Visitor numbers into the Netherlands hit 127.8 million in 2022, up 27 percent from 2021 and 3 per cent from 2019, research from JLL revealed.
The growth in tourism numbers was driven by the arrival of twice as many international hotel guests from the UK, Australia and USA into the main Dutch cities.
Although the pandemic temporarily hurt turnover, 2022 saw positive movement post-pandemic.
The research found that although overall, the Dutch hospitality sector the overall sector is growing, not all destinations and tourist subsegments are moving at the same pace.
Looking ahead, budget and luxury hotels are expected to remain top of investors’ minds as these segments have proven to be resilient with continued strong demand. However, mid-market hotels are expected to suffer in the short to mid-term given their dependence on corporate and MICE (meetings, incentives, conferences and exhibitions) demand, usually coupled with capital expenditure requirements.
Even though key cities including Amsterdam, The Hague, Utrecht and Rotterdam have already exceeded previous 2019 peaks, the Netherlands as a whole is yet to fully recover, mainly due to the USA and China only opening their borders in late 2022.
Why it matters
While the current economic climate may impact consumer confidence for 2023, recent hotel transactions, especially in Amsterdam – which saw €400 million of hotel asset deals close in 2022 - as well as this growth in tourism numbers seem to signal a bright future for the Dutch hospitality sector.
What they said
Jurrian Dompeling, executive vice president, EMEA Hotels & Hospitality Capital Markets at JLL said: “The Netherlands is experiencing a remarkable tourism revival post-COVID, with a record number of guests in 2022. Thriving hotel transactions, particularly in Amsterdam, indicate a promising future for the Dutch Hotel market and I expect capital will continue to be active across both equity and debt opportunities.”