Real estate sales and tourism are the best-performing sectors within the services industry during the first half of this year.

INSTAT released short-term service statistics for the second quarter, which serve as an early indicator of Gross Domestic Product (GDP) performance.

Real estate activity recorded the highest growth among all service sectors, with net sales rising by nearly 40% compared to the second quarter of the previous year. Tourism-related activities also showed positive trends, with the hotel index rising by 22% and transport by 19%. However, travel agency activities declined, while bars and restaurants grew at a more modest pace of 8.7%.

Real estate and hotels also recorded the highest wage growth, aligning with the expansion in sales.

Significant growth was also registered in transport, warehousing, and postal services (up 19.1%), while insurance activities grew by 8.9%. Wholesale and retail trade, along with the repair of motor vehicles and motorcycles, recorded a 6% increase.

Meanwhile, some service activities experienced a decline in sales. The index fell by 5.3% in legal and accounting activities, by 6% in office administration and administrative support, and by 0.6% in information and communication. Employment data indicate that the rise in activity has been accompanied by an increase in the number of employed persons, particularly in real estate and the hotel sector. The employment index for real estate rose by 26.6%, while in the hotel sector, it increased by 11.5%.

Employment growth was also recorded in transportation, warehousing, and postal services (up 5.7%) and in trade (up 5.6%). In the bar and restaurant sector, employment increased by 2.2%.

However, employment contracted in certain sectors. The most significant decline was recorded in office administration and administrative support services (down 12.1%), while insurance activities saw a 3.5% drop.

INSTAT publishes short-term service statistics as indicators of economic activity trends across various sectors, providing data on sales, employment, and developments within service industries.