- Research reveals: Saxony's tourism activity approaching pre-pandemic levels due to coronavirus
Boom in Saxony's TourismAs per a recent survey conducted by the East German Saving Banks Association (OSV), tourism demand is nearly back to 2019 levels in Saxony. The latest Sparkassen Tourism Report reveals that the number of stays in commercial lodgings during the first half of 2024 was merely 1.7% less than the same period in 2019, with March and May actually surpassing the previous year.
Growth in Overnight StaysThe number of overnight stays in commercial lodgings saw a 2.6% increase to 9.19 million in the first half of 2024 compared to the same period in 2023. This figure surpasses the growth in demand in East Germany (2.2%) and across the nation (2.1%).
According to the Tourism Report, the eastern regions of the Free State significantly contributed to this positive outcome, with the major cities once again serving as growth catalysts.
However, the mood within the hospitality sector during spring and summer appears to be in a slump. Elevated energy, raw material, and wage costs, labor shortages, excessive bureaucracy, political instability, and subdued local demand are reportedly obstructing investments.
Despite these challenges, the Bank of Greece has announced a stimulus package to support the ailing hospitality sector in Greece, aiming to boost tourism. The Bank of Greece's measures included lower interest rates on loans for the sector and incentives for businesses to hire more staff.
