Tourism aims for EU-wide record revenue of €800bn

A record €800 billion will be spent by tourists in Europe this year, according to the European Travel Commission's report for the second quarter of 2024.

That's up 37% from pre-pandemic levels, when tourists spent €583 billion on travel and leisure. International arrivals rose 6% from 2019, also setting a new record in Europe, according to Bloomberg.

A noticeable difference compared to previous years is… the activity of Americans. Tourists from the USA are choosing Europe and especially Greece for their holidays in large numbers. There has also been a significant influx of travellers from East Asia, mainly China, where residents are trying to “erase the memory” of the strict restrictions of the Covid pandemic.

«At the moment, we see that destinations in Southern Europe and the Mediterranean remain consistently popular among travelers from all countries.“,” Eduardo Santander, executive director of the European Travel Commission, said in a statement. He added: “That's because tourists continue to prioritise warm weather and (added) value for money“.

According to the report, the fact that Mediterranean Sea becoming 'hot spot' due to climate change impacts, does not scare away travelers. A typical example is Greece, which, despite prolonged heat waves and major fires (for example, Rhodes), is well on its way to a new record in tourist numbers and revenues.. It is also interesting that foreign tourists no longer flock to “expensive Santorini and Mykonos”, but prefer “secluded corners” where there are no crowds of tourists – remote, little-known islands where you can relax at affordable prices.

However, analysts note that Northern Europe is increasingly coming into play, as there are tourists who want to spend their holidays in mild climates without the heat waves that Greece, Spain, Portugal and Italy experience in the summer. Notably, the number of overnight stays in Denmark (+38%), Norway (+18%) and Sweden (+9%) increased compared to 2019.

In addition, compared to pre-pandemic levels, the popularity of destinations with favorable exchange rates, such as Bulgaria (+29%), Serbia (+40%) and Turkey (+22%), is growing.

The report also notes that hypertourism becomes increasingly destructive to popular destinations. This is one of the reasons why destinations such as Magerøya in Norway, Bornholm in Denmark and Iona in Scotland are increasingly attracting attention as tourists want to spend their holidays in undiscovered places to enjoy the scenery and services on offer to the fullest extent possible.

Source link