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European Tourism Recovery Continues Into 2024

European Tourism Recovery Continues Into 2024

Europe’s tourism industry is experiencing a robust recovery in the first months of 2024. The recovery is largely driven by strong intra-regional travel fuelled by Germany, France, Italy, and the Netherlands. Consumer travel spending is set to rise notably across Europe, hitting record numbers in the coming months.

This boost will support the travel and tourism businesses heavily impacted by the pandemic years and ongoing economic instability. Still, high prices and geopolitical risks remain key hurdles for tourism, as the sector as a whole also strives to adopt more responsible practices to benefit the locals and preserve the environment.

Countries in the Baltic region continue to lag behind due to challenges caused by the war in Ukraine, with Latvia registering the lowest post-pandemic international arrivals (-34%), followed by Estonia (-15%) and Lithuania (-14%). Despite challenges, consumer demand remains strong.

Inflationary pressures and geopolitical uncertainties remain significant concerns for the European tourism industry. The war in Ukraine continues to impact tourism flows, particularly in Central and Eastern Europe.

This summer will bring two major sporting events to Europe: the Olympic Games in France and the UEFA European Football Championship in Germany. The Olympics are expected to attract a surge in domestic and international tourists, with the impacts extending beyond the city of Paris itself.

 

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The first MICHELIN Guide to Latvia has been launched

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The inaugural MICHELIN Guide Latvia 2024 was launched. It features 26 restaurants spread across the country – 19 situated within Riga and 7 located outside of the capital – and includes one restaurant honoured with One MICHELIN Star, three restaurants awarded a MICHELIN Bib Gourmand, and one restaurant highlighted with a MICHELIN Green Star for sustainability.

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How is inflation impacting travel demand

How is inflation impacting travel demand

Inflation is the word on everyone’s lips right now and with good reason. No matter what industry you’re in the record level of inflation is having a big effect on day-to-day business. The hotel industry is no exception. Inflation and particularly rising energy costs are having a substantial impact on the hotel rate landscape.

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Hospitality industry trends 2022

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After the terrible blow of the pandemic, traveling is up and running again. The hotel and hospitality department of every management has undergone a certain change. While in 2020 and 2021, the popularity of staycations, hygiene protocols and contactless technologies - all now firmly embedded in the daily activities of hospitality businesses - has risen sharply, some new trends are emerging. Post-pandemic, they have also altered and modified after the shift in the current economy.

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