HR: Income from tourism decreased due to the fall of 9.1% of average expenditure

The current (23.9.2024) data of the Bank of Greece ( ) show that while the incoming travel traffic of July increased by 4.1% compared to the corresponding month last year, the average per journey was 9.1% reduced. The result is that the July travel receipts were reduced by 4.2%, as they amounted to 4,031 billion euros, compared to 4.208 billion euros in the respective month of 2023, the TTE reports. On the contrary, the 7.5% increase was observed in travel payments, which in July this year amounted to EUR 276.1 million. At seven-month level the average expenditure was EUR 583 versus EUR 619 in the corresponding period of EUR 2022 and EUR 632 in the seven-month period of 2022. More detailed, according to the provisional data: Travel Balance The travel balance in July 2024 showed a surplus of EUR 3,755,4 million, compared to an surplus of EUR 3,951.9 million in the respective month of 2023. Net receipts from the provision of travel services overcompensated the balance of goods deficit by 132.0% and contributed 90.4% to total net receipts from services. In January – July 2024, the travel balance showed a surplus of EUR 9.308.5 million, compared to an surplus of EUR 9.005.5 million in the corresponding period of 2023. An increase of EUR 577.5 million, or 5.6%, was made in travel receipts, which amounted to EUR 10,952.7 million, while an increase of EUR 274,5 million, or 20.0%, was also observed in travel payments, which amounted to EUR 1,644.3 million. The increase in travel receipts is due to the increase in incoming travel traffic by 11.2%, as average expenditure per journey decreased by 5.7%. Net receipts from travel services accounted for 45.8% of the balance of goods deficit and contributed 81.7% to total net receipts from services. Travel receipts In July 2024, as mentioned above, travel receipts decreased by 4.2% compared to the respective month of 2023. More specifically, a 2.9% reduction was recorded in receipts from EU-27 residents, which amounted to 2,213.4 million euros, compared to 2,278.7 million euros in the corresponding month of 2023, as was receipts from other countries by 8.6% (July 2024: 1,651.8 million euros, July 2023: 1,8069 million euros). The reduction in receipts from EU-27 countries was the result of a reduction in revenues from residents of euro area countries by 8.3% (July 2024: 1,621.0 million euros, July 2023: 1.766.9 million euros), as receipts from EU-27 non-euro area residents increased by 15.8% and amounted to 592.4 million euros, compared with 511.8 million euros in the corresponding month of 2023. In particular, with regard to the most important countries of origin of travellers from the euro area, receipts from Germany decreased by 9.9% and amounted to EUR 539.9 million, while receipts from France decreased by 34.2% and amounted to EUR 229.6 million. Revenue from Italy was reduced by 1.5%, which amounted to EUR 276.3 million. Of the other countries, an increase of 1.2% has been made in receipts from the United Kingdom, which have been set at 720.1 million euros, while receipts from the US have decreased by 11.7% and have been set at 219.4 million euros. Finally, receipts from Russia decreased by 52.7% to 3.2 million euros. In January-July 2024, travel receipts recorded a 5.6% rise compared to the corresponding period of 2023 and were set at 10,952.7m euros. This development is due to an increase in receipts from EU-27 residents by 7.6%, which amounted to 6,029.2 million euros, as well as an increase in receipts from other countries by 1.5% to 4.470.3 million euros. More specifically, revenues from residents of the euro area countries amounted to 4.725.4m euros, increased by 4.0%, as did receipts from residents of EU-27 countries outside the euro area, which rose by 23.2% and rose to 1,303.8m euros. In particular, receipts from Germany increased by 1.4% to 1,763,2 million euros, while those from France decreased by 13.8% to 675,3 million euros. Increased by 20.7% were the receipts from Italy, which amounted to EUR 605,3 million. Of the other countries, 11.3% rose from the United Kingdom, which amounted to 1,728.7 million euros, while US receipts decreased by 3.0% to 759.6 million euros. Finally, receipts from Russia fell by 65.2% and were set at 8.3m euros. Incoming travel traffic The incoming travel traffic in July 2024 was formed to 6.357.0 thousand travelers, increased by 4.1% compared to the corresponding month of 2023. In particular, airport travel increased by 4.7% compared to July 2023 and this via road border stations by 3.1%. The rise in incoming travel traffic stemmed from the rise in travel from both EU-27 countries by 2.2% and from other countries by 7.3%. More specifically, the travel traffic from the euro area countries was shaped as 2,425.3 thousand travellers, increased by 5.7%, while the travel traffic from the EU-27 countries outside the euro area showed a 2.8% decrease and was shaped by 1,544.4 thousand travellers. In particular, travel from Germany increased by 12.3% and was formed by 833.3 thousand travellers, as was the one from France, which increased by 4.3% to 388.5 thousand travellers. A 10.1% reduction in travel traffic from Italy, which was formed by 402.1 thousand travellers. With regard to other countries, travel from the United Kingdom increased by 11.5% and was formed by 894.5 thousand travellers and this from the US by 0.5% to 210.2 thousand travellers. Finally, the travel traffic from Russia decreased by 44.9% and was shaped as 3.5 thousand travelers. In January-July 2024, incoming travel traffic recorded an increase of 11.2% and was formed as 17,982.6 thousand travelers, compared to 16,170.4 thousand travellers in the corresponding period of 2023. In particular, airport travel increased by 12.0% and this through road border stations by 9.9%. During the period under review, travel from the EU-27 countries was formed as 10,816.5 thousand travellers, showing an 11.3% rise compared to the corresponding period of 2023, while travel traffic from other countries increased by 11.1% and was formed by 7,166.2 thousand travelers. Travel traffic from euro area countries increased by 13.6%, as did travel from EU-27 countries outside the euro area, by 6.8%. In particular, travel from Germany increased by 13.2% and was formed by 2,604.6 thousand travellers, as well as that from France, which increased by 5.2% and was formed by 1,064.5 thousand travellers. An increase of 13.8% was also noted in travel traffic from Italy, which was shaped as 990.7 thousand travelers. With regard to the other countries, travel from the United Kingdom increased by 8.1% and was formed by 2,266.1 thousand travellers, as was that from the United States, which increased by 6.9% to 788.6 million travellers. Finally, the travel traffic from Russia decreased by 54.2% and was shaped as 9.0 thousand travelers.