The Russian special operation, as well as the imposed sanctions and the fuel and financial crisis that “covered » Europe, in response to sanctions, can be defeated by the desire of Europeans to travel – such an assessment was presented by experts from the Association of European Travel Agencies and Tour Operators (ECTAA). According to their data, in many markets – primarily in Germany, there is a noticeable decrease in the number of bookings, which was caused by “insecurity”.
“Consumers are reluctant to make new bookings,” the ECTAA said. They also added that it is still too early to make accurate forecasts for the upcoming season, but demand is no longer what they expected. At the moment, the main bookings are made in Greece, which is about to open the tourist season, as well as in Spain and Croatia. The main market supplying tourists is Germany, as well as Austria, Sweden and part of the countries of Eastern Europe. And on their side, bookings have slowed down.
“In addition to the feeling of insecurity, the fall in bookings is also affected by the rise in travel prices, which will increase even more in the coming period,” experts say. In the second half of 2022, they predict an increase in the cost of travel as a result of rising energy prices and the rising cost of basic goods – and this is of particular concern. Including because the price increase “combined with the decrease in the purchasing power of travelers due to inflationary pressures” will further deter potential tourists from buying a tour. It is preliminary calculated that the cost of a trip to Europe will increase by at least 5-10%, and “long-haul” travel to and from the EU will rise in price by at least 10%, but rather more. In general, we can say that prices and the state of the wallet of tourists experts are much more concerned about security. In the survey, the majority of ECTAA member associations ranked high energy prices as the top reason for their concern – 86.7% named them; followed by longer and more expensive flights at 33.3% and the fact that consumers will have less money to spend 66.7%.
To cut losses, travel agencies and tour operators are currently focusing on promoting Europe as a safe destination for distant markets,” experts say. They also urge once again to take measures to help tourism enterprises.
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