Forecast: Share of Travel Services in Commercial Service Imports in Austria

The share of travel services in commercial service imports in Austria peaked at 20.14 units in 2013 and 2014 but has generally declined since. A significant drop occurred in 2020 due to the COVID-19 pandemic, with the value falling to 8.07 units. Despite some recovery by 2022 to 14.85 units, it decreased again in 2023 to 11.94 units. Year-on-year, this represents a decline from 2022 to 2023.

Forecasts from 2024 onward show a continuous downward trend, reaching 7.5 units by 2028. The forecasted Compound Annual Growth Rate (CAGR) from 2024 to 2028 is -7.46%, translating to a cumulative decline of 32.13% over five years.

Future trends to watch for include:

  • The impact of global travel regulations and potential future pandemics on travel services.
  • Shifts in consumer behavior towards virtual experiences influencing travel demand.
  • The role of sustainable tourism initiatives in reshaping the travel industry.

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