Hungarian Travel Agencies Have Doubled Their Turnover

After the summer, autumn could be much better than a year ago. Business tourism is also booming, the Hungarian business daily Világgazdaság reports.

The summer has been better than expected, with travel agencies fully booked up for charter flights to the seaside and at least double last year's revenues in July and August, Judit Molnár, the newly re-elected president of the Association of Hungarian Travel Agencies (MUISZ), told the paper. Although the turnover increased significantly, it has to be noted that the base for comparison was very low because last year, travel agencies realized revenues of only HUF 54 billion instead of 271 billion, which is 20% of the 2019 summer figure. Moreover, most of this amount was realized in the first quarter of 2020, before the pandemic broke out.

The devastating impact of the coronavirus epidemic can also be seen in the number of members of the association, which fell from 212 to 174.

"Following the lifting of prolonged restrictions and border closures, the summer saw a sudden surge in outbound travel. Suddenly, everyone who could wanted to go, and as soon as possible, because many feared that the relaxation would again be temporary," Judit Molnár explained. The ever-changing situation and the different regulations in different countries meant that more young people than ever before were travelling in organised trips with travel agencies, while fewer older people were afraid of the inconvenience of traveling abroad.

According to experts, business tourism is also booming. Following the positive experiences of the summer, travel agencies expect tourism to continue in the autumn," the head of the association added. She is confident that although the fourth wave of the pandemic is on us, the leaders of both Hungary and European countries promised that they will no longer shut down the economy and close borders. Vaccination is available everywhere in Europe, reducing the risk of infection and serious complications, Világgazdaság reports.