Summer tourism promises good times for Eurozone

 Tuesday, August 2, 2022 


Located on a cliff on the Amalfi Coast, Hotel San Pietro Positano is enjoying its best year with pandemic-fatigued travelers, especially the Americans, visiting Italy.

This summer, the hotel is charging an average rate of €1,800 for each night for a room. It witnessed a rebound in April and is fully booked till mid-October. Co-owner Vito Cinque said that for two years, no one could visit. However, now, everyone is dropping in.

The Eurozone’s flourishing tourism, supported by the single currency’s drop against the dollar, is indeed good news in a region that economists think will experience slump in the course of the second half of this year.

As per latest statistics, the currency area’s economy went up by 0.7 per cent amid the first and second quarters, which is a robust outcome compared to the 0.1 per cent that economists had predicted and a sharp difference with US gross domestic product figures during the equivalent period, which exhibited the world’s biggest economy contracted for the second quarter consecutively.

France, Italy and Spain witnessed better results when compared to the predictable numbers with travelers journeying to Mediterranean countries and relishing city breaks, thereby helping counterbalance the influence of swelling energy bills and cost of food on domestic demand. Mohamed Ichem selling macarons at Ladurée close to Paris’s Tuileries gardens, said that majority of his customers speak English. He said that tourists spend without calculating.

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