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European Tourism bets on Russia`s rich to re-energise
Europe is a mature and established destination for tourists. But the US Dollar’s weakness has meant that Europe is perceived as being expensive, and its leading competitors (Australasia and the United States) seem comparatively cheap.

In such an environment all potential markets become important. Russia has benefited enormously from the extraordinary rise in the price of raw materials, particularly oil. Unlike other “new” markets, Russia is not distant, nor culturally distinct. Russia identifies with Europe: it sees itself as European.

At the European Tour Operators Association (ETOA) Summit, Macy Marvel, author of Mintel’s forthcoming International Tourism Forecasts report, will be discussing recent trends in the major origin markets, including what the impact might be for Tour Operators. One of the main highlights will be new research into the emerging tourist potential of Russia. He will identify the opportunities on offer and the impediments that need to be overcome to enjoy profitable growth.

Macy will also discuss China, as it is often cited for its explosive economic growth. However, unlike Russia, China’s potential as an origin market is widely over hyped, with consumers so price sensitive that little margin is left for the operators.

A copy of the Mintel report will be available exclusively for delegates to take away.

ETOA Summit delegates traditionally comprise senior managers from Europe’s major tour operators, hotel groups, tourist attractions, coach, rail and cruise companies and local tourist boards. Collectively, as buyers, they spend over €6bn a year on Europe’s sights, hotels and transport on behalf of their customers.

The event will take place at the Copthorne Tara Hotel, London W8 on Thursday 2nd November 2006. Theodore Koumelis - Thursday, October 26, 2006