ETC Trends and Prospects-2010Q1 final 2.0

ETC Trends and Prospects-2010Q1 final 2.0 - EUROPEAN...

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Unformatted text preview: EUROPEAN TOURISM 2010 – Trends & Prospects Quarterly Report - Q1/2010 EUROPEAN TOURISM in 2010: TRENDS & PROSPECTS Quarterly Report (Q1/2010) A quarterly insights report produced for the Market Intelligence Group of the European Travel Commission (ETC) by Tourism Economics (an Oxford Economics Company) Brussels, April 2010 ETC Market Intelligence Report Copyright © 2010 European Travel Commission European Tourism in 2010: Trends & Prospects (Q1/2010) All rights reserved. The contents of this report may be quoted, provided the source is given accurately and clearly. Distribution or reproduction in full is permitted for own or internal use only. While we encourage distribution via publicly accessible websites, this should be done via a link to ETC's corporate website, www.etc- corporate.org , referring visitors to the Market Intelligence Section. The designations employed and the presentation of material in this publication do not imply the expression of any opinions whatsoever on the part of the Executive Unit of the European Travel Commission. Published and printed by the European Travel Commission 19A Avenue Marnix (PO Box 25), 1000 Brussels, Belgium Website: www.etc-corporate.org Email: info@etc-corporate.org ISBN No: 978-92-990058-2-8 This report was compiled and edited by: Tourism Economics (an Oxford Economics Company) on behalf of the ETC Market Intelligence Group Photo: Basilica of Esztergom, Hungary / Courtesy of the Hungarian National Tourist Office. European Tourism in 2010: Trends & Prospects (Q1/2010) 1 Foreword A fragile recovery is underway... The recovery from the “great recession” is underway. Signs of a travel rebound emerged in the final months of the year as economies around the world strengthened. Yet this recovery, unlike those of more recent recessions, is expected to be tempered and fragile. ...after a dismal 2009 Overnight visits to European destinations declined 6% in 2009, erasing two years of gains, while international travel around the world fell an estimated 4.7% against the headwinds of the global recession. Intra-European travel proved more stable in 2009 relative to long haul markets. This accounted for the relatively strong performance of destinations nearest their main source markets. As 2010 begins, the trends established in the latter portion of 2009 are continuing. European airlines are reporting higher load factors due to increased passenger enplanements rather than cuts to capacity. Hoteliers have seen higher occupancy rates across Europe and revenue appears to be growing in the first quarter despite lower prices. All of these observations point to renewed growth in tourist arrivals in the first quarter. The industry is reporting positive signs on all fronts Key source markets are turning positive Over the near term, tourism industry survey results are also pointing toward growing travel demand. A rebound from record lows is overdue from Japan while the US market also holds promise in the coming year. UK travellers are while the US market also holds promise in the coming year....
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This note was uploaded on 03/02/2011 for the course ECON 101 taught by Professor Xatzis during the Spring '11 term at Thessaloniki.

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ETC Trends and Prospects-2010Q1 final 2.0 - EUROPEAN...

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