4 May, 2012
European Tourism Trends & Prospects Q1/2012 Report Released
The European Travel Commission (ETC) has just published its first quarterly report on European Tourism in 2012 – Trends & Prospects.
Executive Summary
(+) European travel has exhibited resiliency in the early part of 2012. Most reporting destinations have experienced growth in foreign visits and nights through the first two months of the year.
(+) Air travel has also been encouraging, with European airline passenger growth exceeding 5% through mid-April. European airline load factors have been stronger than last year throughout the first quarter of 2012.
(+) However, there are signs of mixed performance and slowing throughout Europe. While Central and Eastern European destinations have been performing well, quite a number of Western European destinations have posted declines in hotel occupancy in the first two months of the year.
(+) Overall, a slowdown is evident in hotel occupancy rates in most European sub- regions.
(+) The global economy is being restrained by a mix of government austerity, household deleveraging, corporate caution, and high commodity prices. Meanwhile, data on economic activity indicate that the Eurozone is in mild recession and concerns are mounting regarding government debt. And doubts remain about the Eurozone’s ability to prevent or manage a serious crisis, should it require significant bailouts for countries as large as Spain or Italy.
(+) Although only two months of data are available for 2012, relative strength is evident in major European source markets – implying greater internalisation of travel in the region. Russia remains a star performer in the early stages of the year. Struggles for the US market are continuing into this year, while Japan continues its resurgence.
Comment by Leslie Vella, Chairman, ETC Market Intelligence Group:
“Reason for caution remains. Hotel performance data presents initial signs of mixed performance with 12 out of 26 European countries experiencing a decline in the early part of 2012.
“As we approach the peak travel season, the resilience of our industry will be tested. The global economy is being restrained by a mix of government austerity, household deleveraging, corporate caution, and high commodity prices. Meanwhile, data on economic activity indicate that the Eurozone is in mild recession and concerns are mounting regarding government debt.
“As a result, both regional and long haul travel markets face stiff headwinds over the next two years. Tourism Economics now forecasts visits to all of Europe are expected to decline just over 1% in 2012 and with just moderate growth of 0.8% expected for 2013.
“As a new reference for destination strategy, this report includes a series of market share analyses for ten of Europe’s largest source markets. These market profiles, beginning on page 15, reveal trends in total outbound travel, Europe’s share of the market over the past decade, and growth forecasts for each market.”
The full report can be downloaded from ETC’s corporate website by clicking here.
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