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European Tourism Keeps Developing Despite Troubles

European tourism keeps developing and features stable growth year after year despite economic troubles and geopolitical tensions. According to the latest report by the European Travel Commission, the majority of European destinations post positive results in 2015. The increase in tourist arrivals during first eight months of the year estimated 5% compared to January – August 2014. The most important is that the region managed to cope with declining number of tourist arrivals from Russia and is expected to record higher growth in the end of the year.

Hotels in Iceland surely experience a good year as the year-to-year growth of tourist arrivals to the country estimates 27%. Romania posted the increase of 18%. Other countries with double digit growth of tourist arrivals in 2015 are Slovenia and Serbia (+13%) and Montenegro and Ireland (both the countries added 12%). Other hot European destinations include Italy (+5%), Croatia (+8%), Malta (+5%), and Spain (+4%).

European markets benefit not only from growth of long-haul markets, but also from domestic ones. For example, beneficial rate of pound against euro made British travelers more willing to spend their holiday on continental Europe. The significant growth of such destinations as Latvia, Slovakia and Montenegro is much influenced by British visitors. Such traditional European source markets as France and Germany also performed well thanks to ongoing economic recovery and, consequently, more consumer confidence. When it comes to long-haul source markets, in 2015 Europe has benefited from Chinese tourists. The growth in the number of arrivals estimated 30%. Although, according to current forecasts, China is expected to face certain economic troubles, the increasing middle class travels actively. Stronger dollar also makes travelers from the US more interested in visiting Europe. The increase of tourist arrivals from this country to Europe estimated 11% during first eight months of 2015, and this source market is expected to develop as weaker euro makes Europe more affordable destination.

13.11.2015

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