The estimation of travel credits in the balance of payments

Abstract

In September 2019, coinciding with a regular extraordinary revision (commonly known as a benchmark revision), the results of the Tourism Expenditure Survey (EGATUR) of the Spanish National Statistics Institute (INE) were fully incorporated into travel credits in the balance of payments (BOP). This change marked the culmination of a process initiated some years ago, at the time of the euro cash changeover, and involves a significant improvement to the completeness and coherence of the Spanish statistical system. The modification was carried out in coordination with the INE, so that the figures included in the National Accounts (NA) are consistent with those in the BOP.