European tourism this summer has shown to encourage resilience, although destinations vary
Despite economic pressures, tourists continue to prioritize travel spending over other discretionary spending. As a result, travel demand in Europe continues to approach pre-pandemic levels, with international arrivals currently down -3.2% compared to 2019, based on TourMIS data from January to September. . This increase in performance was primarily driven by intra-European travel and an influx of travelers from the United States taking advantage of favorable exchange rates.
When it comes to tourism recovery this summer, there has been some variation by destination. Year-to-date data shows that foreign arrivals in about a third of destinations have exceeded his 2019 levels.
The European recovery was mainly driven by Southern Europe and the Mediterranean region, particularly Serbia (+15%), Montenegro (+14%), Portugal (+11%), Turkiye (+8%), Malta and Greece (both +7%). ). However, approximately 65% of reporting destinations still have not reached pre-pandemic levels of arrivals.
Climate-related challenges such as heatwaves, bushfires and flooding have hit tourist attractions this summer, highlighting the need for industry transformation to combat climate change. Other risks to Europe’s tourism outlook include the continued struggle with inflation despite falling energy prices and a healthy labor market, the war in Ukraine and weaker-than-expected growth in the eurozone. Still, the number of foreign arrivals to Europe is expected to increase, albeit at a slower pace, by the end of 2023, reaching 91% of pre-pandemic levels. Forecasts show that international tourist arrivals to Europe are expected to reach 2019 levels by 2024, a year earlier than expected.
