Employment in the travel services sector in Austria has displayed a generally positive trend over the past decade. Between 2013 and 2017, employment figures fluctuated with minor decreases and increases, typically under 1%. A significant jump occurred in 2018 with an 8.37% increase, followed by a modest decline in 2019. From 2020 to 2022, year-on-year growth rates stabilized around 0.38%, resuming a steadier upward trend through 2023 with employment standing at 11.18 thousand units (FTE).
The Compound Annual Growth Rate (CAGR) reflects this overall stability. Despite an initial decline, the five-year CAGR ended at -0.12% by 2023, indicating slight variability. The forecast to 2028 suggests a growth rate of approximately 1.34%, with a 5-year forecasted CAGR of 0.27%.
Future trends to watch for:
- The recovery and potential growth post-pandemic as global travel normalizes.
- Technological advancements and their impact on employment within the industry.
- Government policies and incentives that might influence tourism and related employment.
- Sustainability and green tourism trends potentially reshaping the industry landscape.
