ATHENS
The balance of travel services posted a surplus of €149.9 million in December 2024 and of €18,918.1 million in the year 2024. Travel receipts rose by 33.3% in December 2024 and by 5.4% in the year 2024. Inbound traveller flows grew by 15.3% in December 2024 and by 9.8% in the year 2024, the Bank of Greece said on February 21.
Based on provisional data, the balance of travel services in December 2024 showed a surplus of €149.9 million, up from a surplus of €97.7 million in December 2023. More specifically, travel receipts in December 2024 rose by 33.3% to €435.1 million, from €326.4 million in December 2023, while travel payments also increased by 24.7% (December 2024: €285.2 million, December 2023: €228.7 million). The rise in travel receipts was due both to a 15.3% rise in inbound traveller flows and to a 16.0% increase in average expenditure per trip. Net travel receipts offset 4.7% of the goods deficit and accounted for 31.8% of total net receipts from services.
In the year 2024, the balance of travel services showed a surplus of €18,918.1 million, up from a surplus of €18,162.0 million in 2023. Travel receipts rose by €1,108.3 million, or 5.4%, to €21,702.0 million, while travel payments also increased by €352.2 million, or 14.5%, to €2,783.9 million. The rise in travel receipts stemmed from a 9.8% increase in inbound traveller flows, as average expenditure per trip fell by 5.1%. Net travel receipts offset 53.0% of the goods deficit and contributed 83.2% to total net receipts from services.
In December 2024, as mentioned previously, travel receipts rose by 33.3% year-on-year to €435.1 million. In more detail, receipts from residents of EU27 countries increased by 54.6% to €235.3 million, from €152.2 million in December 2023, while receipts from residents of other countries increased by 14.4% (December 2024: €187.2 million, December 2023: €163.7 million). The rise in receipts from within the EU27 was due to increases in receipts from euro area residents by 57.4% (December 2024: €201.0 million, December 2023: €127.7 million) and in receipts from residents of non-euro area EU27 countries by 40.2% (December 2024: €34.3 million, December 2023: €24.5 million).
More specifically, among major euro area countries of origin, receipts from Germany rose by 0.9% to €50.4 million, while receipts from France increased by 21.3% to €16.8 million. Receipts from Italy increased by 68.3% to €18.1 million. Turning to other countries, receipts from the United Kingdom rose by 32.7% to €27.6 million, while receipts from the United States increased by 117.7% to €53.1 million. Lastly, receipts from Russia increased by 21.4% to €1.3 million.
In 2024, travel receipts totalled €21,702.0 million, up by 5.4% compared with 2023. This development is attributed to increases in receipts from within the EU27 by 7.0% to €11,948.8 million and in receipts from other countries by 0.8% to €8,641.0 million. In greater detail, receipts from euro area residents increased by 4.2% to €9,457.3 million, as did receipts from residents of non-euro area EU27 countries, by 18.8% to €2,491.5 million.
Specifically, receipts from Germany grew by 3.5% to €3,696.1 million, whereas receipts from France fell by 11.4% to €1,262.9 million. Receipts from Italy increased by 13.6% to €1,225.1 million. Turning to other countries, receipts from the United Kingdom dropped by 3.7% to €3,172.5 million, whereas receipts from the United States rose by 15.1% to €1,581.5 million. Lastly, receipts from Russia decreased by 50.8% to €15.9 million.
The number of inbound travellers in December 2024 rose by 15.3% year-on-year to 882.4 thousand. Specifically, traveller flows through airports increased by 33.5% year-on-year, while traveller flows through road border-crossing points dropped by 8.2%. This overall increase was due to higher traveller flows from both EU27 countries (up by 22.7%) and other countries (up by 8.9%). In greater detail, the number of travellers from within the euro area rose by 42.7% to 335.1 thousand, whereas travellers from non-euro area EU27 countries declined by 16.3% to 101.0 thousand.
Specifically, the number of travellers from Germany declined by 12.0% to 73.5 thousand, whereas the number of travellers from France increased by 98.4% to 42.0 thousand. Travellers from Italy increased by 24.8% to 32.4 thousand. Turning to other countries, the number of travellers from the United Kingdom rose by 12.2% to 53.8 thousand, while travellers from the United States increased by 81.9% to 66.7 thousand. Lastly, the number of travellers from Russia fell by 63.2% to 0.9 thousand.
In 2024, the number of inbound travellers rose by 9.8% to 35,951.4 thousand (2023: 32,735.2 thousand). Specifically, traveller flows through airports increased by 10.7%, as did traveller flows through road border-crossing points, by 8.9%. In the period under review, the number of travellers from within the EU27 rose by 11.0% year-on-year to 21,795.1 thousand, while travellers from other countries increased by 8.1% to 14,156.3 thousand. The number of travellers from within the euro area grew by 12.1% and travellers from non-euro area EU27 countries increased by 8.9%.
Specifically, the number of travellers from Germany rose by 13.4% to 5,402.3 thousand, while the number of travellers from France increased by 8.8% to 1,992.4 thousand. Travellers from Italy also increased by 10.0% to 2,025.9 thousand. Turning to other countries, the number of travellers from the United Kingdom fell by 1.0% to 4,545.5 thousand, whereas travellers from the United States increased by 10.0% to 1,547.4 thousand. Finally, the number of travellers from Russia fell by 54.9% to 16.1 thousand.
