Germany’s carnival season to generate nearly 2 billion euros in revenue, says institute
#German Economic Institute #Carnival #Revenue #Cologne #Consumer spending #Hospitality #Economic forecast
📌 Key Takeaways
- Germany's carnival season is expected to generate record-level revenues of nearly 1.7 billion euros.
- The hospitality and catering industries are the primary beneficiaries, accounting for a major share of the total spending.
- Major carnival strongholds such as Cologne and Düsseldorf remain the central drivers of this economic activity.
- The 2024 season marks a significant stabilization of the event's commercial impact after several years of COVID-19 volatility.
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🏷️ Themes
Economy, Tourism, Culture
📚 Related People & Topics
Carnival
Christian festival before Lent
Carnival (known as Shrovetide in certain localities) is a festive season that occurs at the close of the Christian pre-Lenten period, consisting of Quinquagesima or Shrove Sunday, Shrove Monday, and Shrove Tuesday or Mardi Gras. Carnival typically involves public celebrations, including events such ...
Consumer spending
Total spending by a set of households
Consumer spending is the total money spent on final goods and services by individuals and households. There are two components of consumer spending: induced consumption (which is affected by the level of income) and autonomous consumption (which is not).
German Economic Institute
Liberal economic think tank In Cologne, Germany
The German Economic Institute (German: Institut der deutschen Wirtschaft Köln e.V.) (IW) is a private economic research institute in Germany, which promotes an economic liberal order. The German Economic Institute is based in Cologne, Germany, with additional offices in Berlin, Germany, and Brussels...
Cologne
Largest city in North Rhine-Westphalia, Germany
Cologne ( kə-LOHN; German: Köln [kœln] ; Kölsch: Kölle [ˈkœ̂lə] ) is the fourth-most populous city of Germany and the largest city of the German state of North Rhine-Westphalia with nearly 1.1 million inhabitants in the city proper and over 3.1 million people in the Cologne Bonn urban region. Colog...
Revenue
Total amount of income generated by the sale of goods or services
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of a business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees.
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Connections for Carnival:
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- 👤 Mardi Gras (1 shared articles)
- 🌐 King cake (1 shared articles)
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📄 Original Source Content
BERLIN, Feb 9 - Germany’s carnival season, whose celebrations will peak this week, is set to generate nearly 2 billion euros ($2.36 billion) in revenue this year, according to a study by the German Economic Institute seen by Reuters on Monday.