Europe’s tourism revival continues, foreign tourist arrivals reach 95% of 2019 levels
Wednesday, July 12, 2023
Despite economic challenges, Europe’s tourism revival is keeping momentum, with foreign tourist arrivals reaching almost 95% of 2019 levels. Despite the fact that inflation and rising travel prices are putting a strain on consumers’ budgets, travel expenditure is still preferred over other discretionary purchases.
According to the most recent data available, one-quarter of reported European destinations had surpassed pre-pandemic levels of international tourists.
The European Travel Commission (ETC) has published its “European Tourism: Trends & Prospects” report for the second quarter of 2023, which provides a detailed overview of the region’s most recent tourism and macroeconomic trends.
Commenting following the publication of the report, Miguel Sanz, ETC’s President, said, “It is encouraging to see the positive recovery of international tourist arrivals in the first half of 2023. With this in mind, European destinations must be prepared to effectively manage the increased demand and return of travellers. Tourist strategies must embrace travel dispersal in order to support destinations in addressing overcrowding, while also spreading the benefits of tourism to less-travelled areas. Tourism can and should be leveraged as a social, economic, and sustainable force for good.”
Many customers will make cost-conscious travel selections this summer, as deteriorating economic conditions put strain on visitors’ finances. Household budgets and discretionary spending will continue to be stretched as Europe enters its peak travel season (June to August), but this should not derail the overall recovery.
Despite the economic downturn, travellers continue to exhibit a strong desire to travel. Given this, it’s no wonder that price sensitivity will continue to choose places that provide better value for money.
According to recent statistics up to May, value-for-money locations are performing strongly, with Serbia (+27%), Bulgaria (+21%), Montenegro (+12%), and Turkey (+9%) leading the rebound.