Germany's Tourism Sector Shows Recovery, But International Spending Lags
Germany's Travel & Tourism sector has shown signs of recovery, with domestic visitor spending exceeding 2019 levels by €2.9BN in 2023. However, the sector's overall GDP contribution was €13.5BN below 2019 levels at €453BN. The EU's Travel & Tourism sector, meanwhile, contributed €1.65TN to GDP in 2023.
The sector's recovery is expected to continue, with GDP contribution forecast to reach nearly €469BN in 2024, although it will still be €13.5BN below 2019 levels. Domestic visitor spending is projected to grow modestly to almost €411BN in 2024.
International visitor spending, however, is expected to remain almost 10% behind 2019 levels in 2024, with a deficit of €5.1BN. In 2023, international visitor spending was €14BN less than in 2019. Employment in the sector also lagged behind, with 6.18MN jobs in 2023, 250,000 below 2019 levels. By 2024, jobs are predicted to increase by 160,000 but will still be 80,000 below pre-pandemic highs.
With government support, the sector could grow its annual GDP contribution to nearly €554BN by 2034. Despite the progress, the sector's full recovery remains a work in progress, particularly in terms of international visitor spending and employment levels.
