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In the heart of Germany, North Rhine-Westphalia's hospitality industry is navigating a complex economic landscape. While the region has witnessed a surge in employment in the sector, the turnover figures paint a more challenging picture.
According to the latest data, the turnover in the North Rhine-Westphalian hospitality industry decreased by 11.7% compared to June 2019. This decline is attributed to the ongoing post-pandemic recovery and the industry's sensitivity to changes in consumer behaviour and economic conditions.
However, it's important to note that this decrease is not uniform across all sectors. For instance, the beverage-focused gastronomy sector has experienced a more pronounced decline, with turnover now 29.6% below pre-COVID levels, and a 13.3% decrease compared to June 2022. On the other hand, the real turnover in other accommodation services, such as private quarters and hostels, increased by 4.7% in June 2023.
Amidst these fluctuations, the region's workforce in the hospitality industry has expanded significantly. The number of employees in the North Rhine-Westphalian hospitality industry in June 2023 was 33.4% higher than in June 2022. This surprising figure, however, lacks a current explanation.
In a positive development, the decline in real wages observed in previous quarters has halted in North Rhine-Westphalia. Nominal wages in the region increased by 6.3% in the second quarter of 2023, outpacing the 6.2% increase in consumer prices. This wage growth is higher than the increases observed in both the manufacturing and service sectors.
As the economic recovery continues, the hospitality industry in North Rhine-Westphalia faces both challenges and opportunities. While the industry grapples with a decrease in turnover, the region's workforce expansion offers a promising sign for the future. For a more detailed analysis and comparison across sectors, local economic reports or industry-specific studies would be necessary.
In the context of North Rhine-Westphalia's hospitality industry, the real turnover in the beverage-focused gastronomy sector has seen a significant decrease, currently standing at 29.6% below pre-COVID levels, and a 13.3% decrease compared to June 2022. On the contrary, the real turnover in other accommodation services, like private quarters and hostels, increased by 4.7% in June 2023, indicating a difference in performance between sectors within the industry. Meanwhile, the finance sector has also shown progress, as nominal wages in North Rhine-Westphalia increased by 6.3% in the second quarter of 2023, exceeding the increase in consumer prices, suggestive of growth in employee earnings within the sector.
