Wifo warns despite strong tourism year 2023

The value-added effects of tourism in Austria, including service and business trips, amounted to 20.07 billion euros in 2023. This was 4.2 percent of the gross domestic product (GDP). According to preliminary data published by Statistics Austria on Tuesday, the value from 2022 was significantly exceeded. However, according to recent information from Wifo for 2024, tourism value creation is suffering because costs are rising more than revenues.

In any case, according to Statistics Austria, tourist expenditures reached a new high of nearly 37 billion euros in 2023. The share of tourism value creation in Austria's total economic output of 4.2 percent (2022: 3.8 percent, 2019: 4.4 percent) corresponds approximately to the level before the Covid crisis of 2019. The value-added contribution has been increasing again since the crisis, according to the authority.

Tourist Consumption Increased

At the same time, tourist consumption increased sharply. In 2023, it was 17 percent higher than in 2022 and more than 20 percent above the value of 2019.

More than half of the expenditures were attributable to guests from abroad. Of the total expenditures of 36.78 billion euros for holiday and business trips by day visitors and overnight tourists in Austria, more than half (61.5 percent) were attributable to foreign travelers, amounting to 22.62 billion euros. Guests from within the country spent a total of 13.81 billion euros (share: 37.5 percent).

(APA/Red)

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