After the Corona Pandemie Five years ago, the tourism sector recovered relatively well. Apartments are more popular than ever, said economic researcher Oliver Fritz. “The financing has been generous – the criticism that overgrowth took place is not entirely unjustified.”
Some companies may have been bankrupt in the coming years, others would have made it without financing. But Fritz told the APA press agency in the crisis. “It had to be paid very quickly – it is very difficult to be accurate”.
In any case, tourism has proven to be a “pretty resilient”. Nothing has happened with the accommodation companies. “We have noticed that the Austria statistics have reported an incredible recovery of the journeys for 2023 and even in 2022 – that seems to be an Austrian specific from the Austrian Institute for Economic Research (WiFo).
Travel is part of “normal consumption habites”
In Austria, people would travel more both private and professionally. In general, however, business trips in Europe decreased. “Corona has shown that you don’t always have to meet personally”. The trend to online conferences and the apartments were pushed through the pandemie. “It was very welcome in Pandemie because you could be isolated”.
Traveling has already become part of normal consumption habits, people would not want to do it without. “People want to travel, but possibly save on costs,” said Fritz.
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.
