EU Travel & Tourism Surges in 2023, Germany Lags Behind
The EU's Travel & Tourism sector experienced a robust 8% growth in 2023, with international spending surging 11.5% to reach €471.5BN. However, Germany's international visitor spending remained 25% below 2019 levels, with a €14BN deficit.
Germany's Travel & Tourism sector contributed €453BN to its GDP in 2023, €13.5BN less than in 2019. Employment in the sector grew by 5% to 6.18MN, but still lagged behind 2019 levels by almost 250,000 jobs. International visitor spending was €14BN short of 2019 levels. Despite these challenges, domestic tourism kept the sector afloat, with domestic spending exceeding 2019 levels by €2.9BN.
The World Travel & Tourism Council (WTTC) forecasts that the sector's GDP contribution will recover to nearly €469BN in 2024, a 0.5% increase from 2019. However, international visitor spending is expected to remain 10% below 2019 levels, with a €5.1BN deficit. The sector's overall contribution to Germany's GDP is predicted to recover, but jobs and international visitor spending will still trail behind 2019 levels.
With government support, Germany's Travel & Tourism sector could grow its annual GDP contribution to nearly €554BN by 2034, employing almost 6.5MN people. While the sector has not yet fully recovered to pre-pandemic levels, it is showing signs of resilience, particularly in domestic tourism.
