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In January 2024, the tourism accommodation sector experienced remarkable growth, with turnover increasing by 11%. This performance exceeded the pre-war and pre-COVID record set in 2019, signaling a robust recovery in economic growth, as noted by the Ministry of National Economy (NGM).
According to reports from the Hungarian Central Statistical Office (KSH) and the National Tourism Data Service Centre (NTAK), January 2024 saw a notable uptick in overnight stays, with 836,000 guests arriving at Hungarian accommodation establishments.
This figure represents a 10% increase compared to the previous year, and a 4% increase compared to January 2019.
Accommodation establishments in Hungary recorded a total of 2.1 million guest nights in January 2024, marking an 11% increase year-on-year and an 8% increase compared to 2019. Notably, the capital city accounted for the highest number of guest nights, with 915,000 recorded, reflecting a 13% increase year-on-year. Additionally, Lake Balaton emerged as a popular tourist region, generating 250,000 overnight stays, representing a 15% increase compared to the previous year.
View of the Esztergom Basilica. Photo: Pixabay
The composition of guest traffic in January was balanced, with 52% of guest nights attributed to foreigners. Domestic guests accounted for the remaining 48%, with one million overnight stays recorded, reflecting a 9% increase compared to both the previous year and January 2019.
The Ministry of National Economy highlighted the positive trend in international tourism, citing a 16.5% growth in passenger traffic at Liszt Ferenc International Airport in January, surpassing the levels observed in January 2019 by 9.4%.
Photo: Facebook / Budapest Airport
In terms of revenue, accommodation revenues rose by 10% year-on-year, totaling over HUF 47B (EUR 119.6M). Notably, rural accommodation contributed nearly 60% of the revenue, while the remaining 40% was generated in the capital.
Commercial accommodation revenue reached HUF 35B (EUR 89.1M), representing an 8.4% increase.
St. Stephen’s Basilica. Photo: Wikipedia
Looking ahead, the Ministry of National Economy emphasized the government’s focus on restoring economic growth, aiming for a dynamic GDP growth of around 4% in 2024. The strong performance of the tourism sector is seen as a positive indicator of consumption recovery, contributing to overall economic growth.
Via MTI; Feature Image:Facebook / BalaPort Balatonfüred