Tourism sector contribution to GDP falls to 5.1% in 2020
Tourism generated about 5.1% of Hungary's GDP in 2020, down from 6.4% in 2019, the year before the pandemic, a summary of the country's Tourism Satellite Account by the Central Statistical Office (KSH) shows, according to state news wire MTI.
The Tourism Satellite Account is a statistical framework developed by the OECD, Eurostat, and the UN' World Tourism Organisation and Statistics Division to better gauge the impact of tourism on economies across business sectors, such as transport, catering and recreation.
KSH noted that tourism's broader contribution to GDP fell to 8.1% in 2020 from 10% in 2019.
The number of employees in the two main segments of the sector, commercial accommodations and catering, declined by 8% year-on-year in 2020.
The number of operating commercial accommodation units was down by more than 15%.
Investments in the tourism sector fell by more than 15% during the year, according to preliminary figures.
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