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European Travel Commission Publishes Quarterly ReportAugust 6, 2012 By: Jena Tesse Fox
The European Travel Commission (ETC) has published its second quarterly report on European Tourism in 2012. Hotel News Resource has some interesting notes on the findings:
- Air travel appears to show some encouraging signs, with European airline passenger growth around 6 percent through mid-June while load factors have strengthened. (Some airlines, however, are posting a loss.)
- The global economy is restrained by government austerity and a softening in export demand with leading indicators suggesting most major economies are slowing. In response to deteriorating economic conditions, global central banks have lowered interest rates.
- This uncertain economic backdrop is not yet causing significant falls in tourism demand, but there is a trend of slowing growth. There are signs of mixed performance and slowing throughout Europe.
- Hotel data show signs of mixed performance throughout Europe. While Central and Eastern European destinations have performed well, some Southern European destinations have recorded falls in hotel occupancy during the first half of the year.
- Tourism arrivals data for the first half of 2012 reveal an uneven picture of growth in the major European source markets. Meanwhile, Russia is seeing strong growth in all markets.