Travel surplus climbs at 2.6 billion during nine-month period

Travel surplus climbs at 2.6 billion during nine-month period

Travel surplus in September was reported at € 2.6 billion and at € 14 billion for the January-September period. According to provisional data from the Bank of Greece, the travel balance in September 2019 recorded a surplus of € 2,631 million, against a surplus of € 2,282 million in the corresponding month of 2018.

In particular, travel revenues increased by 16.0% in September 2019, which translates to € 2,847 million compared to € 2,454 million in the same month of 2018, while travel payments increased by 25.8% (September 2019: € 216 million, whereas September 2018: € 172 million).

The increase in travel profits can be explained by an increase in average travel expenditure by 10.8%, as well as an increase in incoming travel traffic by 5.0% compared to September 2018. Net income from travel services contributed to 84.4% of total net service revenues and overcompensated (132.2%) the deficit in the balance of goods.

For the period January-September 2019, the travel balance surplus amounted to € 14,032 million, against € 12,507 million in the corresponding period of 2018. This is due to the increase in travel profits by € 1,976 million or 14.0%, which were only partially overcompensated by a € 450-million or 28.0% increase in travel payments.

The increase in travel revenues was due to an increase in average travel expenditure by 10.0%, as well as an increase in incoming travel traffic by 3.8%. Net revenues from travel services overcompensated the deficit in the balance goods by 80.3% and accounted for 76.4% of total net service profit.

Travel revenues                                                                       

In September 2019, as mentioned above, travel revenues increased by 16.0% in comparison to the same month in 2018.

In more detail, revenues from residents of the EU-28 countries increased by 17.7%, amounting to 2,032 million euros, while revenues from residents of non-EU-28 countries increased by 12.6% (September 2019 : 758 million, September 2018: 673 million).

The increase in revenues from EU-28 countries was a result of the increase of profit coming from residents from the euro area by 7.2% (September 2019: € 1,168 million, September 2018: € 1,090 million), as well as of the profits from residents of EU-28 countries outside the euro area, which stood at 864 million, up by 35.8%.

Specifically, regarding the travelers’ primary countries of origin, revenues from Germany decreased by 8.9%, which translates to 480 million euros, while profits from France increased by 53.7%, that is, 177 million. Revenues from the United Kingdom increased by 67.6%, which accounts to 478 million. /ibna