European Tourism Commission predicts a record 800 billion euros in tourist revenue - Bloomberg
Kyiv • UNN
In 2024, international travel spending in Europe reached a record 800 billion euros, up 37% from before the pandemic, driven by increased demand from American and East Asian travelers.
A report by the European Travel Commission confirms a significant increase in international travel demand for Europe. International tourism spending in the region is expected to reach a record high of 800 billion euros this year, up 37% from before the pandemic.
Written by UNN with reference to Bloomberg.
A recently published report by the European Travel Commission shows a steady increase in tourist demand for Europe in the second quarter of 2024. According to the report, international tourist spending in Europe will reach a record 800 billion euros this year, up 37% from the pre-pandemic figure of 583 billion euros, according to statistics from the UN World Tourism Organization.
It is also noted that the number of foreign visitors to the region increased by 6% compared to 2019, setting a new record for Europe. The report indicates that most of the growth in tourism spending is due to American tourists, who spend 72% of their spending on Western European destinations.
In addition, a significant increase in revenues also comes from tourists from East Asia, especially China, although the exact figures for the contribution of Chinese travelers are not given in the report, according to the ETC.
At the moment, we see that southern European and Mediterranean destinations remain favorites for travelers in Europe
This is because tourists still prefer warm weather and value for money, he added, both of which can still be found in some parts of Southern Europe.
According to the latest report of the European Travel Commission, published in the second quarter of 2024, the region continues to attract a growing number of tourists. The popularity of Nordic destinations is growing, especially in Denmark, Norway and Sweden, which recorded a 38%, 18% and 9% increase in foreign overnight stays, respectively, compared to 2019.
The report also indicates a growing interest in lesser-known southern European destinations such as Croatia and Malta, as well as a significant increase in the popularity of destinations with favorable exchange rates such as Bulgaria, Serbia and Turkey.
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