The travel services balance in Greece recorded a surplus of 3.927 billion euros in August 2019, up from a surplus of 3.432 billion euros in the same month in 2018, the Bank of Greece announced on Tuesday.

More specifically, the central bank announced, travel receipts in August 2019 rose by 16.1 pct to 4.183 billion euros, from 3.601 billion in August 2018, while travel payments also increased by 50.6 pct (August 2019: 255 million euros, August 2018: 170 million euros).

The rise in travel receipts is attributed to a 4.8 pct year-on-year increase in average expenditure per trip, as well as to a rise of 11.0 pct in inbound traveler flows.

Net receipts from travel services accounted for 87.0 pct of total net receipts from services and more than offset (210.2 pct) the goods deficit.

In January-August 2019, the balance of travel services showed a surplus of 11.402 billion euros, up from a surplus of 10.225 billion euros in the same period of 2018.

This development is attributed to an increase, by 13.6 pct or 1.583 billion euros, in travel receipts, which were only partly offset by travel payments, up by 28.3 pct or 406 million euros.

The rise in travel receipts is attributed to a 9.8 pct increase in average expenditure per trip, as well as to a rise of 3.6 pct in inbound traveler flows.

Net receipts from travel services offset 73.7 pct of the goods deficit and accounted for 74.8 pct of total net receipts from services.

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