Figure 4.

Tourism Expectations Crater in Wake of Energy Costs

Q4 2025
Q1 2026
20262027202820292030 20312032203320342035
Q4 2025 1.5%3.5%3.3%3.6%3.6% 3.4%3.5%3.4%3.5%3.5%
Q1 2026 1.4%0.8%2.0%2.4%2.0% 1.9%2.0%1.8%1.9%1.8%

Source: REC Group