The 2 μm and upconversion emission in low phonon (805 cm−1) germanate glass and double-clad optical fibers co-doped with 0.7Yb2O3/(0.07–0.7)Ho2O3 ions have been investigated. Glasses with the strongest emission intensity (0.7Yb2O3/0.15Ho2O3 and 0.7Yb2O3/0.35Ho2O3) were used as core of double-clad (DC) optical fibers and comparative analysis of their luminescent properties have been performed. The spectral overlapping between emission and absorption bands at near-infrared (2 μm) in glass and DC optical fibers caused red shifting with the increase of optical fiber length. Differences in luminescence spectra measured for bulk glass and double-clad optical fibers in both visible and near-infrared spectral ranges have been presented and discussed in details.