The negative development evident in last month’s report has subsided slightly for some of the macroeconomic key figures. Amongst these figures are the confidence indicator for households that increased by 0.9 units and the value of the Swedish Krona which strengthened relative to both the Euro and USD.
However, multiple key figures have continued to decline. Firstly, the unemployment rate reached 7.8, percent which is the highest measured level in over one year. Secondly, the expectations expressed by hotel companies regarding demand over the next three months declined. More than half of the surveyed hotels anticipate a decreased demand, reflecting the growing pessimism in line with the sustained market pressures.
Thirdly, the CPIF, which had been decreasing over the past 8 months following historically high levels at the end of 2022, reversed its trend by increasing in October.
Please download the market report here:
Hotel Market Update Annordia Nov/23.pdf