An analysis by The Data Appeal Company and Mabrian, both part of the Almawave Group, estimates that Central Europe’s most attended Christmas markets will generate almost 1 billion euros in economic impact in 2025, driven by high visitor volumes and strong on-site spending – particularly in food and beverage.
According to the study, the leading Christmas markets in Cologne, Hamburg, Strasbourg, Dortmund, Nuremberg and Berlin (Spandau and Breitscheidplatz) are expected to welcome a combined 17.3 million visitors and generate 986.8 million euros in spending. The findings are based on the companies’ proprietary tourism intelligence platforms, which combine data on hospitality performance, air connectivity, reviews and online sentiment, events, and visitor spending.

Germany is positioned as the dominant player in the seasonal Christmas market economy. Cologne and Hamburg are forecast to attract the highest visitor numbers and account for 44% of total spending, reaching 229.4 million euros and 207 million euros respectively. Berlin is also highlighted for strong performance, with its Spandau and Breitscheidplatz markets showing some of the highest average spending per visitor, despite welcoming fewer visitors overall. The analysis links Germany’s strength to the scale of its Christmas market tradition, established flagship events such as Nuremberg’s market, and practical access factors including strong rail networks and cross-border connectivity.
Outside Germany, Strasbourg is again identified as one of Europe’s most iconic Christmas destinations. The market ranks among the top three by visitor numbers with 2.8 million visitors and is projected to generate 133.9 million euros in economic impact, reinforcing its international positioning during the winter period.

Carlos Cendra, Partner and Director of Marketing and Communications at Mabrian, said: “Christmas markets are more than a seasonal attraction; they’re a gateway. With the right data intelligence, destinations can use this demand peak to reveal the full spectrum of experiences that encourage travellers to stay longer, spend more, and return beyond the holiday season.”
The study also breaks down where visitor money goes, offering a practical signal for destination managers and operators. Food & Beverage is the leading spending category at 58%, followed by Transport at 28% and Accommodation at 14%. This distribution suggests that the markets’ commercial value is strongly tied to gastronomy and social, experience-led consumption rather than overnight stays.
Mirko Lalli, CEO and Co-founder of The Data Appeal Company, said: “According to our data, the spending profile, with only 14% devoted to hospitality and almost 30% to transport, indicates that these Central European Christmas markets are primarily frequented by local residents and regional day-trippers rather than traditional overnight tourists. They are, above all, experience-seekers: they allocate most of their budget to food and beverages, effectively transforming these events into large open-air dining spaces where local specialities and socialising become the central attractions.”
For DMOs and tourism offices, the analysis frames Christmas markets as winter-season demand anchors that can support local businesses, sustain visitor flows in the low season, and strengthen city branding. It also highlights the role of data-driven tourism intelligence in identifying visitor mix and spend patterns, helping destinations plan more targeted and sustainable strategies beyond the holiday peak.
Tags: Mirko Lalli, Data Appeal Company, Carlos Cendra, Mabrian, Christmas
