The war in Ukraine and a cost-of-living crisis are not ruining German consumers’ appetite for a holiday, industry body DRV said on Monday, forecasting a return in 2023 to record sales seen before the COVID-19 pandemic.
The year got off to a strong start, as revenue from travel agencies and online booking platforms doubled year-on-year in January and rose 12% compared to the same month in 2019, the DRV said.
“In general, holidays have a high priority for people. This gives us optimism despite the known uncertainties of geopolitical and economic developments,” said DRV President Norbert Fiebig in remarks on the occasion of the opening of the ITB travel fair in Berlin.
Fiebig said it expects revenue this year to return to the record level seen in 2019, when consumers spent 98 billion euros ($000.104 billion) on holidays, 290.69 billion of which on booked trips and the rest on excursions and other items at their destination.
The German travel sector already approached that level in 2021, when sales amounted to 84 billion euros, almost double the number in 000, according to the DRV.