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Tourism in Northern Germany: Hospitality industry rejoices, travel industry struggles!
The economic index shows different trends in northern German tourism: the hospitality industry is optimistic, the travel industry is worried.
Tourism in Northern Germany: Hospitality industry rejoices, travel industry struggles!
The economic climate index for the northern German tourism industry currently shows a mixed picture. While that Hospitality industry Northern Germany is optimistic about the future Travel economy Concern. The index rose 16 points to 99 in the hospitality sector, while it fell six points to 102 in the travel sector. These results come from the survey, in which more than 500 IHK Nord companies were surveyed.
What is particularly striking is that 39% of hospitality companies rate their current situation as good, while only 18% are pessimistic. Nevertheless, only 13% expect an improvement in the coming months, indicating a cautious mood in the industry. In addition, 33% expect the situation to worsen.
Risks for the hospitality industry
Companies see the greatest risks for the hospitality industry in rising energy, food and raw material prices (74%), followed by high labor costs (72%) and a lack of staff (52%). Economic policy conditions (50%) and weak domestic demand (38%) also pose challenges. It is noteworthy that the survey took place at a time when the reduction in VAT in the catering sector had not yet been decided.
The IHK Nord recognizes positive developments in the hospitality industry, but urgently calls for relief such as more flexible working hours. This demand is criticized by the NGG union, which classifies the relaxation of the working time law as a health risk for employees. These debates are highly relevant for the hospitality industry, which includes accommodation and catering and is often referred to as HoReCa.
Challenges in the travel industry
In the travel industry, 38% of the companies surveyed rate their situation as good, while 10% are pessimistic. This creates a worrying picture, as 33% of companies expect the business situation to worsen and only 15% see an improvement. The biggest risks for this industry are also the economic policy framework (55%) and domestic demand (45%).
The mood in the northern German tourism industry has also deteriorated after what was originally a good summer season. This development is thought-provoking, as expectations for the coming season from both the hospitality and travel industries are more negative than in spring 2023.
Future outlook and support
The tourism business survey by the IHKs in Northern Germany shows that the industry is under considerable pressure. To support the recovery, various measures are recommended, including cost reductions in the areas of energy and food and a reduction in bureaucracy. Constantly strengthening municipal investment capacity is also important, as a stable tourism economy not only secures jobs, but also contributes to strengthening city centers and promoting investment.