Services to households in Romania up 22.3% YoY in January

The volume of services delivered to Romanian households increased by 22.3% YoY in January, the statistics office INS announced.

The growth was close to the average in the segment of hotels and restaurants (+23.6% YoY), while the tour operators reported a much faster advance (+44.6% YoY).

The increase comes on top of a robust recovery of the market of services for households in Romania over the past couple of years – after the severe contraction during the Covid year 2020.

The Romanian households purchased 26.3% more services in 2022 compared to 2021 (+25.1% YoY in Q4). Compared to 2019, the volume of services purchased by Romanian households last year increased by 18%, surpassing the 5% advance of real wages.

The increase was more visible in the sector of hotels and restaurants (+27%), where the average was pushed up by the restaurants (+32% YoY).

From a longer-term perspective, the market of services to households increased slightly faster than the real wages: by 72% in 2022 vs 2015, compared to a 62% advance of the real wages.

The volume of services delivered by restaurants surged by 145%, while the segment of hotels lagged behind with a significantly slower 43% advance over the seven-year period.

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