In The Presence of Leading Worldwide Investors: HOTCO - The Prestigious Hotel Investment Conference Launched in Vienna

Yesterday (Mon), HOTCO - premier international hotel investment conference, was launched in Vienna.

The important and leading conference focuses on hot spots for hotel development in Central and Eastern Europe and beyond. HOTCO showcases the forefront of global trends. The event taking place in Vienna on January 20-21, 2025, is attended by leading investors, entrepreneurs, hotel companies, real estate funds, and bankers who emphasize creativity to succeed in the industry and discuss hotel deals.

During the opening of the HOTCO conference in Vienna, several key trends and statistics in the tourism world were presented:

Employment in Tourism: Today, 1 out of 5 new jobs worldwide is in tourism.

Photo: Passport News HOTCO

Albania on the Rise: Albania, previously dubbed the "North Korea of the Balkans" during its communist period, is now experiencing rapid growth.

Tirana Airport registered an amazing increase of 350% over the past four years, from 3.2 million passengers to 10.7 million. The airport now has 110 direct routes and plans to increase the number of flights to Tel Aviv to up to 8 flights daily. Additionally, in 2025, a new airport is expected to open to handle the increase in traffic.

Vienna Recovering: The city of Vienna is beginning to return to 2019 levels, though at higher prices. The Vienna Convention Bureau celebrates 25 years of operation and continues to promote business and leisure tourism, aiming to ensure year-round tourism.

Today, MICE tourism (Meetings, Incentives, Conferences, and Exhibitions) accounts for 1 out of 9 stays in the city, with double the income compared to leisure tourists.

Increase in Tourism in Austria: Austria has seen a 30% price increase due to inflation since 2019, but the industry will need an additional 3-4 years to reach the profitability levels it knew in 2019.

Trends in Tourism: Tourism, once considered a luxury, is now regarded as a major need, indicating a shift in the consumer's needs landscape in the post-pandemic era.

The F1 Effect: The Formula 1 Grand Prix generates significant economic impact with 4,000 international employees for 4 days. 100,000 visitors per day for 3 days, with 70% foreigners. The event includes extensive media exposure, giving the city an international profile.

Revenues from Sports Tourism: The sports tourism sector is expected to generate $600 billion in 2024, with forecasts to grow to $900 billion by 2028.

Photo: Passport News / HOTCO