04.12.2020

"The (Correct) Tourism Figures Please!"

Op-ed by WIFO Economist Oliver Fritz in the Daily Newspaper "Der Standard"

What economic significance does tourism have in Austria? There are various figures circulating in the debate that often exaggerate the sector's economic contribution. Furthermore, from an economic point of view, it makes sense to look at tourism and leisure activities separately when they are often represented as one sector. A guest commentary by Oliver Fritz.

The question of whether Austria's ski resorts should remain closed over the Christmas holidays or start operating again after the current lockdown is now bothering half of Europe. As so often since the outbreak of the COVID-19 pandemic, it is a matter of reducing health risks on the one hand and economic damage on the other. In order to be able to make a political decision on this issue, it is important to be able to quantify the potential damages and thus challenges that lie ahead. In the public discussion, however, various figures are circulating on the economic significance of the Austrian tourism industry.

Please find the complete commentary (in German) here.