The Romanian holiday voucher market recorded a severe decline in the first seven months of 2026, with employer purchases standing between EUR 79.56 million and EUR 79.58 million, down 9.67% compared to the same period in 2025 and 69.24% below the 2024 level. During the same period, settlements to tourism operators dropped by 53.56% year-on-year, falling from EUR 165.86 million to EUR 77.02 million, representing a 62.27% decrease compared to the first seven months of 2024.
According to data compiled by the National Association of Travel Agencies (ANAT) from the Ministry of Finance, the contraction is underscored by a comparison with the January–July 2024 period, when purchases totaled EUR 258.93 million and payments to affiliated businesses exceeded EUR 203.72 million. In July 2026 alone, the value of purchases reached EUR 18.79 million (-27.97% compared to July 2025), while settlements reached EUR 21.95 million (-26.22%), compared to EUR 34.09 million and EUR 52.21 million, respectively, in July 2024. Adrian Voican, vice president of ANAT, emphasized that marginalizing the program through government decisions and restricting beneficiaries directly impacts tax compliance, jobs, and the sustainability of the hospitality industry, advocating for optimizing the system and expanding it to the private sector. The ANAT representative recalled that the Romanian model received international recognition from the OECD as a best practice example in the field.
Frequently Asked Questions
How much did holiday voucher purchases decline in 2026?
Employer purchases reached approximately EUR 79.57 million in the first seven months of 2026, dropping by 9.67% compared to 2025 and by 69.24% compared to 2024.
What was the impact on payments to tourism operators?
Settlements to tourism operators decreased by 53.56% year-on-year to EUR 77.02 million, marking a 62.27% slump compared to the first seven months of 2024.
Why did the Romanian holiday voucher market contract?
According to ANAT, the market contracted due to government decisions that marginalized the program and restricted the number of eligible beneficiaries.