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Development of Tourism and Travel in Austria
Currently the Austrian economy is in a phase of extraordinarily strong growth. More than 16 million holidays were taken last year. However, the current economic upturn seems to have passed its peak. Read the following article to find out how the development of tourism and travel in Austria will continue in the current year.
Foreign guests accounted for 81.5% of overnight stays. / Picture: © Wikimedia Commons / Robinseed [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)]
Economic growth in 2018 came to 2.7% in real terms.
However, the current economic upturn seems to have passed its peak, with growth of 2.0% anticipated for 2019, according to OeNB and WIFO.
The current growth phase is also influencing the situation on the labour market.
The forecast unemployment rate fell from 5.5% in the previous year to 4.9% in 2018 and will…
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