Published on : Wednesday, March 8, 2017
According to a new study, hotel occupancy and revenues should be driven this year by flexible European economies, continued popularity of Mediterranean destinations and Europe’s importance for business travelers. While security worries saw mixed results for some city destinations in 2016, in general it was another record year for European tourism with 12 million more visitors and a total of 2.8 billion nights spent in tourist accommodation.
In this year, an influx of US tourists and a booming Asia should drive hotel trading. Majority of city destinations are likely to witness continued growth. The majority of cities, with the exception of Geneva and Zurich, are anticipated to achieve revenue growth in 2017 and almost all cities should see additional growth in 2018. Looking forward to 2018, Porto is expected to maintain its double digit revenue growth at 12.8%, followed by Budapest (9.9%), Madrid (8.2%), Dublin (7.4%), Lisbon (6.8%), Paris (5.8%), Barcelona (5.2%), Berlin (3.1%) and Frankfurt (3%). The UNWTO has forecasted a 2%-3% rise in global tourism for 2017.
To quote PwC head of hospitality and leisure research, Liz Hall, “Many destinations have invested in improving and promoting the quality of their tourism services and with tourism set to rise again this year, many of the cities can expect good growth. A strengthening dollar will make trips to Europe popular, with a weak pound making London in particular, even more attractive. However, this will be balanced by unprecedented geopolitical uncertainty and travellers’ security and safety concerns remain.
Tags: US and Asian travelers