The 2024 summer season brought mixed results for the Hungarian hotel market

According to Tamás Flesch, president of the Association of Hungarian Hotels and Restaurants, this season has been satisfactory so far. June was particularly strong in terms of tourism, but a drop in July was expected given the impact of last year’s sporting events, such as the World Athletics Championships. In the year of sports events, the decline in urban tourism is understandable, which is especially noticeable this year due to the European Football Championship and the Olympics. Despite this, the hotels in the capital performed well during the Formula 1 weekend and the major concerts in Budapest.

The number of American tourists is increasing in Budapest, and the trend is expected to continue when direct flights between major American cities and Budapest begin. In addition, the presence of Chinese and South Korean tourists is also increasing, thanks to improved air connections. However, the number of Israeli tourists has declined, mainly due to the Palestinian-Israeli conflict and tensions with Iran, which have led to the suspension of flights. However, once flights resume, Israeli visitors are expected to return as well.

Lake Balaton and other rural holiday spots also close a successful season, mainly with the arrival of Polish, Czech and Slovak tourists. The number of Russian and Ukrainian guests remains low. According to Ágnes Forsthoffer, head of the Balaton region of the association, Lake Balaton remains an attractive destination for foreign tourists, whose share in the region ranges between 20-25%.