The confidence of tourists in Germany has collapsed below the plinth: hotels in Turkey are seriously scared

The confidence of tourists in Germany has collapsed below the plinth: hotels in Turkey are seriously scared

Not only Russian tourists from -due to the current political situation, they may not reach Turkish resorts – anti-Russian sanctions will lead to the collapse of the German tourist flow, which in Turkey, in the absence of Russians, is very much counting on. This assessment was voiced in the pages of the travel media, publishing disturbing news about the “fall in consumer confidence” in Germany, high inflation and frightening forecasts of a recession – i.e. slowdown in economic growth in the “industrial flagship” of the European Union.

According to the published, consumer confidence in Germany fell to the lowest level in history after the second fall of the euro in a row. Decreased as the “theoretical” economic prospects and income expectations of the Germans, and their practical propensity to buy – including tours. Turkish media cites data from the Nuremberg-based research firm GfK's “Consumer Climate” study, and according to it, consumer confidence in the country has fallen to its lowest level since 1991 – that is, for the entire time of measurements. And since February-March, the mood has only worsened. Against this background, “the propensity of the German population to save” increased. That is, Germans are not ready to spend money on pleasures – including trips that people in Turkey really rely on – in droves.

GfK consumer relations specialist Rolf Buerkl named two reasons – this is the situation in Ukraine and high inflation, partly due to “comprehensive sanctions against Russia”, which led to higher energy prices. “High inflation has significantly reduced purchasing power. The last time earnings expectations in Germany were worse than this was in February 2003,” says the expert. All this combined “destroyed hopes for a post-pandemic recovery.” At the same time, the GfK report draws attention to the fact that the restoration of consumer confidence is possible only with any resolution of the alarming situation with inflation, energy prices and other problems.

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