The travel industry in Romania is poised for continued growth in 2024, with notable increases in both inbound arrivals and outbound departures, reflecting a surge in the number of trips taken. This positive trend can be attributed to the easing of inflationary pressures and the moderation of price increases for both domestic and international destinations.
The growing enthusiasm of Romanians for international travel, along with the sizable number of Romanians living and working abroad, is expected to contribute to a significant increase in the number of people travelling by air in 2024. At the same time, retail value growth will be largely driven by higher ticket prices, stemming from ongoing elevated fuel and operating costs, continuing from 2023.
With the number of outlets expected to remain stable in 2024, growth in hotel revenue will be driven by an increase in the average daily room rate, influenced by rising utility costs, a labour shortage, and an increase in the minimum wage. Additionally, overall sales value will benefit from the use of holiday vouchers distributed to many Romanians, which will encourage domestic leisure tourism.
The importance of travel intermediaries is expected to grow significantly in 2024, alongside an increasing demand for tourism and the rise of flexible working arrangements that allow for more holidays throughout the year. These businesses are becoming the primary channels for facilitating early booking reservations, with the summer season being a key beneficiary of this trend.
The primary factor influencing the development of the travel industry in Romania over the forecast period will be the high cost of living, which continues to impact a significant proportion of the population. However, the desire to travel will remain strong, with many Romanians willing to sacrifice other expenses throughout the year in order to be able to afford to go on holiday.
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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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