In the winter season, most of the Germans are not waiting for the Christmas holidays and trips to warm sunny countries, and rising utility bills and massive bankruptcies of industrial enterprises. Which in turn will affect the solvency of the Germans and the state of tourism in Germany, including domestic. The reason is obvious – sanctions against Russia and soaring energy prices.
“The energy crisis is wreaking havoc on the German economy and could lead to a crisis,” the Munich Institute for Economic Research said in a statement. With electricity prices rising due to rising gas prices in 2023, economists and officials in Germany are expecting a recession, and ordinary people are expecting astronomical bills.
For example, 40% of Germans predict that it will be difficult for them to pay their electricity bills in winter, and even that they may not be able to pay them. Most of all, according to a survey by the German public radio ARD, low-income people and “young professionals” are the most worried. For example, 58% of those with a monthly net household income of less than 1,500 euros expect that it will be difficult for them to pay their electricity bills in winter. But even in the higher income group – those whose income is up to 3,500 euros – almost half, or 47%, are worried about this. And another 50% of respondents under the age of 35 expect winter energy costs to be a “big nuisance” essential to family budget planning – including travel. And besides, 83% of Germans are afraid of coming unemployment. Including in the tourism sector.
No wonder: the country threatens to face a wave of bankruptcies, said Klaus Ernst, chairman of the Energy Commission of the German Bundestag. “We have introduced seven packages of sanctions – so what? – Gazprom is making record profits, and in a few months we are threatened by a wave of bankruptcies. Therefore, we need unbiased negotiations with Russia,” the politician wrote on his social networks.
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