Evolution of the travel services balance: December 2021

22/02/2022 – Press releases

  • the balance of travel services generated a surplus of €64.0 million in December 2021 and €9,533.8 million in 2021.

  • Travel receipts increased by 406.9% in December 2021 and by 146.7% in 2021.
  • Flow of incoming travelers increased by 294.0% in December 2021 and by 99.4% in 2021.

Travel services balance

Based on provisional data, the balance of travel services in December 2021 posted a surplus of €64.0 million, compared to a surplus of €2.2 million in December 2020. Specifically, travel receipts increased by 406.9% to €176.6 million euros in December 2021, compared to €34.8 million in December 2020, while travel payments also increased by 244.4% (December 2021: €112.6 million, December 2020: €32.7 million) . The increase in travel revenue is due to a 294.0% increase in inbound traveler flows and a 25.7% increase in average spend per trip. Net receipts from travel services offset 2.3% of the goods deficit and contribute 14.8% to total net receipts from services.

During this year 2021, the balance of travel services showed a surplus of 9,533.8 million euros, compared to a surplus of 3,525.9 million euros in 2020. Travel receipts increased by 6,334.3 million euros or 146.7% to 10,653.1 million euros, while travel payments also increased by 326.4 million euros or 41.2% to 1,119.2 million euros. The increase in travel revenue is due to a 99.4% increase in inbound traveler flows, as well as a 22.1% increase in average spend per trip. Net receipts from travel services offset 37.2% of the goods deficit and contribute 72.6% to total net receipts from services.

Travel receipts

In December 2021, as mentioned earlier, travel revenue grew 406.9% year-on-year. Specifically, receipts from residents of EU27 countries increased by 283.3% to €75.7 million, while receipts from outside the EU27 increased by €542.0 % (December 2021: €96.8 million, December 2020: €15.1 million). The increase in receipts from within the EU27 is explained by the increase in receipts from euro area residents by 290.4% to €60.7 million (December 2020: €15.5 million euros) and receipts from residents of non-euro area EU27 countries by 256.8% to 60.7 million euros. 15.0 million. Specifically, among the top eurozone source countries, receipts from Germany increased by 178.3% to €17.6 million and receipts from France increased by €510.0 % to 8.7 million euros. In non-EU27 countries, UK receipts increased by 503.2% to €25.7 million and US receipts increased by 756.7% to €9.2 million. euros. Receipts from Russia also increased by 1,706.9% to €7.6 million.

During this year 2021, travel receipts increased by 146.7% compared to the previous year, to €10,653.1 million. This development is driven by a 141.2% increase in receipts of EU27 residents, which amounted to €6,894.6 million, and a 147.7% increase in receipts of non-EU27 residents. , which amounted to 3,596.4 million euros. Specifically, receipts for residents of the euro area increased by 133.7% to €5,622.2 million, while receipts for residents of non-euro area EU27 countries increased 181.1% to €1,272.4 million. In particular, receipts from Germany increased by 108.9% compared to the previous year to 2,369.5 million euros and receipts from France increased by 172.0% to 999, 4 million euros. Looking at non-EU27 countries, UK receipts increased by 97.9% to €1,495.6 million, while US receipts increased by 605.3% to €607, 0 million euros. Receipts from Russia also increased by 705.2% to 115.2 million euros.

Flow of incoming travelers

The number of inbound travelers in December 2021 increased by 294.0% year-on-year to 380.5,000. Specifically, passenger flows through airports increased by 464.4% compared to December 2020 and passenger flows through border crossing points increased by 192.1%. This overall increase is due to the increase in passenger flows both within the EU27 (up 219.7%) and outside the EU27 (up 373.4%). Specifically, the number of travelers from the euro area increased by 277.7% to 127,800, while travelers from non-euro area EU27 countries increased by 97.6% to 31,700. In particular, the number of travelers from Germany increased by 297.6% to 43,200 and travelers from France increased by 503.4% to 15,100. number of travelers from the United Kingdom increased by 497.5% to 42,900, while the number of travelers from the United States increased by 522.8% to 14,400 and from Russia by 778.9% at 8000.

During this year 2021, the number of inbound travelers increased by 99.4% to 14,704.9 thousand (2020: 7,374.5 thousand). Specifically, passenger flows through airports increased by 109.5%, as did passenger flows through road border crossing points, by 69.5%. During the year under review, the number of travelers from the EU27 increased by 107.0% compared to the previous year to reach 10,123.0 thousand and travelers from outside EU27 increased by 84.4% to reach 4,581.9 thousand. The number of travelers from the euro area increased by 113.5%, while travelers from non-euro area EU27 countries increased by 91.6%. Specifically, travelers from Germany increased by 96.6% to 3,001.2 thousand and travelers from France increased by 150.5% to 1,174.5 thousand. Regarding countries outside the EU27, the number of travelers from the United Kingdom increased by 48.9% to 1,591.2 thousand, while the number of travelers from the United States increased by 271, 6% to 396.0 thousand and from Russia 365.3% to 119.5 thousand.

To note:

Inbound passenger flows exclude cruise passengers other than those recorded in the border survey.

Related Information:

The next press release on “Travel Services Balance Development” for January 2022 will be issued on March 24, 2022, in accordance with the advance release schedule published 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.

Willie R. Golden