Industry revenue of “travel agency activities“ in Austria 2012-2024
Moreover, with the outbreak of Covid-19, latest forecasts suggest that revenues are expected to decline in the short to medium term, as industry operations have come to a near stand-still. Austrian airlines has suspended all of their flight operations until the first week of May and so have majority of the hotel chains and resorts. According to think.ing.com, the Austrian tourism sector could lose up to 14 billion euros in revenues this year if the situation does not improve in the short term.