ETC Trends and Prospects Q1 2023

A 62-page report produced for ETC by Tourism Economics including a large amount of data and accompanying commentary. 

A less perilous economic situation than had been anticipated is seen as helping to bolster prospects for the upcoming year, but nonetheless the report notes that the squeeze on disposable income brought about by inflationary pressures is still having an impact.   

One-in-three European destinations is reported to be ahead of its 2019 performance during the first quarter of this year.  Those destinations seeing the greatest deficit tend to be those that would traditionally have welcomed large numbers of visitors from Russia. 

Section 1 of the study presents detailed destination performance for 2022 while the following section focusses on the early months of this year.  In Section 3 the latest Tourism Economics forecasts are showcased, suggesting that Europe will welcome 8% more visitors this year than last.  The forecasts would appear to indicate that Central and Eastern Europe will continue to see a slower recovery than has been the case elsewhere. 

Aviation and accommodation sector trends are examined in detail in Section 4 while Section 5 considers the ongoing impact of the ware in Ukraine now more than a year after Russia’s invasion. 

As is usual for these reports there are then sections with a focus on key source markets for Europe and an examination of origin market shares before the economic outlook is explored in Section 8.