MBH quick analysis: Tourism could strengthen significantly this year
Tourism continued to strengthen in January–November 2024: the number of nights spent by domestic guests in tourist accommodations exceeded the level of the same period of the previous year by 2.0%, and that of foreign guests by 9.5%. In 2025, we expect the growth trend of tourism to continue in line with international processes, which is also supported by the increase in real wages.
Key processes in tourism:
Tourism continued to strengthen in Hungary: in November 2024, 1.2 million guests spent 2.8 million guest nights in tourist accommodations. The number of guests exceeded the previous year by 17 and guest nights by 9.7%.
The number of domestic guests was 10 and the number of guest nights spent by them by 3.8% higher than in the same month of the previous year. The 607 thousand domestic guests spent nearly 1.3 million guest nights in tourist accommodations, of which 467 thousand guests and 978 thousand guest nights were registered in commercial accommodations.
The number of foreign guests increased by 23, and the guest nights they spent increased by 15% compared to the same month of the previous year. The 639 thousand foreign guests who arrived in tourist accommodations spent approximately 1.6 million guest nights, of which 445 thousand guests and almost 1.1 million guest nights were registered in commercial accommodations.
Based on the destinations of the trips, in November, the number of domestic guest nights increased the most in the Győr–Pannonhalma tourist region compared to the same period of the previous year (by 25%), and decreased the most in the Sopron–Fertő region (by 12%). The number of domestic guest nights spent in tourist accommodation increased by 9.4% in Budapest and by 1.6% higher at Lake Balaton.
The number of foreign guest nights increased most strongly in the Pécs–Villány region compared to the same period of the previous year (by 10%), and fell the most in the Gyula region. In Budapest, the number of foreign guest nights spent in tourist accommodation increased by 22% – partly in connection with the European summit held at the beginning of November – and at Lake Balaton, the number of foreign guest nights spent in tourist accommodation decreased by 1.7%. Looking at the eleven months of the year cumulatively, the sector also shows positive performance:
A total of 41.3 million guest nights were registered in tourist accommodation, up by 5.6%.
Domestic guests spent 2.0% more guest nights in tourist accommodations, while foreign guests spent 9.5% more (20.8 million and 20.5 million, respectively).
In November 2024, a total of 1,401,245 passengers passed through Liszt Ferenc International Airport, which not only exceeds last year’s figure by 22%, but also exceeds the previous record of November 2019 by 10%. Liszt Ferenc Airport’s passenger traffic will approach 18 million in 2024, the fastest growth in Europe. According to the government’s plans, the airport’s passenger traffic will increase to 20 million per year by 2030, which will also be supported by the construction of Terminal 3. The foundation stone is expected to be laid this year.
Total gross sales revenue in tourist accommodations was nearly 78 billion forints, 24% higher at current prices than a year earlier.
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