The balance of travel services posted a surplus of EUR571.2 million in April 2024 and a surplus of EUR937.8 million in January-April 2024.
Travel receipts rose by 15.9% in April 2024 and by 22.0% in January-April 2024.
Inbound traveller flows increased by 13.9% in April 2024 and by 20.0% in January-April 2024.
Balance of travel services
Based on provisional data, the balance of travel services in April 2024 showed a surplus of EUR571.2 million, up from a surplus of EUR474.6 million in April 2023. More specifically, travel receipts in April 2024 rose by 15.9% to EUR844.5 million, from EUR728.9 million in April 2023, while travel payments also increased by 7.5% (April 2024: EUR273.3 million, April 2023: EUR254.3 million). The rise in travel receipts is attributed to a 13.9% increase in inbound traveller flows, as well as to a rise of 1.9% in average expenditure per trip. Net travel receipts offset 18.1% of the goods deficit and contributed 68.5% of total net services receipts.
In January-April 2024, the balance of travel services posted a surplus of EUR937.8 million, up from a surplus of EUR767.9 million in the same period of 2023. Travel receipts rose by EUR322.6 million or 22.0% to EUR1,786.5 million, while travel payments increased by EUR152.7 million or 21.9% to EUR848.7 million. The rise in travel receipts is attributed to a 20.0% increase in inbound traveller flows, as well as to a rise of 2.1% in average expenditure per trip. Net travel receipts offset 8.1% of the goods deficit and contributed 45.8% of total net services receipts.
Travel receipts
In April 2024, as mentioned previously, travel receipts grew by 15.9% year-on-year. In more detail, receipts from residents of EU27 countries increased by 30.0% to EUR472.2 million, up from EUR363.3 million in April 2023, as did receipts from other countries, which grew by 0.6% (April 2024: EUR328.3 million, April 2023: EUR326.4 million). The rise in receipts from within the EU27 was driven by increases in receipts mainly from euro area residents by 37.4% (April 2024: EUR426.7 million, April 2023: EUR310.5 million), whereas receipts from residents of non-euro area EU27 countries decreased by 13.7% year-on-year to EUR45.6 million. More specifically, among major euro area countries of origin, receipts from Germany rose by 23.5% to EUR139.2 million, as did receipts from France, which grew by 15.1% to EUR77.6 million. Receipts from Italy also increased by 154.0% to EUR63.8 million. Turning to other countries, receipts from the United Kingdom decreased by 31.5% to EUR54.6 million, whereas receipts from the United States increased by 39.1% to EUR103.8 million. No receipts were recorded from Russia.
In January-April 2024, travel receipts totalled EUR1,786.5 million, up by 22.0% relative to the same period of 2023. This development was due to increases in receipts from residents of the EU27 by 38.5% to EUR942.3 million and in receipts from residents of other countries by 7.5% to EUR779.7 million. In greater detail, receipts from euro area residents rose by 40.7% to EUR808.4 million and receipts from residents of non-euro area EU27 countries increased by 26.5% to EUR133.9 million. Specifically, receipts from Germany rose by 31.1% to EUR235.6 million, as did receipts from France, which increased by 6.9% to EUR127.8 million. Receipts from Italy grew by 118.9% to EUR121.4 million. Turning to other countries, receipts from the United Kingdom decreased by 16.7% to EUR111.7 million, whereas receipts from the United States increased by 35.7% to EUR204.6 million. Finally, receipts from Russia decreased by 62.7% to EUR1.9 million.
Inbound traveller flows
The number of inbound travellers in April 2024 rose by 13.9% year-on-year to 1,563.5 thousand. Specifically, traveller flows through airports rose by 22.0% relative to April 2023, whereas traveller flows through road border-crossing points fell by 5.7%. This overall increase was due to higher traveller flows from both within the EU27 (up by 21.5%) and other countries (up by 3.4%). In greater detail, travellers from within the euro area rose by 34.9% to 769.3 thousand. ?ravellers from non-euro area EU27 countries decreased by 12.0% to 200.3 thousand. Specifically, the number of travellers from Germany rose by 27.6% to 254.7 thousand and the number of travellers from France decreased by 8.9% to 94.5 thousand. Traveller flows from Italy also increased by 83.8% to 117.6 thousand. Turning to other countries, the number of travellers from the United Kingdom fell by 26.6% to 90.1 thousand, whereas travellers from the United States increased by 33.9% to 105.1 thousand. No travellers were recorded from Russia.
In January-April 2024, the number of inbound travellers rose by 20.0% to 3,896.0 thousand (January-April 2023: 3,246.8 thousand). Specifically, traveller flows through airports grew by 23.4%, while traveller flows through road border-crossing points increased by 14.4%. In the period under review, the number of travellers from within the EU27 rose by 27.1% year-on-year to 2,156.7 thousand, while travellers from other countries increased by 12.2% to 1,739.3 thousand. The number of travellers from within the euro area rose by 34.5% and travellers from non-euro area EU27 countries increased by 11.0%. Specifically, the number of travellers from Germany rose by 28.3% to 459.0 thousand, as did the number of travellers from France, by 8.2% to 212.6 thousand. Traveller flows from Italy also increased by 59.6% to 222.8 thousand. Turning to other countries, the number of travellers from the United Kingdom fell by 23.2% to 208.2 thousand, whereas travellers from the United States increased by 62.1% to 267.5 thousand. Finally, the number of travellers from Russia fell by 74.4% to 1.2 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 May 2024 will be published on 23 July 2024, in accordance with the 2024 Advance Release Calendar, posted on the Bank of Greece website.
BANK OF GREECE 
