More people are choosing to vacation in Sweden. But it is not the weak Swedish krona that is primarily driving the development.
SEK 337 billion. That's how much the tourism industry turned over in 2018, an increase of six percent compared to 2017.
”"Tourism is growing steadily and in terms of trend, it is increasing faster than Sweden's total exports," says Sofi Sjöberg, analyst at the Swedish Agency for Economic and Regional Growth.
In Sweden, tourism is increasing most among foreign visitors and in metropolitan regions. Foreign tourists' consumption is up eight percent compared to the previous year, accounting for just over 40 percent of total tourism turnover. Swedish tourists have also spent more money, with consumption among them increasing by five percent.
It is not just in Sweden that tourism is increasing. International travel is also increasing globally. A development that is driven by greater prosperity among the middle class, especially in China and India.
According to Sofi Sjöberg, international developments are more important for growing Swedish tourism than a weak Swedish krona.
”"It is often said that Sweden is attractive because we have a weak krona. But if you look over time, you cannot see any strong correlation between the krona exchange rate and tourism in Sweden," she says, highlighting that flight connections and transport options probably influence travel decisions to a greater extent than the exchange rate."”
Over time, tourism has increased regardless of the exchange rate. A stronger krona therefore need not deter tourists from traveling to Sweden.
”"Against Norway, which is our largest cross-border trade market, the krona has actually strengthened and despite that, consumption is still increasing," says Sjöberg.
Border trade with Norway has expanded significantly in recent years and is an important part of Sweden's tourism exports. Norwegians trade in Sweden for up to 20 billion kronor each year, according to Sjöberg.
Source: TT
