In 2023, Germany led the European output of travel services with a significant share, followed by the Netherlands, Greece, Belgium, and Austria. Noticeable growth was observed in Estonia, Croatia, and the Netherlands, while Belgium and Austria experienced slight declines. The average annual growth rate (CAGR) over the last 5 years highlights robust performances in Estonia and Croatia, indicating expansion potential.
Future trends to monitor include:
- Increasing digitalization and technological advancements influencing travel services.
- Greater emphasis on sustainable tourism practices.
- Potential impacts of geopolitical shifts and economic factors on travel demand.
- Growing tourism interest in Central and Eastern European countries.
Top countries in Output of Travel Services Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 57.81 | 2023 | +19.51% | +2.69% | View data |
| 2 | 2 Netherlands | 26.25 | 2023 | +3.46% | +3.44% | View data |
| 3 | 3 Greece | 4.35 | 2023 | +1.61% | +1.18% | View data |
| 4 | 4 Belgium | 3.87 | 2023 | +13.17% | -3.08% | View data |
| 5 | 5 Austria | 3.28 | 2023 | +15.14% | -0.34% | View data |
| 6 | 6 Croatia | 1.51 | 2023 | +23.76% | +3.78% | View data |
| 7 | 7 Slovakia | 1.36 | 2023 | +23.94% | +2.48% | View data |
| 8 | 8 Slovenia | 0.76 | 2023 | +21.1% | +1.16% | View data |
| 9 | 9 Lithuania | 0.5 | 2023 | +22.69% | +1.97% | View data |
| 10 | 10 Estonia | 0.33 | 2023 | +22.65% | +3.54% | View data |
