THE ROLE OF ACCOMMODATION, FOOD SERVICE AND HOSPITALITY IN THE HUNGARIAN ECONOMY IN 2008-2023
THE ROLE OF ACCOMMODATION, FOOD SERVICE AND HOSPITALITY IN THE HUNGARIAN ECONOMY IN 2008-2023
Éva DARABOS, Anita KISS, Orsolya Tünde NAGY
Institute of Accounting and Finance, Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary
darabos.eva@econ.unideb.hu
kiss.anita@econ.unideb.hu
nagy.tunde@econ.unideb.hu
Abstract: The economic crisis that began in 2008 is now regarded as a historical fact – it was the first major crisis of the 21st century and caused a significant downturn in various sectors of the economy, particularly in lending. After nearly a decade of slow recovery, by 2019, economic indicators in most countries had reached record highs. Then, without much warning, the COVID-19 crisis emerged, creating an unprecedented global health, social, and economic “emergency” that also caused serious disruptions in Hungary. The travel and tourism sector was among the most heavily impacted, with demand dropping significantly at global, regional, and even local levels, and in some cases, coming to a complete halt due to strict travel restrictions such as border closures and the shutdown of restaurants, hotels, and entertainment venues. Although the acute phase of the crisis brought on by the coronavirus had passed by the summer of 2023, many sectors of the economy continue to experience its substantial short-and long-term aftereffects. This study focuses on the most affected sector – tourism – and examines the impact of the crisis on it. It explores the development of employment and gross average wages between 2008 and 2023, with special attention given to indicators characteristic of the accommodation and food service industry, such as the number of guest nights, the number of commercial accommodation establishments, and the revenue from domestic and international accommodation services.
Keywords: crisis; tourism and hospitality; employment; sustainability.
JEL Classification: G12; G15; G32.
