ETC- Feb 2011 Trends and Outlook-final

ETC- Feb 2011 Trends and Outlook-final - EUROPEAN TOURISM...

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Unformatted text preview: EUROPEAN TOURISM 2010 – Trends & Prospects Quarterly Report - Q4/2010 EUROPEAN TOURISM in 2010: TRENDS & PROSPECTS Quarterly Report (Q4/2010) A quarterly insights report produced for the Market Intelligence Group of the European Travel Commission (ETC) by Tourism Economics (an Oxford Economics Company) Brussels, February 2011 ETC Market Intelligence Report Copyright © 2011 European Travel Commission European Tourism in 2010: Trends & Prospects (Q4/2010) 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: 978-92-990058-5-9 This report was compiled and edited by: Tourism Economics (an Oxford Economics Company) on behalf of the ETC Market Intelligence Group © Photo by Österreich Werbung / Viennaslide. Vienna's Christmas market on Rathausplatz infront of city hall. European Tourism in 2010: Trends & Prospects (Q4/2010) 1 © European Travel Commission, February 2011 Foreword We begin 2011 looking back at a strengthening recovery. With almost a full- year of data now available for 2010 we observe visitor growth for the vast majority of destinations. However, we remain in the recovery process with visitor levels still below our 2008 peak. Nevertheless, industry performance has been encouraging. Hotel occupancy rates rose further across Europe to record average 5.5% growth through November and only the winter storms in late December deterred European air travel in the final weeks of the year. We saw a resurgence in key markets such as Japan and Russia early in the year and, later, in the US and UK. Regional source markets provided a steady source of growth as well. Looking forward, the economic recovery is more firmly entrenched and there are some positive signs going forward. On the positive side, solid profits have left corporations with significant cash which typically indicates a coming boost in hiring and investment. Meanwhile, future indices are solid and emerging market economies remain strong. However, the prospects for the global economy are clouded with some uncertainty by the continuing European sovereign debt crisis and a tenuous consumer outlook....
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ETC- Feb 2011 Trends and Outlook-final - EUROPEAN TOURISM...

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