In many of the approximately 1200 fitness studios in Austria, the number of customers has not yet returned to pre-Corona levels. After almost three years of corona-related restrictions, there is recovery, but: “An estimated ten percent is still missing,” explains Christian Hörl, spokesperson for the fitness companies in the Association of Leisure and Sports Companies of the Economic Chamber. (WKO). Before the pandemic, about 1.2 million members had trained in the gyms.
Overall, the fitness trend in society seems unbroken. Also in 2022, turnover will have doubled compared to the previous year, according to the association without giving more concrete figures. But that’s mainly due to the lengthy closures and tough reopening conditions in 2021.
Hörl: Challenging situation for many companies
According to the Chamber of Commerce, the fitness studios and their operators, like many companies from other sectors and especially potential customers, are struggling with high inflation. This drives up costs, especially for space, personnel, energy and the purchase of goods. The increase in interest rates on financing, both for bank loans and leases, made things difficult for companies. “For this reason, many companies view the current situation as very challenging, although expectations of a further increase in customer numbers give cause for optimism,” says Hörl.
Recently there were reports from Germany that the fitness industry there had virtually recovered from the massive losses during the pandemic. According to the Employers’ Association of German Fitness and Health Facilities (DSSV), after significant growth in 2022 and mid-year this year, they went back to pre-Corona levels with 10.7 million members.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
