The Austrian tourism industry was hit particularly hard by the corona pandemic, because due to lockdowns, strict entry and quarantine regulations and bans on accommodation, demand had temporarily collapsed to almost zero. Businesses have since recovered.

The domestic accommodation establishments in January still had around a third (-32,6%) fewer overnight stays than in the same period in 2019, the gap had reduced to an average of 15,3% by July. This clear upward trend is mainly due to the first half of the 2022 summer season (May to July), when, with 37,2 million overnight stays, the pre-crisis level was almost reached again (‑4,3%).

Despite an increasing recovery in the tourism industry since the beginning of 2022, the general conditions for the tourism industry remain difficult. On the one hand, there is uncertainty about the further course of the pandemic, on the other hand, the development of the European and Austrian economy is being hampered by the energy crisis and high rates of price increases. This uncertainty is already apparent in the current WIFO business survey from August 2022, with companies referring to the current employment and business situation. Although sectoral employment in July was higher than in July 2019, unemployment in the industry has been showing a downward trend since July 2021 (with the exception of the lockdown month of December 2021) compared to 2019. The labor shortage that the industry has repeatedly complained about is likely thus be associated with a lower volume of work despite increasing employment.

Economic uncertainties remain high as the winter of 2022/23 progresses: If gas supplies from Russia are restricted or even stopped completely, a recession in Europe is likely. In addition, inflation will continue to rise until the end of the year and thus significantly dampen the effective demand of private households in Austria, but also in the most important countries of origin of the Austrian tourism industry. The price increases for essential goods such as electricity and food in particular will force many households to reallocate their budgets - this will be at the expense of "luxury goods", which also include tourist services and holiday trips. It is likely that many households will limit their holiday travel spending. It remains unclear which savings strategies are being pursued: avoiding vacation trips and/or cutting expenses (shorter vacations, cheaper accommodation, alternative destinations, etc.). It is not yet possible to foresee which strategies households will be pursuing for the coming winter season. In addition, there are also possible restrictions on the supply side, which could become necessary primarily due to the energy shortage.