GKI tourism sector gauge points to modest recovery 

Tourism

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A new gauge of sentiment in Hungary's tourism sector stood at +12 in May, on a scale of -100 to +100, economic research institute GKI said on Wednesday, according to a report by state news wire MTI.

The indicator shows catering businesses and commercial accommodations were more optimistic than companies that operate tourist attractions. It also suggests a "moderately strong" demand for labor in the coming months.

Close to half of commercial accommodations businesses expect guest nights to rise in the coming three months, while 62% of catering companies augur higher turnover.

Around 40% of companies expect to raise prices over the next three months, and 45% plan capital expenditures in the coming year.

GKI will publish the gauge, which weighs business and employment outlooks and assessments as well as operating costs, on a monthly basis.

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