Reports SLOVENIA - MARKET REPORT
Prior to Covid the Ministry of Economic Development and Technology launched a
Strategy for the Sustainable Growth of Slovenian Tourism for 2017-2021. They were aiming to bring in up to 5.5 million tourist visits and
between 16 million and 18 million overnight stays and increase international
tourism receipts to up to €4bn.
When Covid hit the economy slumped by more than seven per cent in 2020. According to the Ministry of Finance, public debt in Slovenia decreased by almost five per cent points in 2021 compared to 2020. Tat year public debt amounted to almost 80 per cent of GDP and by 2021 this had dropped to almost 75 per cent.
GDP in 2021 increased by 8.1 per cent in real terms whilst the fourth quarter of 2021 saw a 10.5 per cent increase compared to the same period in 2020.
Projected growth for 2022 is around five per cent and despite Russia’s invasion of neighbouring Ukraine, the first three months of this year saw an increase of one per cent quarter-on-quarter according to the Slovenian Central Bank.
Employment has increased by 1.4 per cent mainly in manufacturing, construction, health care and social affairs. By the end of 2021 the unemployment rate was 4.6 per cent (0.7 per cent lower than at the end of 2020).
Tourism plays a big part in the economy. In 2021 some four million tourists (1.8m foreign visitors) visited Slovenia and 11.3 million tourist overnight stays (4.8m foreign visitors) were recorded.
Tis data is significantly higher (31 per cent more tourist arrivals and 22 per cent more overnight stays) than 2020 figures, but below the level recorded in 2019 pre-Covid (35.7 per cent less tourist arrivals and 28.7 per cent less overnight stays) with 6.2 million tourist arrivals and 15.8 million overnight stays in 2019.
During the first 11 months of 2021 some €1.36bn was generated from travel exports, which is 17.7 per cent more than the same period in 2020, but almost 49 per cent less than in the same period in 2019 when the value of travel exports reached €2.66bn.
Prior to Covid the Ministry of Economic Development and Technology launched a Strategy for the Sustainable Growth of Slovenian Tourism for 2017-2021. Tey were aiming to bring in up to 5.5 million tourist visits and between 16
million and 18 million overnight stays and increase international tourism receipts to up to €4bn.
Te majority of foreign tourists came from Germany, followed by Austria, Italy and Czech. Te ‘Garden of Europe’ or ‘Europe’s Lung’ tag line often associated with Slovenia promotes and highlights the country’s picturesque scenery and outdoor life.
Te country anticipates almost no Russian or Ukrainian visitors this year whilst other visitor figures may also be affected. As in other countries, trade is also affected and rising energy costs are causing problems. Tere are some plans in place with an allocation of €140m to stimulate investments in public infrastructure, accommodation capacities and tourism products whilst the Slovenia Tourism board is looking to target Austrian, German, and Italian visitors.
Minister of Economic Development and Technology, Zdravko Počivalšek, said: “Te Covid-19 pandemic showed the importance of
WIRE / PULSE / INSIGHT / REPORTS P93
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