Europe Tourism Market Forecast and Trends
The Europe Tourism market has
accounted USD 895,727.82 in 2018 and is expected to grow nearly at a CAGR of
above 5.8% to reach USD 1,295,914.51 Million by 2025.
According to the European Travel
Commission’s (ETC), Europe tourism enjoyed a healthy 4% increase in tourist
arrivals in 2019 compared to 2018. While the rate of expansion was moderate
compared to previous years across specific individual destinations, the overall
regional performance remains in the definite boundary. Increasing numbers of
tourist arrivals generate income and support employment and investment in
Europe, not only acting as a catalyst for economic expansion but also
contributing to and demonstrating the social and cultural value in the region.
The Tourism sector in European
Countries makes a substantial contribution to its economies. In previous years,
including tourism direct, indirect, and induced impacts, Travel & Tourism
supported 33.5 million jobs and 9.3% of total European GDP. By 2025, the
Tourism sector’s total economic contribution is expected to grow to 38 million
jobs and 9.9% of total European GDP. In addition, Tourism will be a key to
recovery for countries hit hardest by recession and the economic crisis,
including Greece, Spain, and Portugal.
Europe Tourism Market Overview:
Europe is one of the most visited
tourist attractions as the region is covered by many famous and unforgettable
historic sites, and also has beautiful ancient buildings and construction
works. Europe's beaches are clean, and sunshine makes the scenery stunning.
Tourism plays a major role in the
growth of European regions, contributing to the creation of jobs and resources,
sustainable development, enhanced cultural heritage, and the shaping of the
European identity. Infrastructure created for tourism purposes contributes more
broadly to local economic growth while creating (or maintaining) employment and
help counteract the decline in the industrial sector.
In Europe, Southern and Mediterranean
Europe is the most visited group of countries with about 193 million arrivals,
followed by Western Europe (171 million), Northern Europe (66 million), and
Central and Eastern Europe (70 million). Top five out of ten destinations in
the world are located in the European countries, which are France, Spain,
Italy, Germany, and the United Kingdom. Tourism can be particularly important in
remote, peripheral regions, where tourism-related services are often a
significant source of income for the local population. This is particularly
true in many of Europe's island states and areas, as well as in coastal and
alpine regions. The primary beneficiaries of the growing demand for services
relating to tourism in remote areas tend to be small and medium enterprises.
People across the globe have increased disposable income that they can
spend on themselves. This is partly
because of rises in salary and partially because the price for essential goods
such as food and clothing has fallen. Many families now have 2 income earners
rather than one, they have fewer kids and often have a private mode of
transportation. All of these factors
will lead to European tourism market growth.
Millennials have played a vital role in this change in tourism trends.
They love traveling and are excited about new technology as well. The combined
interest has created a new sense in which social media, apps, forums, and so on
play a vital role. By that same token, the travel industry has joined the fray
at changing its business model and product offering to attract tourists, as it
becomes increasingly aware of this phenomenon. The cell phone has become a tour
guide, the perfect locator for restaurants, travel agencies, maps, and much
more. During the whole buying process, and it is by the side. All these factors
have contributed to the rise in the European tourism market.
tourists, particularly murder and kidnapping, is quickly picked up by regional
and international media and can have both an immediate impact in terms of
cancellations and the issuance of travel advisories and a long-term impact. It
takes both a sufficient passage of time and a significant promotional effort to
persuade tourists to return to destinations that are widely seen as unsafe.
Increasing criminal and terrorists activities in Europe is the major restraint
for the Europe tourism industry.
Europe Tourism Market: By Type
Based on Type, the Europe
Tourism market is segmented into Local/Domestic, and International. International
segement dominated the market in previous years and is expected to grow at a
high CAGR during the projected year. International visitor to Europe from all
over the world is increasing. Growth in international tourist arrivals and
earnings continues to outpace the Europen economy, benefiting from growing
tourism income from both developing and advanced economies. Tourism exports
grew faster than retail exports for the seventh consecutive year, reducing
trade deficits in many countries.
Europe Tourism Market: By Purpose
Based on Purpose,
the Europe Tourism market is segmented into Adventure, Business, Medical,
Religious and Others. Adventure segment had the largest share in the previous
years and is expected to grow at significant rate. People across the world love
adventure travel. Every year, Europeans make 100 million adventure trips.
Besides there being many adventure travelers, they also contribute immensely to
the local economies they visit. Europeans seeking unique experiences, plus
changes in technology and the growing interest in wellness experiences, are
affecting the adventure tourism market, offering many opportunities.
hardly requires skills and experience. Some examples include fishing, hiking,
backpacking, birdwatching, camping, canoeing, horseback riding, kayaking,
safaris, sailing, and surfing. All these factor will lead to the Europe tourism
Europe Tourism Market: Country insights
By geography, the Europe Tourism Market segregated into France,
Spain, Italy, United Kingdom, Germany, Turkey, Austria, Greece and Others.
France dominated the Europe tourism market share with 89.6 million visitors,
and is expected to dominate the market in the forecast period. France is
world’s most visited country, due to the presence of enormous castles, palaces,
cathedral across the country. France is known for its Effiel tower, museums and
Spain tourism market is also expected to grow at a significant
rate due to the presence beautiful beaches, palaces, and its food.
Europe Tourism: Competitive Landscape
The Europe Tourism Market is dominated by many players, amongst
them, the major players are Intrepid Travel, Abercrombie & Kent, Topdeck,
Globus Journey, Trafalgar, Topdeck, Insight Vacation, Penguin Travel, G
Adventures, Tauck, Butterfield & Robinson, Zegrahm Expeditions and Other
Ø February 2020, Intrepid Travel, the founder of adventure travel
in Melbourne, Australia, partnered with travel publisher Lonely Planet to
create a new range of co-branded tour packages.
Ø February 2020, Insight Vacations has increased its support to
travel agents by relaunching its Agent App, now featuring new revenue enhancing
The objective of the Study:
Ø To analyze and forecast the Europe Tourism market size of the
market, in terms of value.
Ø To examine the careful market segmentation and forecast the
market size, in terms value, based on the country by segmenting the Europe
Tourism market into France, Spain, Italy, United Kingdom, Germany, Turkey,
Austria, Greece and Others.
Ø To outline, categorized and forecast the Europe Tourism market
based on the type, and purpose.
Ø To examine competitive developments like technological
advancement, services, and regulative framework within the Europe Tourism
Ø To highlight the impact analysis of the factors, affecting the
market dynamics such as drivers, restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively
analyze their market shares along with detailing the competitive landscape for
Scope of the Report
Business Questions answer by the report
Ø How will the market drivers, restraints and opportunities affect
the market dynamics?
Ø What will be the market size in terms of value and volume and
market statistics with a detailed classification?
Ø Which segment dominates the market or region and one will be the
fastest growing and why?
Ø A comprehensive survey of the competitive landscape and the
market participant players
Ø Analysis of strategy adopted by the key player and their impact
on other players.
Customization Scope for the Client
is our first and last priority and that is why BlueWeave Consulting offers
customization according to Company's specific needs. The following
customization options are available for the report:
Additional Company Information
Ø With five additional company detail analysis
Ø Additional country analysis
Ø Detailed segment analysis