Romanian tourism will record its best results in over a decade this year and the hospitality sector will be boosted by the holiday vouchers distributed to public sector employees.

The total turnover of the companies in the hotels, restaurants and cafes (HoReCa) sector will go over RON 15 billion (EUR 3.2 billion) this year, according to local consultancy firm Frames.

The local hotel sector grew by 40% in the last five years, reaching a turnover of over RON 5.5 billion (EUR 1.2 billion) in 2017. This year, the business in this sector may reach RON 5.8 billion.

Meanwhile, the restaurant sector may pass the RON 10 billion (EUR 2.15 billion) mark this year, more than double compared to five years ago, due to higher domestic consumption.

The local HoReCa industry has about 16,000 active companies, almost 10,000 of which in the restaurant sector. The number of employees in local restaurants stood at over 82,000 in 2017 while 45,000 people worked in hotels and guesthouses. The profitability of the hospitality companies has also improved significantly in recent years, according to Frames.

Bucharest is the biggest hospitality market in Romania, standing for about 30% of the local hotels’ revenues and 40% of the restaurant business.

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editor@romania-insider.com