Developments in the balance of travel services: July 2025
22/09/2025 - Press Releases
- The balance of travel services posted a surplus of €4,179.7 million in July 2025 and a surplus of €10,171.5 million in January-July 2025.
- Travel receipts rose by 15.0% in July 2025 and by 12.5% in January-July 2025.
- Inbound traveller flows increased by 6.4% in July 2025 and by 2.6% in January-July 2025.
Balance of travel services
Based on provisional data, the balance of travel services in July 2025 showed a surplus of €4,179.7 million, up from a surplus of €3,659.6 million in July 2024. More specifically, travel receipts in July 2025 rose by 15.0% to €4,523.9 million, from €3,932.7 million in July 2024, while travel payments also increased by 26.1% (July 2025: €344.3 million, July 2024: €273.1 million). The increase in travel receipts stemmed from both a 6.4% rise in inbound traveller flows and a 7.2% increase in average expenditure per trip. Net travel receipts more than offset 143.3% of the goods deficit and contributed 93.0% of total net services receipts.
In January-July 2025, the balance of travel services showed a surplus of €10,171.5 million, up from a surplus of €9,214.1 million in the same period of 2024. Travel receipts rose by €1,351.6 million, or 12.5%, to €12,182.8 million, while travel payments also increased, by €394.3 million or 24.4%, to €2,011.4 million. The rise in travel receipts was driven by a 2.6% increase in inbound traveller flows and a 9.1% rise in average expenditure per trip. Net travel receipts offset 51.3% of the goods deficit and contributed 85.9% of total net services receipts.
Travel receipts
In July 2025, as mentioned previously, travel receipts rose by 15.0% year-on-year. In more detail, receipts from residents of the EU27 rose by 23.0% to €2,652.2 million, as did receipts from residents of other countries, by 1.9% (July 2025: €1,619.7 million, July 2024: 1,589.3 million). The rise in receipts from within the EU27 is attributed to an increase in receipts from euro area residents by 22.6% (July 2025: €1,977.0 million, July 2024: €1,612.9 million) and in receipts from residents of non-euro area EU27 countries by 24.1% to €675.2 million.
Specifically, among major euro area countries of origin, receipts from Germany increased by 23.6% to €664.4 million and receipts from France rose by 43.1% to €313.1 million. Receipts from Italy also increased, by 0.4% to €288.2 million. Turning to other countries, receipts from the United Kingdom decreased by 18.2% to €549.9 million, whereas receipts from the United States increased by 15.1% to €249.8 million. Lastly, receipts from Russia rose to €7.8 million.
In January-July 2025, travel receipts totalled €12,182.8 million, up by 12.5% year-on-year. This development is due to increases in receipts from EU27 residents by 13.8% to €6,722.0 million and in receipts from residents of other countries by 9.5% to €4,830.2 million. In greater detail, receipts from euro area residents rose by 12.8% to €5,267.6 million and receipts from residents of non-euro area EU27 countries increased by 17.6% to €1,454.4 million.
Specifically, receipts from Germany grew by 16.6% to €2,030.7 million, as did receipts from France, by 15.6% to €769.0 million. Receipts from Italy also increased, by 4.9% to €632.8 million. Turning to other countries, receipts from the United Kingdom decreased by 2.9% to €1,631.7 million, whereas receipts from the United States increased by 25.3% to €954.0 million. Lastly, receipts from Russia rose to €17.4 million.
Inbound traveller flows
The number of inbound travellers in July 2025 rose by 6.4% year-on-year to 6,763.1 thousand. Specifically, traveller flows through airports increased by 4.3% year-on-year, while traveller flows through road border-crossing points grew by 12.0%. This overall increase was due to higher traveller flows from both EU27 countries (up by 6.7%) and other countries (up by 5.9%). In greater detail, the number of travellers from within the euro area rose by 7.4% to 2,604.4 thousand, while travellers from non-euro area EU27 countries increased by 5.6% to 1,631.3 thousand.
Specifically, the number of travellers from Germany rose by 14.9% to 963.4 thousand, whereas travellers from France fell by 6.7% to 362.4 thousand. Travellers from Italy increased by 0.5% to 404.3 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom fell by 13.1% to 777.1 thousand as did the number of travellers from the United States, by 0.2% to 209.7 thousand. Lastly, the number of travellers from Russia increased to 5.4 thousand.
In January-July 2025, the number of inbound travellers grew by 2.6% to 18,454.9 thousand (January-July 2024: 17,982.6 thousand). Specifically, traveller flows through airports increased by 4.7%, whereas traveller flows through road border-crossing points decreased by 2.8%. In the period under review, the number of travellers from within the EU27 fell by 1.6% year-on-year to 10,648.7 thousand. By contrast, the number of travellers from other countries grew by 8.9% to 7,806.2 thousand. Travellers from within the euro area increased by 4.0%, while travellers from non-euro area EU27 countries decreased by 13.1%.
Specifically, the number of travellers from Germany rose by 8.0% to 2,812.4 thousand, whereas the number of travellers from France fell by 8.6% to 972.5 thousand. Travellers from Italy increased by 3.1% to 1,021.5 thousand. Turning to non-EU27 countries, the number of travellers from the United Kingdom rose by 1.5% to 2,299.1 thousand, as did the number of travellers from the United States, by 14.6% to 903.9 thousand. Lastly, the number of travellers from Russia increased to 15.9 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 August 2025 will be published on 22 October 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.