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Industry revenue of »hotels and similar accommodation« in Slovakia 2011-2023

The revenues of the hotels and similar accommodation industry in Slovakia grew from 283 million U.S. dollars in 2011 to 473 million U.S. dollars in 2019, backed by the growing number of tourist arrivals, increased overnight stays in short stay accommodations as well as hotels and favorable governmental policies, such as a reduced VAT rate. As per initial projections, revenues were forecast to grow to over 500 million U.S. dollars in the short term. However, the outbreak of the Covid-19 has resulted in an economic slowdown and the hospitality industry is one of the worst affected, therefore the industry might not experience the projected growth in the short to medium term. Over 800 cases have been reported thus far and the capital city of Bratislava is the worst affected, with over 200 confirmed cases.

A state of emergency has been declared in the nation, and majority of the industries have been shut, including most hotels & restaurants.

Industry revenue of »hotels and similar accommodation« in Slovakia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Slovakia. The industry “hotels and similar accommodation“ has the code “I551“.

Details on the methodology can be found here.

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