The World Travel and Tourism Council (WTTC) has released the results of its 2023 Economic Impact Research (EIR), revealing that the travel and tourism sector in Germany is rapidly recovering, approaching 95% of pre-pandemic levels.
In 2023, the fund is expected to contribute €355 billion to the national economy, reaching almost 95% of the high point reached in 2019 and representing 9.3% of the overall economy. The WTTC also estimates that the sector will create more than 168,000 jobs this year, recovering most of the jobs lost due to the COVID-19 pandemic and reaching 5.6 million jobs.
In the previous year, the contribution to GDP of the Travel and Tourism sector grew by 43.4%, reaching over €338 billion, equivalent to 8.8% of the overall economy and approaching the 2019 peak of €374 billion. During the year, the sector created an additional 550,000 jobs compared to the previous year, reaching 5.4 million jobs nationwide, or one in eight jobs in Germany.
Currently, more than 50% of the million jobs lost during the pandemic have been recovered. Last year also marked the return of international travelers to Germany, with spending by foreign visitors growing by 61% to almost €31bn.
Domestic visitor spending is approaching the pre-pandemic level of €307.8 billion, currently standing at €304.4 billion, up 49% year-over-year.
Julia Simpson, President and CEO of the WTTC, said: “The Travel and Tourism sector in Germany is experiencing a strong recovery. It will contribute €355 billion to the German economy this year and will employ one in eight workers across the country. Germany is expected to remain the fifth most popular tourist destination in Europe over the next decade, demonstrating its enduring appeal.”
What will the next decade look like?
The global tourism body projects that the sector will increase its contribution to GDP to more than €440 billion by 2033, accounting for 10.3% of the overall economy, and will employ nearly 6.1 million people across the country, with one in seven Germans expected to work in the sector.
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