Indexed turnover and growth rates for the hospitality sector in Q2 2021 by Eurostat leave room for cautious optimism but also show that the sector remains far from achieving full recovery to pre-Covid levels.
Eurostat, the statistical office of the European Union, has published key data on short-stay accommodation booked via four private platforms active in the tourism sector. This is a result of the March 2020 agreement between the Commission and Airbnb, Booking, Expedia Group and Tripadvisor, which began collaboration between these platforms and Eurostat.
Recent statistics published by Eurostat for turnover for accommodation and food service activities in Q4 2020 show the drastic impact of COVID-19 induced measures restricting tourism and the opening of hospitality establishments.
Before the outbreak of the Covid-19 pandemic, the hospitality sector provided 12 million jobs per year, represented 2 million companies (90% of them are micro-enterprises) and contributed with 5% of the GDP to the EU economy.
Despite historically low occupancy rates – averaging 38.9% during August across Europe – the summer period marked by a degree of recovery of Europe’s hotel sector following the easing of travel restrictions and the opening of certain borders.