Germany’s Travel and Tourism sector is making a significant recovery, reaching up to 95 per cent of its pre-pandemic levels, according to the World Travel and Tourism Council’s (WTTC) Economic Impact Research 2023 (EIR).
The report has also revealed that the contribution of €355 billion to the national economy, reaching 9.3 per cent of the economy, highlights the sector’s importance in driving economic growth and providing employment opportunities, SchengenVisaInfo.com reports.
“Last year, the Travel & Tourism sector’s GDP contribution grew by 43.4 per cent to reach more than €338BN, representing 8.8 per cent of the economy, edging closer to the 2019 high of €374BN,” says a press release of the WTTC on the report.
During the same year, the sector played a pivotal role in job creation, adding around 550,000 more jobs compared to the previous year, which led to a national total of 5.4 million jobs.
Based on the report, one out of every eight jobs in Germany is now within the Travel and Tourism sector. In addition, the recovery of over 50 per cent of the one million jobs lost during the pandemic demonstrates the industry’s robust rebound.
Further statistics from WTTC show that the return of international travellers to Germany was evident last year, alongside the increase of spending amongst overseas visitors by 61 per cent, reaching nearly €31 billion.
The authority also revealed that domestic visitor spending is now very close to reaching the pre-pandemic level of €307.8 billion, currently at €304.4 billion, reflecting a year-on-year increase of 49 per cent.
“The Travel and Tourism sector in Germany is making a strong recovery. It will contribute €355BN to the German economy this year and employ one in eight jobs across the country,” WTTC President & CEO Julia Simpson said.
According to Simpson, Germany is predicted to retain its rank as Europe’s fifth most popular tourism destination for the next ten years. At the same time, she stated that this projection underscores the long-lasting appeal of the country as a favoured travel destination.
As per the WTTC’s 2022 report, it was indicated that Germany’s Travel and Tourism sector was expected to outperform pre-pandemic levels during this year by nearly 2.5 per cent, surpassing the figures recorded in 2019. In this regard, the WTTC forecast also shows that the Travel and Tourism sector’s contribution to GDP has the potential to exceed €364 billion by 2023.
Source : Schengen Visa
