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Hotels and restaurants: Has the downturn finally been stopped? Industry spotlight

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  • Matthias Balz

Abstract

In the last ten years the hotel and restaurant trade, the central area of the tourism industry, has witnessed declining turnover. In 2002 this development worsened: turnover decreased nominally by around 3.6% over the previous year. In parallel a personnel reduction of 16.7% since 1994 has occurred. The hope for a trend change now lies in the "record" summer of 2003. There are initial indications that the economic downturn in the hotel and restaurant trade has come to an end.

Suggested Citation

  • Matthias Balz, 2003. "Hotels and restaurants: Has the downturn finally been stopped? Industry spotlight," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(18), pages 25-30, September.
    • Handle: RePEc:ces:ifosdt:v:56:y:2003:i:18:p:25-30
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    File URL: https://www.ifo.de/DocDL/ifosd_2003_18_4.pdf
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    More about this item

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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