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The European Travel Commission (ETC) has just published its second quarterly report on European Tourism in 2012 – Trends & Prospects.
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.
ETC- July 2012 Trends and Outlook_final
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
