MBH quick analysis: The tourism sector excelled in another month

By: Trademagazin Date: 2025. 05. 28. 11:30

After a strong March, tourism in Hungary continued to thrive in April: the number of guests at tourist accommodations rose by 17%, and guest nights by 16% – despite the absence of long weekends. Overall, the first four months of 2025 show positive figures: 11% more guests were registered at accommodation providers than in the same period last year, with a 4.1% rise in domestic and an 18% increase in international guests. In 2025, tourism growth is expected to continue in line with global trends, supported domestically by rising real wages and additional benefits such as the doubling of family tax credits and personal income tax relief for mothers with two or three children.

Key tourism trends:

Tourism stabilized in April 2025: 1.4 million guests spent 3.4 million guest nights in tourist accommodations. The number of guests rose by 17%, and guest nights by 16% compared to the same month last year, partly because this year both Good Friday and Easter fell entirely in April.
Domestic guests increased by 12%, and their guest nights by 14% year-on-year.
International guests rose by 22%, with a 17% increase in guest nights compared to April 2024.

Based on travel destinations, domestic tourism grew in all regions compared to the previous year, with the largest increase in the Tokaj and Nyíregyháza area (27%). International arrivals also rose across the board, most notably in the Győr–Pannonhalma region (30%).
In the first four months of 2025, the picture remains positive compared to the same period in 2024:
- 11% more guest nights were registered in tourist accommodations, totaling nearly 4.6 million.
- Domestic guests accounted for 2.2 million (+4.1%), while international guests reached 2.4 million (+18%).

Total gross revenue in April at tourist accommodations reached HUF 87.6 billion, 25% more than a year earlier in current prices.
Spending with the Széchenyi Recreation Card also rose in April: cardholders spent 8.3% more than in April 2024, totaling about HUF 3.1 billion.

Budapest Airport saw 5.675 million passengers in the first four months of 2025, a 16.66% increase compared to the same period last year.
The accommodation and food service sector directly employs 180,000 people, accounting for 4% of total employment. Compared to 2023, employment dropped by 2%. Including indirect jobs, the sector employs 400,000 people (NGM data).

Outlook:

Accommodation services: Tourism growth in 2025 is expected to continue in line with global trends. Due to the weakening forint (395.2 HUF/EUR in 2024 vs. an expected 404 HUF/EUR in 2025), international travel may become more expensive, potentially leading more Hungarians to vacation domestically. According to the Hungarian Tourism Agency, if this growth rate continues, the goals set in the National Tourism Development Strategy – 20 million guests, 50 million guest nights, and 16% GDP contribution – could be reached before 2030.
Hospitality sector: The sector began 2025 with growth, with a 10% increase in turnover in Q1 year-on-year. Restaurants focused on international tourists, especially in Budapest, benefit the most from increased guest nights. Price sensitivity remains high in 2025, suggesting cautious revenue growth. Meeting the higher minimum and guaranteed wage requirements will be a key challenge. However, if economic conditions improve and confidence returns, rising real wages could support growth in restaurant turnover. The number of hospitality establishments has been declining since 2020, with 51,740 operating in 2024 – a 13% drop over five years.

Regulatory developments affecting the sector:

The Ministry of National Economy is establishing the institutional framework for financing tourism service providers: a new financial institution serving the credit needs of the tourism sector is set to launch this year, focusing on supporting SMEs. Public consultation on the plan has already begun this week.

Prepared by: Flóra Horti