Brussels, 6 August 2012. The European Travel Commission (ETC) has just published its second quarterly report on European Tourism in 2012 – Trends & Prospects The full report can be downloaded from ETC’s corporate website by clicking here.
The following gives a brief overview of the report for the second quarter of 2012.
- · In the first half of 2012 European travel has exhibited some resilience in the face of the weak and uncertain global economic environment.
- · Air travel continues to show some encouraging signs, with European airline passenger growth around 6% through mid-June while load factors have strengthened.
- · The global economy is restrained by government austerity and a softening in export demand with leading indicators suggesting most major economies are slowing. In response to deteriorating economic conditions, global central banks have lowered interest rates.
- · This uncertain economic backdrop is not yet causing significant falls in tourism demand, but the trend is of slowing growth. There are signs of mixed performance and slowing throughout Europe.
- · Hotel data show signs of mixed performance throughout Europe. While Central and Eastern European destinations have performed well, a significant number of Southern European destinations have recorded falls in hotel occupancy during the first half of the year. Overall, a moderation in hotel occupancy rates in most European sub-regions is apparent.
- · Tourism arrivals data for the first half of 2012 reveal an uneven picture of growth in the major European source markets. Meanwhile, Russia continues to be a star performer, with strong growth in all markets.
While demand in Japan continues to recover, the struggle for US market share continues.
The full report can be downloaded from ETC’s corporate website under the following link: http://www.etc-corporate.org/market-intelligence/reports-and-studies.html
