ETC- Oct 2010 Trends and Outlook-final

ETC Oct 2010 - E UROPEAN TOURISM 2010 Trends Prospects Quarterly Report Q3/2010 EUROPEAN TOURISM in 2010 TRENDS PROSPECTS Quarterly Report(Q3/2010

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EUROPEAN TOURISM 2010 – Trends & Prospects Quarterly Report - Q3/2010
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EUROPEAN TOURISM in 2010: TRENDS & PROSPECTS Quarterly Report (Q3/2010) A quarterly insights report produced for the Market Intelligence Group of the European Travel Commission (ETC) by Tourism Economics (an Oxford Economics Company) Brussels, October 2010 ETC Market Intelligence Report
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Copyright © 2010 European Travel Commission European Tourism in 2010: Trends & Prospects (Q3/2010) 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: [email protected] ISBN No: 978-92-990058-4-2 This report was compiled and edited by: Tourism Economics (an Oxford Economics Company) on behalf of the ETC Market Intelligence Group © Photo by courtesy of the German National Tourist Board / Deutsche Zentrale für Toruismus e.V.: Torsten Krüger. Duisburg/Ruhr area: Duisburg-Nord Industrial Landscape Park (former steelworks), evening.
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European Tourism in 2010: Trends & Prospects (Q3/2010) 1 © European Travel Commission, October 2010 Foreword As we move into the fourth quarter of 2010, we take encouragement from a broad range of positive signals. The tourism recovery has broadened and strengthened with all but two destinations reporting growth this year. Lodging performance has also strengthened. Occupancy rates in Europe are up 5.4% and hoteliers have been able to raise rates in response to increased demand. Regional source markets are rebounding and the US market strengthened through the summer months. Meanwhile, arrivals from Japan and Russia continue to surge. However, the outlook for global economic recovery has become much less certain. In this tenuous environment, risks seem to be skewed towards the downside. While the corporate sector is flush with cash and represents an upside risk to the forecast, a timid response in hiring and investment lends to the possibility of a subpar recovery. Uncertainty in the financial sector led by problems with European banks and stalling of asset prices provides additional downside risks. So while industry performance has been strong to date, the remainder of the year will likely see moderating growth as comparisons to the prior year overlap with the beginning of the recovery and headwinds to the economic recovery restrain travel to Europe.
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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 Oct 2010 - E UROPEAN TOURISM 2010 Trends Prospects Quarterly Report Q3/2010 EUROPEAN TOURISM in 2010 TRENDS PROSPECTS Quarterly Report(Q3/2010

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