What will happen to Hungary if tourism ceases for months

By: Trademagazin editor Date: 2020. 05. 11. 10:30

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According to the analysts of Szallas.hu, the number of guest nights will decrease by 43-48 percent this year, which will cause a loss of almost 250-300 billion HUF in tourism. Due to the multiplier effect, the Hungarian economy loses three times this, almost 800-900 billion HUF. We have to wait another year and a half for foreign tourists to arrive.

The tourism industry, which created 428,000 jobs in Hungary and generated 8.5 percent of Hungary’s GDP, came to a halt on March 14, 2020 and started a radical change. For the sake of interdependence, if a spa goes bankrupt, there will be no guests in the accommodation and catering units in the area.