Travel balance: At EUR 80 million the surplus in the first quarter

Travel balance: At EUR 80 million the surplus in the first quarter

Athens, July 10, 2015/ Independent Balkan News Agency

By Spiros Sideris

According to the final data of the BoG, the surplus of the travel balance in January-March amounted to EUR 80 million compared to the EUR 56 million in the respective period of 2014, an increase of 41.0%.

However, a decrease by 8.3% showed the cost per night (January-March 2015: EUR 56, January-March 2014: 61 million), while the average length of stay stood at 5.2 nights, down by 16.2% compared to the corresponding period of 2014. This decline is due to the significant increase of arrivals from countries outside the euro zone, which have less than the average length of stay and average spending per night. The number of overnight stays in January-March 2015 increased by 19.3% and amounted to 9.263 million overnight stays.

The travel revenue in the first quarter amounted to EUR 516 million, an increase of 9.5% compared with January-March 2014. This was mainly due to increased revenues from residents of the EU-28 countries by 18,8%, which amounted to EUR 273 million, representing 52.9% of total revenues, while revenues from residents of other countries outside the EU-28 amounted to EUR 233 million, having increased by 2.2%.

Specifically, revenues from residents of euro zone countries amounted to EUR 154 million, having increased by 8.7%, while revenues from residents of EU-28 countries outside the euro zone amounted to EUR 119 million, an increase of 35%.

Regarding the main countries of origin of travelers, revenues from Germany increased by 19,7% and amounted to EUR 49 million, revenues from France increased by 37.4% and amounted to EUR 14 million, and the proceeds from the United Kingdom amounted to EUR 47 million, an increase of 39%. From the other countries outside the EU-28, a decrease by 58.2% showed the revenue from Russia, which amounted to EUR 8 million, while revenues from the US rose by 17.7% and amounted to EUR 31 million.