Forecast: Travel Agency and Tour Operator Gross Value Added in Germany

The gross value added by travel agencies and tour operators in Germany showed significant fluctuations over the past decade and beyond. Between 2013 and 2018, the industry generally experienced modest growth, peaking in 2018 with a notable increase. However, there was a considerable decline in 2019 followed by a dramatic drop in 2020 and 2021, primarily due to the impact of the COVID-19 pandemic, which severely affected global travel. In 2022, the industry started to recover with a significant rebound, continuing into 2023 where it stood at 6.82 billion euros, reflecting a year-on-year increase of 17.11%. The forecasted data from 2024 to 2028 suggests a stable yet modest growth, highlighted by a forecasted 5-year compounded annual growth rate (CAGR) of 0.47%, indicating a near-flat growth trajectory.

Key future trends to watch for include advancements in technology and digitalization in the travel industry, changes in consumer travel behavior post-pandemic, and the impact of sustainable and eco-friendly travel demands. Additionally, geopolitical stability and economic factors will play crucial roles in shaping the travel industry's future growth in Germany.