Based on provisional data by the Bank of Greece, the balance of travel services in September 2018 showed a surplus of €2,277 million, compared with a surplus of €2,260 million in September 2017. More specifically, travel receipts in September 2018 rose by 0.3% to €2,441 million, from €2,434 million in September 2017, whereas travel payments decreased by 6.1% (September 2018: €164 million, September 2017: €174 million). The rise in travel receipts was due to a 4.9% increase in inbound traveler flows, as average expenditure per trip fell by €22 or 4.3%. Net receipts from travel services accounted for 81.0% of total net receipts from services and more than offset (110.0%) the goods deficit.
In January-September 2018, the balance of travel services showed a surplus of €12,625 million, up from a surplus of €11,571 million in the same period of 2017. This development is attributed to an increase, by 9.1% or €1,184 million, in travel receipts, which were only partly offset by travel payments, up by 9.0% or €131 million. The rise in travel receipts reflected a 10.3% increase in inbound traveler flows, as average expenditure per trip fell slightly, by €5 or 0.9%. Net receipts from travel services accounted for 76.4% of total net receipts from services and offset 76.2% of the goods deficit.
In September 2018, as mentioned previously, travel receipts rose by 0.3% year-on-year. In more detail, receipts from residents of the EU28 increased by 2.9% to €1,725 million, while receipts from outside the EU28 fell by 5.7% (September 2018: €650 million, September 2017: €689 million). The higher receipts from within the EU28 were due to increases in receipts from euro area residents by 2.7% to €1,055 million and in receipts from residents of non-euro area EU28 countries by 3.2% to €669 million (September 2017: 648 million). Among major countries of origin, receipts from Germany rose by 8.1% to €494 million, whereas receipts from France fell by 15.4% to €113 million. Receipts from the United Kingdom decreased by 17.4% to €301 million. Turning to non-EU28 countries, receipts from Russia rose by 4.1% to €50 million, whereas receipts from the United States dropped by 16.0% to €136 million.
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