Tourism Industry in Europe Back on Track

The tourists are now visiting Europe once again. The region’s tourism industry is slowly turning to the right direction. Accommodation bookings, air traffic, and shopping spendings have all risen as shown in latest reports. Could this be the start of a great economic outlook for the travel and leisure businesses?

When Britain voted to exit from the European Union, UK’s tourism has started to rise. A catapult in emerging markets led to the attraction of visiting travelers from varied countries, which included the likes of Brazil, Russia, and China. Even though the value of pounds declined, HSBC survey shows that travel in UK now remains healthy.

Jeff Meys of NN Investment Partners says that international travel for emerging markets has seen some significant growth and that the amount spent on trips has also increased. He also says that accommodations income has significantly improved in UK and Europe.

It can be recalled that the tourism industry suffered a great deal following the Paris attacks in January and November 2015 as well as the sad event in Nice in July. If the stats from MKG are right, the said events cost France about $675 million of revenue in year 2016. By the last quarter of last year, the number of people visiting Europe started to grow in number as seen by the stats from the agency, an indicator of the tourism industry’s recovery.

Some were skeptical about the reports, but companies like Spain’s Amadeus, a business that delivers booking systems for airlines, showed that their earnings have seen significant improvements. Similarly, Merlin Entertainments which oversees the operations of Madame Tussauds waxworks and other attractions claims that they also saw an increase in visiting tourists.

However, the question still remains — Is it really okay to visit this region? Well, tourism started to pick up, an indication that people think that it’s already safe to travel in here.