Spending Like There’s No Tomorrow While Traveling Abroad
Hungarians Spent the Most in Austria
Hungarians are showing a strong appetite for foreign travel, with the amount spent on trips abroad increasing significantly in 2023. According to data from the Hungarian Central Statistical Office (KSH), Hungarian tourists spent a total of HUF 1,585 billion (EUR 4 billion) on travel and other goods and services last year, almost one and a half times more than the previous year. The number of trips taken by Hungarians abroad also saw a notable increase, with 25 percent more days spent overseas compared to 2022.
The surge in spending can be attributed to a combination of factors, including a rise in the number of trips taken and an increase in the duration of these trips. Hungarians showed a particular fondness for traveling to Austria, where they spent HUF 267 billion (EUR 679 million), as well as Germany, where they spent HUF 183 billion (EUR 465 million). These figures represent a significant increase from the previous year, indicating a strong appetite for international travel among Hungarian tourists.
Bank360’s analysis highlights that the total amount spent by Hungarian tourists abroad in 2023 reached a record high, surpassing the previous year’s figures by 47 percent. Despite the challenges posed by the global pandemic, Hungarians seem keen on exploring new destinations and indulging in leisure and shopping activities abroad. The data from KSH also indicates that Hungarian citizens embarked on 21.1 million trips abroad in 2023, spending a total of 65.4 million days overseas.
While the numbers are encouraging, they are still shy of the record levels seen in 2019, when Hungarian tourists traveled abroad more than ever before. The positive trends observed in 2023 suggest a promising outlook for the tourism industry, with Hungarians displaying a strong willingness to explore new destinations and engage in international travel.
