Europe turns in strong performance in third quarter 2024
The latest research from the European Travel Commission (ETC) highlights a six per cent rise in foreign arrivals over 2019 levels and a seven per cent increase in year-on-year growth. Overnight stays have also grown by five per cent year-on-year.
The upward trend is driven by major events, improved air connectivity – especially from China – and lingering pent-up demand.
The newly released “European Tourism Trends & Prospects” Q3 2024 report offers insights into the dynamic performance of European tourism during the summer period and provides a comprehensive analysis of the region’s latest tourism and macroeconomic developments.
While headline inflation in Europe has eased, services inflation remains elevated, affecting both tourism businesses and travellers.
Prices for international flights in the Euro Area declined in July and saw a slight increase in August, but inflation for accommodation and package holidays continued to surpass overall services inflation.
As travellers become increasingly price-conscious, there is a notable shift toward value-driven travel experiences.
Overall tourist expenditure across Europe is projected to rise by 10.3 per cent in 2024 compared to 2023 and reach €719.7 billion, with Western Europe accounting for 74 per cent of this total.
“The performance of European tourism in 2024 underscores the sector’s resilience and enduring appeal despite economic pressures. Travellers continue to prioritize holidays, even in the face of rising costs, highlighting the essential role of travel in their lives,” said ETC president Miguel Sanz. “Following a busy summer, Europe is actively addressing capacity constraints in popular hotspots by redistributing visitors to more diverse destinations. We aim to alleviate the strain on overburdened areas and ensure that the economic benefits of tourism are shared more equitably. European tourism is not just about rebounding; we need to evolve to secure a sustainable future.”
