Tourism continued to strengthen at the beginning of the year – sector outlook

Key Tourism Trends:

• At the beginning of 2025, the tourism sector in Hungary continued its upward trend: in January, 1 million guests spent nearly 2.3 million guest nights in tourist accommodations. The number of guests increased by 18%, and the number of guest nights by 8.7% compared to the previous year.
• The number of domestic guests increased by 7.2%, and their guest nights were 0.8% higher than in the same month of the previous year. The 473,000 domestic guests accounted for 995,000 guest nights at tourist accommodations, including 370,000 guests and 775,000 guest nights at commercial accommodations.

Number of Guest Nights Spent at Tourist Accommodations (in thousands)

• The number of foreign guests increased by 29%, and their guest nights by 16% compared to the same month of the previous year. A total of 541,000 foreign guests arrived at tourist accommodations, spending approximately 1.3 million guest nights. Among them, 363,000 guests and 870,000 guest nights were registered at commercial accommodations.
• Regarding travel destinations, in November, the number of domestic guest nights increased the most in the Győr–Pannonhalma tourism region (by 22%), while it decreased the most in the Budapest area (by 11%). At Lake Balaton, the number of domestic tourists staying at tourist accommodations increased by 10%, and in Budapest by 14%.
• The number of foreign guest nights increased in all Hungarian regions, with the most significant growth in Gyula and its surrounding areas, where it rose by 50%. In Budapest, the number of foreign tourists staying at tourist accommodations increased by 31%, and at Lake Balaton by 32%.
• Total gross revenue at tourist accommodations reached HUF 61.5 billion in January, representing a 21% increase at current prices compared to the previous year.
• A total of 20,565 tourist accommodations operated in January (18% more than a year earlier), including 2,088 commercial accommodations and 18,477 private and other accommodations.

Total Revenue of Tourist Accommodations (million HUF)

• Compared to the same month of the previous year, spending with the Széchenyi Recreation Card (SZÉP Card) decreased by 2.6% at current prices, totaling HUF 2.2 billion at tourist accommodations. Changes in the SZÉP Card took effect in January, allowing 50% of the received benefits to be used for home renovations. While this benefits the construction industry, it is unfavorable for hospitality and accommodation providers.

Short-Term Outlook:

• Accommodation Services: In 2025, we expect the tourism growth trend to continue in line with international processes. However, due to the weakening of the forint (with an average exchange rate of 395.35 EUR/HUF in 2024 and a projected 400 EUR/HUF in 2025), foreign travel may become more expensive, potentially leading more Hungarians to vacation domestically.

Sales Revenue of Hospitality Establishments (million HUF)