Published on : Wednesday, October 10, 2018
M&G Real Estate has published its recent European Outlook report, providing a complete, cross-sector review of prospects and performance all over the continent.
Among the main takeaways, the report mentions that retail rental growth accelerated in the second quarter of 2018, led by Paris (6.8 percent), Prague (5 percent) and Madrid (3.7 percent). With the highest inbound tourism market worldwide, Europe drew more than 670 million international tourists last year, accounting for half of the world’s total.
Record prediction of arrivals in well-known tourist destinations like Milan, should carry on delivering healthy growth, with consumer sentiment all over the continent running above historic averages.
Urban areas seems to be among the well-known destinations with tourist inflows accounting for two-thirds of the total number of visitors nights spent in the EU-28, which witnesses Milan, Rome and Paris taking top billing. Next to Munich and Stockholm, these cities are also among the fastest growing urban populations, which are creating rising consumer base that requires goods and services.
In 2017, an estimated 6 million Chinese citizens visited Europe, up 26 percent on 2016. With simplified visa requirements all over Schengen area and a record arrival of tourists from Asian markets, mainly China, this catchment is expected to jump again, making Europe the second most popular tourist destination after Asia itself.