Based on provisional data by the Bank of Greece, the balance of travel services in August 2024 showed a surplus of €4,020.7 million, down from a surplus of €4,090.6 million in August 2023. More specifically, travel receipts in August 2024 fell by 1.8% to €4,249.6 million, from €4,328.2 million in August 2023, while travel payments also decreased by 3.7% (August 2024: €228.9 million, August 2023: €237.6 million). The fall in travel receipts was due to an 8.8% decline in average expenditure per trip, as inbound traveller flows grew by 6.6%. Net travel receipts more than offset (150.6%) the goods deficit and accounted for 88.8% of total net receipts from services.
In January-August 2024, the balance of travel services posted a surplus of €13,330.6 million, up from a surplus of €13,096.1 million in the same period of 2023. Travel receipts rose by €476.2 million, or 3.2%, to €15,179.6 million, while travel payments also increased by €241.7 million, or 15.0%, to €1,849.0 million. The rise in travel receipts stemmed from a 9.9% increase in inbound traveller flows, as average expenditure per trip fell by 7.0%. Net travel receipts offset 58.3% of the goods deficit and contributed 83.4% to total net receipts from services.
Travel receipts
In August 2024, as mentioned previously, travel receipts declined by 1.8% year-on-year. In more detail, receipts from residents of EU27 countries increased by 5.1% to €2,599.2 million, from €2,473.8 million in August 2023, whereas receipts from other countries dropped by 13.9% (August 2024: €1,506.4 million, August 2023: €1,750.3 million). The rise in receipts from within the EU27 was due to increases in receipts from euro area residents by 3.2% to €2,022.0 million (August 2023: €1,959.0 million) and in receipts from residents of non-euro area EU27 countries by 12.1% to €577.2 million (August 2023: €514.8 million). More specifically, among major euro area countries of origin, receipts from Germany rose by 13.0% to €729.2 million, whereas receipts from France dropped by 9.6% to €331.7 million. Receipts from Italy increased by 18.5% to €396.1 million. Turning to other countries, receipts from the United Kingdom decreased by 14.6% to €647.3 million, whereas receipts from the United States increased by 14.7% to €215.9 million. No receipts were recorded from Russia.
In January-August 2024, travel receipts totalled €15,179.6 million, up by 3.2% year-on-year. This development was due to increases in receipts from residents of EU27 countries by 6.0% to €8,562.7 million, whereas receipts from residents of other countries decreased by 2.8% to €5,980.9 million. In greater detail, receipts from euro area residents increased by 3.0% to €6,699.8 million, as did receipts from residents of non-euro area EU27 countries, by 18.4% to €1,862.9 million. Specifically, receipts from Germany grew by 3.7% to €2,472.8 million, whereas receipts from France dropped by 12.4% to €1,007.8 million. Receipts from Italy increased by 18.3% to €988.6 million. Turning to other countries, receipts from the United Kingdom rose by 2.8% to €2,375.6 million, as did receipts from the United States, by 0.8% to €979.6 million. Lastly, receipts from Russia decreased by 68.5% to €8.7 million.
Inbound traveller flows
The number of inbound travellers in August 2024 rose by 6.6% year-on-year to 6,908.0 thousand. Specifically, traveller flows through airports grew by 8.8% year-on-year and traveller flows through road border-crossing points rose by 3.0%. This overall increase was due to higher traveller flows from both EU27 (up by 8.1%) and other countries (up by 4.1%). In greater detail, the number of travellers from within the euro area rose by 12.7% to 2,838.6 thousand, while travellers from non-euro area EU27 countries increased by 0.7% to 1,600.5 thousand. Specifically, the number of travellers from Germany rose by 31.3% to 1,008.5 thousand, as did the number of travellers from France by 14.1% to 454.0 thousand. Travellers from Italy also increased by 6.0% to 553.2 thousand. Turning to other countries, the number of travellers from the United Kingdom fell by 5.3% to 870.8 thousand, whereas travellers from the United States increased by 13.7% to 227.7 thousand. No traveller flows were recorded from Russia.
In January-August 2024, the number of inbound travellers rose by 9.9% to 24,890.6 thousand (January-August 2023: 22,649.1 thousand). Specifically, traveller flows through airports grew by 11.1%, as did traveller flows through road border-crossing points, by 7.7%. In the period under review, the number of travellers from within the EU27 rose by 10.3% year-on-year to 15,255.5 thousand, while travellers from other countries increased by 9.2% to 9,635.1 thousand. The number of travellers from within the euro area rose by 13.4% and travellers from non-euro area EU27 countries increased by 4.8%. Specifically, the number of travellers from Germany rose by 17.7% to 3,613.1 thousand, as did the number of travellers from France, by 7.7% to 1,518.5 thousand. Travellers from Italy also increased, by 10.9% to 1,543.9 thousand. Turning to other countries, the number of travellers from the United Kingdom rose by 4.0% to 3,136.9 thousand, while the number of travellers from the United States increased by 8.4% to 1,016.3 thousand. Finally, the number of travellers from Russia fell by 64.9% to 9.0 thousand.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
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