Tourism in Budapest to explode during the restart?

Tourism in Hungary is prevalent and diverse. Regarding the surrounding countries, Hungary has one of the best domestic tourism. Besides, foreigners also love to visit Hungary and especially Budapest.

According to vg.hu, not only is tourism in Hungary attracting more and more people, but the number of investments is also growing. In 2019, the value of investments in tourism was more than 250 million euros. However, the coronavirus epidemic stopped the growth that could be seen in the previous years. Last year, there was only a total investment of € 170 million. However, it still outperforms the data of the year 2017 and 2018.

A slight stagnation can be observed in 2020,

however, the goal is to create more than 2000 rooms in Budapest and more than 300 rooms in the countryside by 2021.

According to forecasts, there is a good chance for that. At the same time, more investment may slip by 2022. The pandemic has reduced not only the amount of investments but also the number of nights spent in hotels. In Hungary, for example, the number of nights spent in hotels fell by 57 per cent compared to the previous year.

In 2020, the occupancy rate of hotels in Hungary fell from 79 per cent to 21 per cent, while sales per room for rent decreased from 72 euros to 17 euros. The pandemic puts hotels in a challenging situation. However, recovery is expected soon with the spread of the vaccine. Once the restrictions are over or reduced, the hotel industry can expect a rapid recovery. Even if foreign tourists do not come in such large numbers, domestic tourism is outstanding in Hungary. It is estimated that the hotels will reopen in the summer, which may be favourable for Lake Balaton and wine tourism.