Eastern Europe

Lodging operators remain under intense pressure with regards to price in 2023. All operating expenses have increased at an unprecedented rate (well above the general inflation), putting upward pressure on lodging prices. With the cost of living…

Consumer demand for outbound travel remains strong in 2023, despite the ongoing cost of living crisis, and this has enabled travel intermediaries to register a strong performance in terms of booking sales. Travellers are taking advantage of…

In 2023, air passenger traffic continues to recover from the harsh fallout caused by the COVID-19 pandemic, with retail value sales nearing pre-pandemic levels. Slovaks are returning to similar air travel patterns as seen before the pandemic, spurred…

The absence of overhaul flights from Prague to destinations in the USA and Asia impacts the recovery of inbound tourism in 2023. As such, it is yet to reach pre-pandemic levels. Furthermore, many tourists from the USA are put off travel to Eastern…

Demand for domestic tourism is benefiting from changing consumer behaviour, underlined by the legacy of the COVID-19 pandemic years and the economic crisis. Czech consumers increasingly prefer shorter distances-something that was preferred in the…

Luxury hotels see the slowest recovery due to a gradual return of foreign tourists to the Czech capital and growing inflationary pressure on overseas and domestic tourists, translating into lower spending power. The luxury category also shows the…

The cost of living crisis has not had a significant impact on Czech consumers' appetite for travel. Following the pandemic, Czechs are looking to travel abroad after two years of travel restrictions, when many consumers spent holidays at home. As…

Following an uplift in price points in 2022, the rise in flight ticket prices slowed down in 2023 due to stabilising energy prices, high levels of competition on the landscape, and growing flight capacity. However, a return to 2019 prices is not…

Although corruption is a problem, the Czech Republic has strong adherence to economic freedom and solid government finances. Economic growth is set to slow amidst persistent inflation, but the foreign investment landscape is vibrant. Whilst…

A low tax burden adds to Hungary’s economic freedom, but corruption remains an issue and state finances are under pressure. Economic performance has outpaced peers and unemployment is low, but inflation remains very high and will adversely impact…

Alongside the rising preoccupation for health and wellness among the population, consumers are becoming increasingly knowledgeable and want to track more of their health parameters (eg heart rate, oxygen blood level, burn calories, water intake,…

With the pandemic being declared over by the World Health Organisation in early 2023 most consumers have now returned to their old lifestyles and behaviour. The rising mobility of the population has helped to drive strong demand for wireless speakers…

For the second year in a row, sales of smartphones are declining in retail volume terms in 2023. This is partly due to the fact that the category is reaching maturity. In the current economic context, Romanians are postponing large, non-essential…

In 2022, the Romanian car market increased by 7% in volume terms, but this was mostly due to purchases of new vehicles, with sales of second-hand cars falling by 20%. This had a negative effect on the performance of in-car entertainment, which…

Imaging devices has continued to record a steep decline in retail volume terms in 2023. Romanians increasingly regard these products as redundant in the era of high-performance smartphones. Furthermore, high inflation and economic pressures have led…

Sales of home video declined in 2022 in retail volume terms with this trend continuing into 2023. This is mostly due to increasing pressure on consumers’ disposable income with Romania experiencing elevated rates of inflation which has led to a sharp…

Sales of home audio and cinema continue to decline in 2023, continuing the pattern seen over the review period. This decline has accelerated in 2022/2023 in part due to the rising mobility of Romanians. During the pandemic some products such as home…

Consumers are increasingly consuming entertainment through their mobile devices in Romania, including when outside home and on the move with this making a positive contribution to the growth and development of headphones. Furthermore, rising mobility…

After a strong performance in 2020 and 2021, sales of consumer electronics moved into negative territory in 2022 in retail volume terms, mainly as a result of the impact of double-digit inflation on unit prices, the economy and cost of living. Sales…

Sales of computers continue to decline in retail volume terms in 2023. This is partly down to the uncertain political and economic context, but also due to the strong performance seen during the pandemic. Tablets is seeing the strongest decline.…