In 2022, the contribution of travel and tourism to the Gross Domestic Product (GDP) in European Union (EU) member countries and the United Kingdom remained below pre-pandemic levels, with one standout exception—Croatia.
According to Statista’s data, Croatia was the only EU nation in which the travel and tourism industry not only recovered but also surpassed its pre-pandemic contribution to GDP in 2022. This sector accounted for nearly 26 per cent of Croatia’s GDP, SchengenVisaInfo.com reports.
Following closely, Portugal and Greece also ranked prominently in 2022, with travel and tourism representing 15.8 per cent and 18.5 per cent of their respective GDPs. Travel and tourism play a crucial role in several European economies, with Greece, Portugal, and Spain being particularly reliant on this sector.
While in most European Union member countries, the travel and tourism sector contributes less than eight per cent to their GDP, there are a few nations that stand out.
Spain, for instance, saw a notable share of 13.6 per cent in 2022, a slight decrease from 14.1 per cent in 2019. Malta and Cyprus also displayed significant contributions, with 12.6 per cent and 12.2 per cent, respectively, in 2022, compared to 15 per cent and 13.7 per cent in 2019. Italy maintained a relatively stable share, with 10.2 per cent in 2022 versus 10.6 per cent in 2019.
Additionally, several other countries, including Austria, the United Kingdom, the Netherlands, Slovenia, Germany, Estonia, Luxembourg, and France, also showed noteworthy contributions.
Countries whose travel and tourism sector contributed to less than eight per cent to their GDP include Finland, which decreased from 7.7 per cent in 2019 to 6.6 per cent in 2022. Sweden also saw a decline from 7.1 per cent in 2019 to 6.7 per cent. Hungary’s contribution dropped to 6.6 per cent, down from 8.3 per cent, and Bulgaria fell from 9.9 per cent in 2019 to 6.5 per cent in 2022. Similarly, Latvia’s share decreased from 7.6 per cent in 2019 to 6.4 per cent.
Additionally, several countries, such as Denmark, Romania, Belgium, Slovakia, Lithuania, Czech Republic, Poland, and Ireland, all had travel and tourism contributions of less than six per cent to their GDP in 2022.
Ireland had the lowest GDP contribution among EU countries, standing at just three per cent.
Austria is a standout in Central Europe, with a 9.5 per cent contribution in 2022, down from 10.8 per cent in 2019, and among the Baltic countries, Estonia is distinctive, contributing 8.7 per cent to its GDP in 2022 compared to 12.3 per cent in 2019.
In 2019, travel and tourism contributed over €1,981.23 billion to Europe’s GDP, but by 2022, this figure had declined to €1,838.65 billion. Similarly, in the United Kingdom, the contribution was €235.59 billion in 2019, which decreased to €224.78 billion in 2022.
