Forecast: Tourism Employment in Germany

Germany's tourism employment has shown substantial fluctuations over the past decade. From an initial value of 1.5108 million in 2013, employment consistently increased, peaking at 2.145 million in 2019, followed by a dramatic drop to 1.5469 million in 2020 due to the COVID-19 pandemic. Post-pandemic recovery has been strong, with employment rebounding to 2.3819 million by 2023. This represents a 9.04% year-on-year increase from 2022. Over the last two years (2022-2023), the average growth rate has been around 11.07%. The compound annual growth rate (CAGR) over the last five years (2018-2023) stands at 1.79%.

Looking ahead to the forecasted period (2024-2028), employment in Germany's tourism sector is expected to grow at a CAGR of 2.07%. By 2028, employment is projected to reach 2.7137 million, marking a cumulative growth of 10.78% from 2023 levels. This sustained growth highlights a resilient sector poised for further expansion. Trends to watch include technological advancements, evolving consumer preferences, and potential impacts of global economic shifts on travel demand.