Equilibrium Developments in Travel Services: September 2022

22/11/2022 – Press releases

– The Availability of travel services It posted a surplus of €2,669.4 million in September 2022 and a surplus of €14,128.2 million in January-September 2022.

– In 2019In the year before the pandemic, the balance of travel services was €2,672.3 million in surplus in September and €14,094.6 million in January-September. 2019.

– Travel receipts Year-on-year growth was 35.1% in September 2022 and 78.3% in January-September 2022.

– Compared to respective periods 2019Travel receipts fell 1.1% in September 2022 and 3.1% in January-September 2022.

– The incoming passenger flows 52.3% in September 2022 and 103.9% in January-September 2022 compared to the same periods in 2021.

– Compared to respective periods 201910.8% in September 2022 and 12.1% in January-September 2022.

Availability of travel services
Based on provisional data, availability of travel services September 2022 It showed a surplus of €2,669.4 million, up from a surplus of €1,983.0 million in September 2021. More specifically, travel receipts in September 2022 increased by 35.1% to €2,855.4 million, while €202 million were paid, compared to €201 million in September. 42.8% (September 2022: €185.9 million, September 2021: €130.2 million). Travel receipts increased due to a 52.3% increase in inbound passenger flows as the average cost per trip fell by 11.3%. Net receipts from travel services accounted for 72.0% of the freight deficit and contributed 90.3% of total net receipts from services.

In January-September 2022, the balance of travel services showed a surplus of €14,128.2 million, compared to a surplus of €8,029.1 million in the same period in 2021. Travel receipts increased by €6,853.0 million or 78.3%, and travel fees increased by €15,6. €754.0 million or 104.4%, to €1,476.2 million. The increase in travel receipts was driven by a 103.9% increase in inbound passenger flows as the average cost per trip fell by 13.1%. Net receipts from travel services accounted for 50.2% of the freight deficit and contributed 82.3% to total net receipts from services.

Travel receipts
In September 2022, as mentioned earlier, travel receipts increased by 35.1% year-on-year. More broadly, receipts from residents of EU27 countries increased by 19.4% to €1,553.9 million, while receipts from outside the EU27 increased by 61.3% (September 2022: €1,245.5 million, September 2021: €2 million). The increase in receipts from within the EU27 was due to a 14.0% increase in receipts from residents of the euro area (September 2022: €1,219.4 million, September 2021: €1,069.5 million) and from residents of non-EU 42 countries to 42.42. % to €334.5 million.

More specifically, among the main euro area countries, inflows from Germany fell by 2.1% to €518.0 million, while inflows from France increased by 4.0% to €170.9 million. Turning to non-EU27 countries, inflows from the United Kingdom increased by 57.9% to €589.8 million and inflows from the United States increased by 40.0% to €200.3 million. Inflows from Russia decreased by 20.1% to 10.5 million euros.

In January-September 2022, travel receipts totaled €15,604.4 million, an increase of 78.3% compared to the same period in 2021. This growth was due to receipts from residents of the EU27, up 54.6% to €8,999.9 million, and receipts from residents outside the EU227. % to €6,300.6 million. More broadly, receivables from residents of the euro area increased by 52.0% to €7,093.8 million, while receivables from residents of non-euro EU27 countries increased by 65.3% to €1,906.1 million.

In particular, receivables from Germany increased by 47.8% to €2,748.0 million and receivables from France increased by 31.1% to €1,171.9 million. Turning to non-EU27 countries, receipts from the United Kingdom increased by 137.5% to €2,871.6 million. Credits from the United States increased by 94.5% to €923.6 million, while credits from Russia decreased by 54.8% to €31.3 million.

The incoming passenger flows
Number of incoming passengers September 2022 4,560.3 thousand, up 52.3% year-on-year. Specifically, passenger flow through airports increased by 41.6% compared to the same month last year, while passenger flow through road border crossing points increased by 118.4%. This overall increase was due to higher passenger arrivals from the EU27 (up 38.3%) and from outside the EU27 (up 81.7%). More broadly, passengers from within the euro area increased by 21.6% to 1,834.6 thousand, while passengers from non-euro EU27 countries increased by 86.4% to 978.4 thousand.

In particular, the number of passengers from Germany increased by 7.0% to 726.9 thousand, while the number of passengers from France was 231.3 thousand, almost unchanged from September 2021. Returning to non-EU27 countries, the number of travelers from the United Kingdom increased. by 87.0% to 844.9 thousand, while the number of passengers from the United States increased by 121.2% to 188.7 thousand. The number of passengers from Russia decreased by 65.1% to 4.4 thousand.

In January-September 2022, the number of incoming passengers increased by 103.9% to 23,686.7 thousand (January-September 2021: 11,619.4 thousand). Specifically, passenger flow through airports increased by 98.6%, while passenger flow through road border crossing points increased by 135.5%. During the period under review, the number of travelers from within the EU27 increased by 79.0% year-on-year to 14,741.7 thousand, while the number of travelers from outside the EU27 increased by 164.3% to 8,945.0 thousand. Passengers from within the euro area increased by 71.3%, while those from non-euro EU27 countries rose by 97.1%.

In particular, the number of passengers from Germany increased by 63.5% to 3,619.7 thousand and the number of passengers from France increased by 53.6% to 1,545.6 thousand. Turning to non-EU27 countries, the number of passengers from the United Kingdom increased by 227.9% to 3,852.6 thousand, while the number of passengers from the United States also increased by 182.6% to 835.9 thousand. The number of passengers from Russia decreased by 53.1% to 31.3 thousand.

Comparison with 2019, last year before the pandemic
Compared to September 2019, travel receipts decreased by 1.1%, average cost per trip increased by 11.3% and inbound passenger flows decreased by 10.8% in September 2022.

Compared to January-September 2019, travel receipts fell by 3.1%, the flow of inbound passengers stood at 12.1%, while the average cost per trip increased by 10.7% in January-September 2022.

Notes:
1. Flows of incoming passengers other than transit passengers recorded in the border census.
2. For a better understanding of the developments in the balance of travel services, the percentage changes relative to the respective periods of the pre-pandemic year 2019 are also attached to this press release.

Related information:
According to the advance release calendar published on the Bank of Greece’s website, the next press release on “Travel Services Balance Developments” for October 2022 will be published on 22 December 2022.

Related link:
Detailed and final information on the availability of travel services is published in the travel services section of the Bank of Greece website.