The coronavirus pandemic has led to a sharp decline in tourism in Sweden. The number of guest nights at hotels, campsites, holiday villages and hostels fell by 36 percent in 2020, compared to 2019, according to statistics from the Swedish Agency for Economic and Regional Growth.
During the period March-December, when the pandemic had an impact, this was a loss of 41 percent.
”"It was a historically bleak year for the tourism industry with large losses in revenue and many layoffs. The recovery we have seen in the industry has not been evident in the service sector, but hotels and restaurants have been hit hard by the pandemic and the restrictions. Unfortunately, the problems look set to continue during the first half of 2021, until the infection is under control," says Kristian Seth, Head of Analysis at the Swedish Agency for Economic and Regional Growth, in a comment.
Accommodation revenues for hotels, camping, holiday villages and hostels amounted to SEK 16.8 billion in 2020, a decrease of SEK 14.7 billion, or 46 percent, compared to 2019.
Swedish guest nights decreased by 24 percent in 2020, while foreign guest nights decreased by a full 70 percent.
The crisis is also reflected in affected share prices. Pandox, which owns and manages hotel properties, has lost almost 38 percent on the Stockholm Stock Exchange over the past year. The Scandic hotel chain is down even more during the same period, down almost 55 percent.
Source: Direct News Agency
