ETC-July 2010 Trends and Outlook

ETC-July 2010 Trends and Outlook - EUROPEAN TOURISM 2010...

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Unformatted text preview: EUROPEAN TOURISM 2010 – Trends & Prospects Quarterly Report - Q2/2010 EUROPEAN TOURISM in 2010: TRENDS & PROSPECTS Quarterly Report (Q2/2010) A quarterly insights report produced for the Market Intelligence Group of the European Travel Commission (ETC) by Tourism Economics (an Oxford Economics Company) Brussels, July 2010 ETC Market Intelligence Report Copyright © 2010 European Travel Commission European Tourism in 2010: Trends & Prospects (Q2/2010) 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: 978-92-990058-3-5 This report was compiled and edited by: Tourism Economics (an Oxford Economics Company) on behalf of the ETC Market Intelligence Group Photo: © VisitBritain. Callanish Stone Circle, Isle of Lewis, Outer Hebrides, Scotland, U.K. European Tourism in 2010: Trends & Prospects (Q2/2010) 1 © European Travel Commission, July 2010 Foreword Europe is experiencing a recovery in travel from its low points last year. However, this recovery is unlike like past rebounds. Early data for this year show mixed results with nearly as many countries posting visitor declines as increases. International visits are barely positive in the first quarter. Still, industry data for aviation, lodging, and expectations show we are on an upward, though modest, path to recovery. Part of the reason for the halting recovery is the Icelandic volcano ash cloud which affected 6 million European travellers in April and May, costing European airlines and destinations US €1.7 billion in net sales. However, hotel occupancy rates through May indicate recovery is taking place across the region. However, this appears to reflect strength in domestic travel as well as the temporary demand from stranded passengers. The global economic recovery is underway with emerging economies in Asia and the Americas exhibiting robust growth. However, growth in the second half of the year is expected to moderate as the rebound in manufacturing subsides and stimulus spending is removed. This will be especially true in Europe as fiscal conditions have necessitated austerity measures in a number of countries, dampening the prospects of an already weak recovery....
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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-July 2010 Trends and Outlook - EUROPEAN TOURISM 2010...

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