Net income of Ukrainian travel companies increased by one third in the first half of 2024 – study
29 October 2024 10:56
Travel companies generated more net income in 2023 than in pre-war 2021. In 2024, the sector continued to grow and in the first half of 2024, the increase was almost 29% compared to the same period in 2023. This, according to Diia.Business, was found out by YouControl.Market experts who analyzed changes in the tourism sector during the great war, Komersant ukrainskyi
reports.
In the language of numbers
The total net income in the tourism sector of Ukraine in 2023 amounted to UAH 16.3 billion, which is more than 18% more than in 2021 (UAH 13.8 billion) in nominal terms. In 2023, the 20 largest companies generated more than a third – almost 36% of the sector’s revenue.
A significant increase occurred in the first half of 2024: the sector reached UAH 5.8 billion, which is almost 29% higher in nominal terms than in the same period in 2023. This increase may indicate an increase in tourist flows in the country, which is due to the difficulty of traveling abroad for men, logistics and transportation problems.
Which regions have the highest tourism revenues?
Kyiv remains the leader. Revenues of travel companies registered in the capital amounted to UAH 3.1 billion in the first half of 2024, which is almost 54% of the net income of all companies in the industry. Kyiv also has the largest number of travel companies registered – 817, which is 38.9% of the total number of active companies in the country.
Lviv region ranks second: revenue for the first half of 2024 amounted to UAH 1.1 billion (19.1%). There are 229 companies registered in the Lviv region, which is 10.9% of the total number of active companies in the country.
Ivano-Frankivsk region ranks third in terms of revenue: 69 companies are registered here, accounting for 3.3% of all companies in the country, which generated almost 15% of the country’s total sector revenue – over UAH 852.2 million.
Companies in Zakarpattia region generated UAH 208.7 million in net income (3.6%). Other top ten regions are Kyiv region – UAH 146.7 million (2.5%), Poltava region – UAH 120.4 million (2%), Odesa region – UAH 88.4 million (1.5%), Dnipro region – UAH 63.5 million (1%), Chernihiv region – UAH 19.4 million (0.9%), and Ternopil region – UAH 17 million (0.3%).
Which companies in the tourism sector have the highest revenues
The top ten largest companies by net income in the first half of 2024 included two companies from Ivano-Frankivsk region, two from Lviv region, and 6 more from the city of Kyiv. Seven companies are hotel complexes, and three more operate as tour operators.
