Travel receipts up 68.5% in Jan-Nov

The balance of travel services in November 2022 showed a surplus of 180 million euros, up from a surplus of €154.8 million in November 2021, the Bank of Greece said in a report on Monday.

In November 2022 travel receipts rose by 15.9% to €314 million, up from €271 million in November 2021, while travel payments also increased by 15.4% (November 2022: €134 million; November 2021: €116.2 million).

The rise in travel receipts was thanks to a 44.7% increase in inbound traveler flows, as average expenditure per trip declined by 21.8%.

Net travel receipts offset 4.7% of the goods deficit and contributed 55.4% in total net services receipts.

In the January-November 2022 period, the balance of travel services showed a surplus of €15.6 billion, up from a surplus of €9.3 million in the corresponding period of 2021.

Travel receipts rose by €7.06 billion, or 68.5%, to €17.4 billion, while travel payments also increased by €759.6 million, or 76%, to €1.76 billion.