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Germany halves travel security fees to boost industry liquidity
🇵🇱 Poland /Economy & Trade

Germany halves travel security fees to boost industry liquidity

From Rzeczpospolita · () Polish

Translated from Polish, summarized and contextualized by DistantNews.

At a glance

News Sources not specified New plan
  • Germany's Deutscher Reisesicherungsfonds (DRSF) will halve its fees for travel organizers, reducing them from 0.5% to 0.25% of protected package tour revenue starting November 1.
  • The fund is also adjusting its guarantee system, lowering the initial value from 7% to 5% of turnover and setting a new range of 1% to 9% based on a company's financial health.
  • These changes aim to improve liquidity and competitiveness for travel companies, though some industry groups argue further cost reductions are still needed.

Germany's travel industry is set to receive significant financial relief as the Deutscher Reisesicherungsfonds (DRSF) announced a halving of its fees for travel organizers. Effective November 1, the contribution rate will drop from 0.5% to 0.25% of protected package tour revenue. This move fulfills a campaign promise made by the current government to the tourism sector.

The DRSF has implemented further adjustments, reducing the initial guarantee value from 7% to 5% of turnover. The new security range for organized tours will be between 1% and 9% of revenue, contingent on a company's financial standing. German business media, including "Handelsblatt," highlighted that financial indicators such as equity, profitability, and liquidity will now play a larger role in risk assessment, potentially leading to lower guarantee requirements for financially sound companies.

targeted and noticeable relief

— Andreas GentDRSF Managing Director, describing the changes.

DRSF estimates these changes will leave approximately 560 million euros in the accounts of tour operators, boosting their financial liquidity and competitiveness for the upcoming insurance year. Andreas Gent, the fund's managing director, described the package as a "targeted and noticeable relief" for the tourism sector.

positive signal for the industry

— DRVDeutscher Reiseverband's assessment of the fee reduction.

Major industry organizations like the Deutscher Reiseverband (DRV) and companies such as TUI and DERTOUR Group welcomed the decision as a "positive signal." However, they also stressed the need for further changes and cost reductions after a review next year. DER TOUR Group called the decision an "important and long-awaited step" and suggested implementing a DRSF quality label to enhance customer transparency.

Conversely, the VUSR association expressed skepticism, arguing that the burden on the industry remains high. VUSR advocates for increased fund oversight, the involvement of the Federal Financial Supervisory Authority (baFin), and a deeper reform of the security system. TUI views the current changes as a transitional phase, emphasizing that the current level of charges should be reconsidered.

important and long-awaited step

— DERTOUR GroupDescribing the DRSF's decision to reduce fees.
DistantNews Editorial

Originally published by Rzeczpospolita in Polish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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