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    Tourists to spend €800 billion in Europe this year

    July 13, 2024
    top news world
    ,
    Tourists to spend €800 billion in Europe this year

    Travel Biz News —

    Foreign arrivals and overnights surpass 2019 figures in the first half of 2024 in Europe .Tourists in Europe are expected to spend €800.5 billion in 2024, up 13.7% since 2023 , according to the latest edition of the ‘European Tourism Trends & Prospects’ quarterly report released by the European Travel Commission (ETC).

    Europe’s tourism industry continued its recovery in the second quarter of 2024. Foreign arrivals and overnights surpassed 2019 figures, reflecting a year-on-year increase of 12% and 10%, respectively. The growth is propelled by robust intra-regional travel from Germany, France, Italy, and the Netherlands.

    Year-to-date data indicates that both traditional and non-traditional Southern European and Mediterranean destinations continue to be the most popular choices for tourists in Europe.

    Notable increases in arrivals compared to 2019 levels were recorded in lesser-known destinations such as Serbia and Bulgaria , as well as long-standing favourites including Malta , Portugal and Türkiye . The ongoing success of these destinations is partially due to their common offer of value-for-money experiences and generally favourable weather conditions.

    The Nordic countries also show growing appeal, with foreign overnights up in Denmark , Norway , and Sweden . This indicates increasing success outside Southern Europe and in destinations that are relatively more expensive.

    Conversely, the Baltic region continues to struggle, with Latvia , Estonia and Lithuania still experiencing international arrivals well below 2019.

    Significant challenges continue to affect the travel sector. Tourism professionals cite rising costs of accommodation, business operations, and flights, along with staffing shortages, as major issues. Despite their ongoing impact, these challenges have lessened compared to the previous quarter.

    The most significant increases in inbound spending for the year-to-date are in Spain , Greece ), Italy, and France . Other countries such as Croatia, Bulgaria and Romania expect to see longer average stays in 2024 than the previous year, which will also result in increased tourism revenue.

    The report identifies an increasing diversification of European tourism, with emerging destinations and source markets growing their market share.

    Contributing factors include the search for value-for-money in non-traditional destinations, the return of travellers from the Asia-Pacific region, and the increasing availability of rail travel.

    Though the US remains the best-performing long-haul source market, there is a notable uptake from East Asian markets, especially China. European cities are proving a particular draw for Chinese visitors, as China is expected to become the fastest-growing source market for city destinations in 2025, overtaking the US.

    13.07.2024

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      FACTS —

      Tourism helps in:

      👉Reducing poverty

      👉Reducing Inequalities

      👉Promoting gender equality

      👉Fostering decent work and economic growth

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      In 2019, Travel & Tourism’s direct, indirect and induced impact accounted for:
      -US$8.9 trillion contribution to the world’s GDP
      -10.3% of global GDP
      -330 million jobs, 1 in 10 jobs around the world
      -US$1.7 trillion visitor exports (6.8% of total exports,
      28.3% of global services exports)
      -US$948 billion capital investment (4.3% of total
      investment)

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