Volume of services delivered to Romanian households up 1.5% y/y in Jan-Feb

The volume of services delivered to Romanian households increased by 1.5% y/y in January-February and by 0.7% y/y in February alone, according to data published by the statistics office INS.

The sector of hotels and restaurants (HoReCa) posted a disappointing +0.7% y/y advance after a significant 2.3% y/y contraction in February, most likely because of the warm weather not favorable to the skiing in some of the country’s resorts.

In contrast, the activity of gambling and other recreational activities increased by 4.6% y/y in the first two months of the year after the +13.6% y/y advance in February.

The activity of tour operators plunged by 13% y/y in February after impressive growth in January, resulting in an average 0.5% y/y decline for the first two months of the year.

The growth rate in the sector was +5.9% y/y in 2023 when the volume of services delivered by HoReCa surged by 32% y/y.

The gambling industry posted a 4.3% y/y contraction in 2023. The tour operators also ended the year with a 5.2% decline compared to 2022 – despite Romanians spending more on holidays abroad.

(Photo source: Nuthawut Somsuk/Dreamstime.com)