Developments in the balance of travel services: July 2018

21/09/2018 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services in July 2018 showed a surplus of €3,218 million, compared with a surplus of €2,776 million in July 2017. More specifically, travel receipts in July 2018 rose by 14.4% to €3,384 million, from €2,957 million in July 2017, whereas travel payments decreased by 8.0% (July 2018: €166 million, July 2017: €181 million). The rise in travel receipts is attributed to a 7.7% increase in inbound traveller flows, as well as to a rise of 6.6% or €37 in average expenditure per trip. Net receipts from travel services accounted for 85.8% of total net receipts from services and more than offset (188.5%) the goods deficit.

In January-July 2018, the balance of travel services showed a surplus of €6,980 million, up from a surplus of €5,924 million in the same period of 2017. This development is attributed to an increase, by 17.0% or €1,198 million, in travel receipts, which were partly offset by travel payments, up by 12.7% or €142 million. The rise in travel receipts mainly reflected a 14.6% increase in inbound traveller flows and, to a lesser extent, an increase in average expenditure per trip by €14 or 2.7%. Net receipts from travel services offset 60.0% of the goods deficit and accounted for 74.4% of total net receipts from services.

Travel receipts

In July 2018, as mentioned previously, travel receipts rose by 14.4% year-on-year. In more detail, receipts from residents of the EU28 increased by 15.0% to €2,249 million, while receipts from outside the EU28 also rose, by 14.5% (July 2018: €1,060 million, July 2017: €926 million). The higher receipts from within the EU28 were due to increases in receipts from euro area residents by 12.5% to €1,376 million and in receipts from residents of non-euro area EU28 countries by 19.2% to €874 million (July 2017: €733 million). Among major countries of origin, receipts from Germany rose by 20.1% to €495 million, whereas receipts from France fell by 8.0% to €189 million. Receipts from the United Kingdom decreased by 8.8% to €345 million. Turning to non-EU28 countries, receipts from Russia fell by 12.2% to €98 million, while receipts from the United States rose by 75.1% to €215 million.

In January-July 2018, travel receipts totalled €8,232 million, up 17.0% relative to the same period of 2017. This development was driven by a 23.4% increase in receipts from residents of the EU28, which came to €5,671 million, and by a 5.9% rise in receipts from residents outside the EU28 to €2,347 million. In particular, receipts from euro area residents increased by 22.4% year-on-year to €3,504 million, while receipts from residents of non-euro area EU28 countries also rose by 25.0% to €2,167 million. Specifically, receipts from Germany rose by 35.2% to €1,467 million, as did receipts from France, by 2.9% to €465 million. Receipts from the United Kingdom also increased, by 1.2% to €1,052 million. Turning to non-EU28 countries, receipts from Russia decreased by 18.2% to €197 million, while receipts from the United States increased by 27.0% to €503 million.

Inbound traveller flows (1)

The number of inbound visitors in July 2018 rose by 7.7% year-on-year to 5,539 thousand. Specifically, visitor flows through airports increased by 10.6%, as did visitor flows through road border-crossing points, by 1.9%. This increase in flows is attributed to higher visitor flows from within the EU28 (up 12.9%), as visitor flows from outside the EU28 declined by 2.5%. In greater detail, the number of visitors from within the euro area increased by 15.7% to 2,011 thousand, while visitors from the non-euro area EU28 countries also rose, by 9.9% (July 2018: 1,846 thousand, July 2017: 1,679 thousand). Specifically, the number of visitors from Germany rose by 31.7% to 677 thousand, while visitors from France increased by 8.6% to 298 thousand. Visitors from the United Kingdom fell by 11.2% to 497 thousand. Turning to non-EU28 countries, visitors from Russia edged down by 0.8% to 125 thousand, whereas visitors from the United States increased by 81.3% to 213 thousand.

In January-July 2018, the number of inbound visitors rose by 14.6% to 14,995 thousand, compared with 13,082 thousand in the same period of 2017. Specifically, visitor flows through airports increased by 15.4%, as did visitor flows through road border-crossing points, by 13.4%. In the period under review, the number of visitors from within the EU28 rose by 21.0% year-on-year to 10,582 thousand, as did the number of visitors from outside the EU28, by 1.8% to 4,413 thousand. Visitors from within the euro area rose by 19.8%, while visitors from the non-euro area EU28 countries increased by 22.2%. Specifically, the number of visitors from Germany increased by 36.5% to 2,133 thousand, as did the number of visitors from France, by 10.1% to 756 thousand. Visitors from the United Kingdom also increased, by 2.5% to 1,555 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia fell by 11.5% to 277 thousand, whereas the number of visitors from the United States rose by 34.8% to 560 thousand.

Note: The next Press Release on “Developments in the balance of travel services” for August 2018 will be published on 23 October 2018.

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