Strong pent-up demand meets high inflation ahead of buoyant summer season
What you will learn:
Recovery looks to be in full swing going into the peak summer season of 2022, with savings accumulated through the pandemic supporting growth in the sector.
However, the savings base which was expected to bolster growth has been eroded by the increasing cost of living due to energy and food price hikes, among other things.
Staff shortages pose serious challenges for the sector going into the summer months, with headlines already being dominated by impacts of the shortage and an inelastic supply of workers.
Our past reports
European tourism seems to remain resilient to economic, pandemic and geopolitical headwinds. The ongoing Russo-Ukrainian conflict has led to an elevated oil and gas crisis.
In 2021, strong vaccination coverage in Europe, the EU Digital Covid-19 Certificate and the easing of travel restrictions set the grounds for tourism revival.
Tourism Economics is an Oxford Economics company with a singular objective: combine an understanding of tourism dynamics with rigorous economics in order to answer the most important questions facing destinations, developers, and strategic planners.
The European Travel Commission (ETC) is the non-profit organisation responsible for the promotion of Europe as a tourist destination in third markets.