The number of persons employed in the Travel Agency Activities sector in Germany has seen significant fluctuations between 2013 and 2023. Starting at 54.69 thousand employees in 2013, the sector experienced a notable dip in 2014, before recovering and peaking in 2018 at 60.46 thousand employees. The most significant drop occurred in 2020, coinciding with the COVID-19 pandemic, leading to a low of 36.94 thousand employees. Since then, the sector has shown a robust recovery, culminating at 62.68 thousand employees in 2023, demonstrating an 8.13% year-on-year growth from 2022.
Key variations include a sharp decline in 2020 (-29.73%) and a strong rebound in 2021 (+39.58%). Over the last five years, the sector experienced an average annual growth rate (CAGR) of 0.73%, depicting moderate recovery and growth.
In the forecast period from 2024 to 2028, the number of employed persons is expected to continue growing, reaching around 67.78 thousand employees by 2028, reflecting a 1.24% forecasted 5-year CAGR and a total growth rate of 6.36% over this period.
Future trends to watch for include the continued digital transformation of travel services, increased demand for personalized travel experiences, and potential impacts of geopolitical events and economic fluctuations on travel activities.
