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London is The Top City for International Spending in Europe

The newest report by the World Travel & Tourism Council (WTTC) named “Europe City Travel & Tourism Impact” reveals some interesting information about the impact of the hospitality industry to the economy of cities and the creation of new jobs. According to the review, the UK capital occupies the leading position with an incredible amount of spending last year.

During 2016, international visitors spent as many as 18.9 billion euro in London. That is more than in any other city across Europe. Domestic visitors of the capital also added a significant sum – more than 2.9 billion euro. It’s not a secret that London hotels and other hospitality industry organizations play an important role in the process of job creation. In general, travel and tourism provide as many as 228,000 jobs in London.

Other cities in the top five rating of the biggest spending cities in Europe are Istanbul with the spending of 17.5 billion euro, Barcelona (13.6 billion euro), Amsterdam (11.8 billion euro), and Paris (10.4 billion euro). The Europe City Travel & Tourism Impact report covers 65 large cities, 17 of which are located in Europe. The report was published just in time for World Travel Market that just has opened in London. One of the main tourism-related events in the world brings more than 51,000 professionals to the city and has more than 5,000 destinations covered this year.

Experts say that there is nothing strange in the fact that London enjoys the highest international tourist spending in Europe. The multinational city looks very appealing for travelers from all over the world and offers unique experiences for any taste. This year, hotels in London had to face a number of difficulties caused by the Brexit and terror attacks. However, the statistic shows that the city is resilient against all challenges and so experts foresee that the hospitality industry will add 7% every year over the next ten years.

London is not the only European city resilient to the impact of terror attacks. For example, Paris suffered from terrorism twice in 2015, in January and November. This made the number of international arrivals fall by 8%. Hotels in Brussels had to deal with the fall of occupancy of 17% after the March 2016 attack. However, the Belgium capital quickly regained its positions and is forecasted to add 7.3% this year. Finally, Istanbul and Antalya, both of which had to face terror attacks, also have a positive forecast for the next ten years - +8.6% and +9.8% respectively.

08.11.2017

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