Europe’s tourism restoration is sustaining its momentum regardless of financial headwinds, with one quarter of reporting locations surpassing pre-pandemic ranges of overseas arrivals primarily based on year-to-date information. Inflation and elevated journey prices are squeezing customers’ wallets, nevertheless, journey spending remains to be prioritised towards different discretionary spending.
NB: That is an extract from the European Journey Fee Quarterly Report Q2/2023
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Holidaymakers proceed to be primarily pushed by price, which is mirrored by latest information displaying that extra inexpensive locations are among the many finest performers, notably Türkiye, Bulgaria, Montenegro and Serbia. These permitting journey from Russia are amongst these locations reporting a constructive efficiency. Traits this summer time are trying terribly constructive primarily based on air ticket gross sales information from IATA, nevertheless, the air journey expertise and connectivity nonetheless want to enhance.
Intra-European journey demand continues its robust place, primarily pushed by the Netherlands, France, and Italy. Longer-haul, the US is the standout performer with a stronger greenback as the principle driver, whereas markets in Asia & Pacific nonetheless have a protracted option to go relating to journey restoration. Europe’s tourism outlook for the rest of the 12 months will likely be for slower than anticipated progress as a result of excessive and chronic inflation and sluggish financial progress.
Key questions stay, equivalent to the form that revenge journey will undertake this summer time. As journey projections are robust for the season, the menace and considerations about over-tourism improve. Its unfavourable impacts on tourism websites, the setting and the lives of residents name for locations to supply extra different choices and implement methods that ease the stress on tourism hotspots.
Tourism methods that embrace journey dispersal will help locations in addressing tourism massification whereas spreading the advantages of tourism to lesser-known areas. Tourism needs to be leveraged as a power for good to stability financial progress with present social, financial and environmental wants to make sure a accountable and extra sustainable future.
The latest version of the European Tourism Traits & Prospects quarterly report comprehensively analyses key tourism and financial traits in Europe and related supply markets.
The newest report features a particular characteristic on rising traits for the height summer time season supported by air passenger information and traits from IATA. This evaluation offers a greater understanding of the broader image when it comes to full restoration and the locations and supply markets driving journey progress.