Luxtoday

Oktoberfest is most expensive for visitors this year

Oktoberfest is most expensive for visitors this year

The legendary festival has hit the wallets of Germans and visitors to the country. Compared to last year, the price of the main beverage of the season — beer — increased by 6.1%. This is an average figure: some types of beer have increased in price more, others — less.

The explanation of this phenomenon is quite simple. The German economy has been stagnating for almost a year. Experts have often predicted a recession. But so far, the country has managed to overcome the challenges. The rise in energy prices has been the biggest shock for Germany.

It poses the greatest threat to the heating industry and to the food industry. The former was relatively easy to deal with thanks to the mild winter of 2022-2023. The latter is much more complicated. Energy is a constant and large consumer in the food industry. This is especially true for the brewing industry, which is very demanding when it comes to meeting certain production requirements.

The purchasing power of Germans remains stable despite the gloomiest forecasts and an expected 0.6% drop in GDP by the end of the year. This may have been the result of a multifaceted government stimulus package. Wages have even broken the record of 2008 in terms of growth rates — up 6.6% this year.