Balance of travel services
Based on provisional data, the balance of travel services in September 2025 showed a surplus of €3,139.4 million, down by 6.7% from a surplus of €3,364.6 million in September 2024. More specifically, travel receipts declined by 3.6% to €3,421.3 million in September 2025, from €3,548.1 million in September 2024, whereas travel payments increased by 53.6% (September 2025: €281.9 million, September 2024: €183.6 million). The decrease in travel receipts resulted from a 7.8% drop in average expenditure per trip, as inbound traveller flows increased by 3.6%. Net travel receipts more than offset 114.2% of the goods deficit and contributed 97.7% to total net receipts from services.
In January-September 2025, the balance of travel services posted a surplus of €17,480.0 million, up from a surplus of €16,406.4 million in the same period of 2024. Travel receipts rose by €1,661.0 million, or 9.0%, to €20,133.3 million, while travel payments also increased by €587.3 million, or 28.4%, to €2,653.3 million. The rise in travel receipts was driven by a 4.3% increase in average expenditure per trip and a 4.0% rise in inbound traveller flows. Net travel receipts offset 70.5% of the goods deficit and contributed 89.6% to total net receipts from services.
Travel receipts
In September 2025, as mentioned previously, travel receipts dropped by 3.6% year-on-year. In more detail, receipts from residents of the EU27 fell by 10.2% to €1,801.5 million, whereas receipts from residents of other countries increased by 3.6% (September 2025: €1,458.0 million, September 2024: €1,407.7 million). The lower receipts from within the EU27 were due to decreases in receipts from euro area residents by 13.0% to €1,316.9 million (September 2024: €1,514.1 million) and in receipts from residents of non-euro area EU27 countries by 1.4% to €484.5 million.
Specifically, among major euro area countries of origin, receipts from Germany declined by 28.3% to 477.5 million. Receipts from France increased by 20.0% to €168.7 million, while receipts from Italy also increased, by 42.5% to €212.5 million. Turning to other countries, receipts from the United Kingdom rose by 27.4% to €612.7 million, whereas receipts from the United States dropped by 19.5% to €224.9 million. No receipts were recorded from Russia.
In January-September 2025, travel receipts totalled €20,133.3 million, up by 9.0% year‑on‑year. This development was due to increases in receipts from EU27 residents by 5.6% to €10,984.3 million and in receipts from residents of other countries by 12.7% to €8,165.5 million. In greater detail, receipts from euro area residents rose by 3.5% to €8,425.1 million and receipts from residents of non-euro area EU27 countries increased by 13.3% to €2,559.3 million.
Specifically, receipts from Germany fell by 0.8% to €3,115.4 million, receipts from France increased by 7.3% to €1,192.0 million and receipts from Italy rose by 6.9% to €1,196.8 million. Turning to other countries, receipts from the United Kingdom rose by 11.9% to €3,098.0 million, while receipts from the United States increased by 11.7% to €1,399.2 million. Lastly, receipts from Russia rose to €22.6 million.
Inbound traveller flows
The number of inbound travellers in September 2025 rose by 3.6% year-on-year to 5,680.3 thousand. Specifically, traveller flows through airports increased by 5.1% year-on-year, while traveller flows through road border-crossing points increased by 1.9%. This overall increase was due to higher traveller flows from both the EU27 (up by 3.4%) and other countries (up by 3.9%). In greater detail, the number of travellers from within the euro area rose by 14.1% to 2,383.6 thousand, whereas travellers from non-euro area EU27 countries decreased by 12.6% to 1,218.5 thousand.
Specifically, the number of travellers from Germany rose by 10.2% to 950.6 thousand, while travellers from France increased by 42.3% to 285.9 thousand. Travellers from Italy also increased, by 34.6% to 371.5 thousand. Turning to other countries, the number of travellers from the United Kingdom increased by 3.7% to 778.9 thousand, while travellers from the United States increased by 3.0% to 194.5 thousand. Lastly, no travellers were recorded from Russia.
In January-September 2025, the number of inbound travellers rose by 4.0% to 31,600.9 thousand (January-September 2024: 30,373.8 thousand). Specifically, traveller flows through airports increased by 4.3%, while traveller flows through road border-crossing points increased also by 4.3%. In the period under review, the number of travellers from within the EU27 rose by 0.8% year-on-year to 18,887.7 thousand, as did the number of travellers from other countries, by 9.3% to 12,713.3 thousand. Travellers from within the euro area increased by 5.6%, whereas travellers from non-euro area EU27 countries declined by 8.1%.
Specifically, the number of travellers from Germany rose by 8.2% to 4,844.0 thousand, whereas the number of travellers from France fell by 0.6% to 1,709.0 thousand. Travellers from Italy increased by 7.1% to 1,948.3 thousand. Turning to other countries, the number of travellers from the United Kingdom rose by 4.3% to 4,056.4 thousand, as did the number of travellers from the United States, by 5.6% to 1,272.6 thousand. Lastly, the number of travellers from Russia increased to 20.5 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 October 2025 will be published on 23 December 2025, in accordance with the 2025 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.