• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

European tourism faces ‘challenging’ winter amid disposable income squeeze

3 years ago
in Economy, Features, highlights, Home, home-news, latest News, Lifestyle, Sports, Tourism
1 min read
0 0
0
109
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

European tourism faces ‘challenging’ winter amid disposable income squeeze

A “challenging” economic backdrop will lead to a difficult winter for the European tourism sector, with data for much of the region already indicating the start of a mild recession.

The downbeat assessment came as more than 30 tourism bodies met in Prague for the general meeting of the European Travel Commission (ETC).

ETC predicts that high inflation, a key factor behind the bleak winter outlook, will impact the travel recovery on multiple fronts.

National tourism organisations attending the event discussed  how consumers in key markets are expected to face “higher-for-longer” inflation levels and rising interest rates.

This will erode disposable income and reduce the scope for discretionary spending, delaying the recovery in travel.

At the same time, airlines and hospitality will face continued price pressures through elevated energy prices and higher labour costs, passing this on to consumers via rising fares.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

The NTOs agreed that it is vital now for ETC research reports to closely follow consumer confidence and travel sentiment in Europe and key markets to adapt the tourism offer and promotional activities addressing major traveller concerns.

ETC’s newest member, the State Agency for Tourism Development of Ukraine (SATD), attended for the first time to provide details on how Ukrainian tourism sector is coping with the war.

The conflict in Ukraine has caused uneven recovery of tourism across Europe, the meeting heard.

The sharpest declines in tourist arrivals were recorded in the Baltic states and eastern European countries bordering Russia or Ukraine, still recording drops of about 40% compared to pre-pandemic 2019 arrivals.

Planned joint marketing activities co-funded by the EU showcasing European destinations and tapping into new markets to replace Russian tourists will be the core priority to address this problem.

ETC president Luis Araujo said: “We are committed to ensuring the European travel sector successfully weathers the global impacts on the horizon this coming year.

“Over the course of the pandemic the travel sector proved itself to be resilient and highly adaptable.

“As it endures new challenges, I have ever faith that European tourism will continue to evolve, embracing new sustainable and digital travel solutions.’’

Tags: European tourism faces ‘challenging’ winter amid disposable income squeeze
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.