Overall, travel is set to see strong current value growth in Norway in 2024, as it continues its post-pandemic recovery. With inflation having hit extremely high rates following the Russian invasion of Ukraine and its impact on the economy, it is normalising at the end of the review period.
Despite the growing demand for flights and significant increases in the number of passengers during the post-COVID-19 recovery period, airlines in Norway are suffering from an uncertain operating environment. This has involved a high threat of strikes by airport and airline personnel; aircraft delivery delays from Boeing, and higher costs.
While Norway is seeing a variety of new hotel openings, Norwegian hytte (simple country houses) and camping are seeing improved opportunities because of rising hotel rates and diminishing purchasing power amongst local consumers. Concerns about overtourism will lead to stricter regulation of short-term rentals, as well as the implementation of fees on overnight stays.
Overall, Norwegian consumers have largely returned to pre-pandemic behaviour and trends, including a tendency to book in advance and search for discounts, while online booking has only been reinforced by the experiences of the COVID-19 crisis. Notably, travel intermediaries have noted an increase in the booking of package tours and Norwegian fjord cruises.
During the forecast period, the Norwegian travel market is expected to benefit from the blurring of seasonality. As travellers look for more affordable options, many will try to avoid “high season”, when prices tend to be higher.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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