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Europe's great opportunity

By Friday, 17 May 2024 12:09

As usual the two long-haul source markets driving up the numbers for European tourism are the United States and Canada. This year the Old Continent is projected to reach record levels in terms of tourist spending, at least according to the recent European Travel Commission report that paints the picture of a robust recovery. That so far has not been challenged by the difficult international geopolitical context.

With the USA and Canada continuing to dominate the scene, the trend in Italy is fully confirmed by that of the US, Canadian and Italian airlines. Practically all the carriers operating transatlantic flights have invested in growth, either in terms of new routes, boosting the number of frequencies, or stretching the operational season by starting in early spring and ending in late autumn.

There are also positive signs for arrivals from Latin America, and Brazil in particular. And while the APAC region is improving compared to the last quarter, the recovery remains modest and uneven, and although Chinese travellers are starting to return to Europe, recovery from Japan is still slow.

Reinforcing this desire for Europe are major events like the Olympic Games in Paris and the UEFA Euro 2024 European Football Championship in Germany. In the first case it is estimated that domestic and international visitors will generate a growth in inbound expenditure of +13% for Paris and +24% in France as a whole, compared to 2019.

A positive picture that will be a breath of fresh air for Europe’s travel and tourism industry, which were hit hard by the pandemic years and the ongoing economic instability. And, there are still clouds on the horizon, with the rumblings from Ukraine to Israel.

Mariella CattaneoMariella Cattaneo
Journalist

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