Travel receipts in Greece exceeded €16 billion during 2018, according to the current account balance announced by the Bank of Greece.
Based on provisional data by the Central Bank, the balance of travel services showed a surplus of €14 million in December 2018, compared with a surplus of €25 million in December 2017. More specifically, travel receipts in December 2018 rose by 40.0% to €266 million, from €190 million in December 2017, while travel payments increased by 53.1% (December 2018: €252 million, December 2017: €165 million). The rise in travel receipts is attributed to a 16.8% increase in inbound traveler flows, as well as to a rise of 20.2% or €67 in average expenditure per trip. Net receipts from travel services accounted for 2.8% of total net receipts from services and offset 0.8% of the goods deficit.
In 2018, the balance of travel services showed a surplus of €13,943 million, up from a surplus of €12,725 million in 2017. This development is attributed to an increase, by 10.1% or €1,483 million, in travel receipts, which were only partly offset by travel payments, up by 13.9% or €265 million. The rise in travel receipts reflected a 10.8% increase in inbound traveler flows, as average expenditure per trip edged down by €1 or 0.2%. Net receipts from travel services accounted for 72.0% of total net receipts from services and offset 62.0% of the goods deficit.
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