Joe McClain - Jan 24, 2011

Businesses will still have to deal with the impact of financial crisis in 2011. However, forecasts say that the year will be particularly successful for German tourism industry.


The representatives of German Commerz Bank believe that the year 2011 will be very good for tourism industry. According to the news published on, travel expenses in Germany will continue to rise. Several studies done by Commerz Bank show many businesses will raise their budget for business travels again in 2011. Tourists too will spend more money on traveling, especially abroad.

In 2010, after the financial crisis tourists were still careful with their money. However, the promising beginning of 2011 has encouraged them to spend more. According to forecasts, the amount of money spent on traveling abroad could reach the record sum of 61.3 billion euro in Germany. The figures from incoming tourism could reach even the numbers from the year 2008. The Commerz Bank expects an income of 27 billion euro, which would be approximately the same amount as in 2008.

Unfortunately, the impact of financial crisis will continue to influence businesses yet for some time; however, according to the studies German economy has already recovered from the effects of the crisis. Nevertheless, nobody can be sure that similar situation will not happen again in future and make both businesspeople and tourists postpone their travel plans.

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