Tourism revenues – 20 billion euros, even higher by 2024

The authorities’ initial forecast that tourism revenues this year would reach last year’s levels of around 18 billion euros turned out to be too conservative. Everything turned out much better.

All the data pointed to momentum, which was confirmed month after month as it became clear that high occupancy and a longer season would push total tourism revenue past 2019’s record levels.

August proved to be a “key moment” as occupancy at tourism sites reached 100% and international arrivals increased by around 11% compared to 2019.

Thus, this year’s revenue amounted to 20 billion euros, that is, approximately 2 billion euros more than in 2019. Although market participants believe that even this optimistic preliminary estimate is likely to be exceeded. Based on tourism revenues and their share of GDP, this at least €2 billion of additional turnover increases GDP by approximately €4 billion, with a positive impact on tax revenues estimated at €600 million.

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