Turnover from German travel agencies fell by almost a quarter in the first quarter

By: Trademagazin editor Date: 2020. 06. 19. 10:34

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Turnover from German travel agents has fallen the most since the 2008 financial crisis, by almost a quarter, in the first quarter of this year, according to Thursday’s announcement by Destatis, the German federal statistical office.

In the first quarter of this year, seasonally and calendar-adjusted turnover of German travel agencies decreased by 22.9 percent compared to the previous quarter, due to epidemiological restrictions. This is the largest decline in turnover in the tourism sector since the 2008 financial crisis. (MTI)