A recent study by the Institute of the German Economy (IW) has predicted that this year’s Carnival season will likely lead to record-breaking sales in the tourism industry, with an estimated increase of around 2.1 billion euros. The researchers attributed the sales growth primarily to price increases in the gastronomy, retail and hotel sectors.
For instance, a price surge of nearly 80 percent was observed in Cologne, with the average increase in hotel overnight stays amounting to 105 euros. In contrast, the price increases in other major cities such as Mainz, Berlin and Düsseldorf were marginal. In Aachen and Bremen, hotel prices remained stable, while Munich even recorded a price drop of nine euros per night over the Carnival period.
The record-breaking numbers are likely linked to the unusually long Carnival season of 115 days this year, according to IW Director Michael Hüther. “The psychological effect of the fifth season should not be underestimated, as Carnival stands for togetherness and optimism. Values that we need more than ever in times of global crises and uncertainty.” However, the study also noted that the high sales come with increased expenses for security, cleaning and the like.