Menu

1.9 bln euro travel services surplus in June '17-BoG

Based on provisional data, in June 2017 the balance of travel services showed a surplus of €1,915 million, up 15.5% from a surplus of €1,658 million in June 2016. More specifically, travel receipts rose by 14.2% to €2,047 million in June 2017, from €1,792 million in the same month of 2016, while travel payments decreased by 1.4% (June 2017: €132 million, June 2016: €134 million).

The rise in travel receipts was driven by a 13.0% increase in inbound traveller flows and by a rise in average expenditure per trip by 1.6% to €589. Net receipts from travel services accounted for 82.7% of total net receipts from services and more than offset (133.9%) the goods deficit.

In January-June 2017, the balance of travel services showed a surplus of €3,174 million, up 9.4% from a surplus of €2,901 million in the same period of 2016. This development is attributed to an increase of €273 million or 7.1% in travel receipts, as travel payments remained virtually unchanged at €940 million. The rise in travel receipts was due mostly to a 6.6% increase in inbound traveller flows, as average expenditure per trip rose by 0.7%. Net receipts from travel services offset 34.6% of the goods deficit and accounted for 60.5% of total net receipts from services.

In June 2017, as mentioned previously, travel receipts increased by 14.2% year-on-year. In more detail, receipts from residents of the EU28 rose by 10.5% to €1,401 million, while receipts from outside the EU28 also rose, by 26.6% (June 2017: €576 million, June 2016: €455 million). The rise in receipts from within the EU28 was due to increased receipts by 17.6% from euro area residents (June 2017: €831 million, June 2016: €707 million) and by 1.5% from residents of non-euro area EU28 countries (June 2017: €569 million, June 2016: €561 million). Breaking down receipts by visitor’s country of origin, receipts from France rose by 14.2% to €109 million and those from Germany by 16.3% to €347 million. Receipts from the United Kingdom also increased, by 8.5% to €378 million. Turning to non-EU28 countries, receipts from Russia rose by 20.3% to €74 million, while receipts from the United States also increased, by 33.6% to €110 million.

In January-June 2017, travel receipts increased by 7.1% year-on-year to €4,114 million. This development is attributed to increases in receipts from within the EU28 by 8.0% to €2,685 million and in receipts from outside the EU28 by 6.2% to €1,265 million. In particular, receipts from euro area residents rose by 14.4% to €1,696 million, whereas receipts from residents of non-euro area EU28 countries fell by 1.5% to €989 million. Specifically, receipts from France rose by 17.3% to €277 million and receipts from Germany increased by 15.4% to €688 million. Receipts from the United Kingdom also increased, by 4.6% to €630 million. Turning to non-EU28 countries, receipts from Russia rose by 10.7% to €121 million, whereas receipts from the United States fell by 11.0% to €239 million.

In June 2017, the number of inbound visitors rose by 13.0% year-on-year to 3,356 thousand. Specifically, visitor flows through airports increased by 14.9% and visitor flows through road border-crossing points increased by 6.4%. This development is attributed to higher visitor flows from both within the EU28 (up 10.2%) and outside the EU28 (up 19.7%). In greater detail, visitors from the euro area increased by 18.3% to 1,225 thousand, while visitors from the non-euro area EU28 countries also rose, by 2.4% (June 2017: 1,096 thousand, June 2016: 1,071 thousand). Specifically, visitors from France increased by 9.9% to 150 thousand and visitors from Germany by 14.6% to 457 thousand. Visitors from the United Kingdom also increased, by 6.1% to 502 thousand. Turning to non-EU28 countries, the number of visitors from Russia rose by 36.6% to 109 thousand, as did the number of visitors from the United States, by 34.6% to 124 thousand.

In January-June 2017, the number of inbound visitors rose by 6.6% to 7,941 thousand (January-June 2016: 7,446 thousand). Specifically, visitor flows through airports increased by 11.3%, while visitor flows through road border-crossing points declined by 4.1%. In the period under review, visitors from within the EU28 increased by 7.9% year-on-year to 5.331 thousand, while visitors from outside the EU28 also rose, by 4.2% to 2,609 thousand. Visitors from the euro area increased by 18.5%, whereas visitors from the non-euro area EU28 countries declined by 2.3%. Specifically, the number of visitors from France increased by 12.3% to 413 thousand, as did the number of visitors from Germany, by 18.0%, to 1,048 thousand. Visitors from the United Kingdom also increased, by 3.2% to 958 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia increased by 15.1% to 187 thousand, whereas the number of visitors from the United States fell by 2.3% to 298 thousand.

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

back to top