{"id":2928,"date":"2020-02-28T09:44:27","date_gmt":"2020-02-28T08:44:27","guid":{"rendered":"http:\/\/twissen.com\/?p=2928\/"},"modified":"2022-01-21T11:31:39","modified_gmt":"2022-01-21T10:31:39","slug":"tourism-catalyst-for-growth-the-last-quarterly-report-etc-confirms","status":"publish","type":"post","link":"https:\/\/twissen.com\/en\/trends-en\/travellers-en\/tourism-catalyst-for-growth-the-last-quarterly-report-etc-confirms\/","title":{"rendered":"Tourism as a catalyst for growth: the last Quarterly Report by ETC confirms"},"content":{"rendered":"<p>The last <a href=\"https:\/\/etc-corporate.org\/news\/etc-publishes-quarterly-report-4-2019\/\" target=\"_blank\" rel=\"noopener noreferrer\">European Travel Commission\u2019s Quarterly Report<\/a> (October-December 2019) confirms tourism as the third larger sector of the European economy and a key catalyst for economic growth. Despite global uncertainties and current risks, <a href=\"https:\/\/twissen.com\/en\/trends-en\/destinations\/international-tourist-arrivals-never-stopped-growing\/\" target=\"_blank\" rel=\"noopener noreferrer\">tourism proved its resiliency<\/a>, as we already reported, although <strong>3 factors can possibly change the outlook for 2020<\/strong>:<\/p>\n<ul>\n<li>Continued trade and geopolitical disruptions curbing global trade;<\/li>\n<li>The outbreak of Coronavirus and the consequent actions taken by the Chinese government;<\/li>\n<li>Weaker global economic activity;<\/li>\n<\/ul>\n<p>The slowdown in the growth of the RPK (Revenue Passenger per Kilometer) in Europe (+4.2%) is a reflection of the sluggish economic activity, according to the European Travel Commission.<\/p>\n<p>Nonetheless, <strong>Europe performed positively with a +4% in international tourist arrivals<\/strong> in 2019, confirming its position as the most visited region worldwide, although at a slower growth pace compared with 2018 (+6%).<\/p>\n<p>Thanks to consistent investment in infrastructures and tourism promotion, Montenegro (+21%), Turkey (+14%) and Lithuania (+10%) saw the number of arrivals soring more than 10%, whilst Slovakia (+9%), The Netherlands (+8%), Serbia (+7%) and Portugal (+7%) also outperformed the average.<\/p>\n<p>As the US-China trade dispute seems to abate, the same cannot be said for the battle China is fighting against COVID-19, which consequences are reflected in the projections the Tourism Economics made regarding <a href=\"https:\/\/twissen.com\/en\/trends-en\/travellers-en\/chinese-tourist-experience-beyond-the-shopping\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Chinese arrivals<\/strong><\/a><strong>, calculated in the range of 7% (most likely case) and 25% (downside case) lower in 2020<\/strong> compared to the pre-crisis estimate.<\/p>\n<p><a href=\"https:\/\/twissen.com\/en\/trends-en\/travellers-en\/coronavirus-a-matrix-helps-to-face-challenges-in-travel\/\" target=\"_blank\" rel=\"noopener noreferrer\">In this unstable scenario<\/a>, the US remains the largest long-haul source market to Europe, thanks to a lucky combination of low unemployment rates, the rise in wages and a strengthening of the dollar against the euro. As we already reported, <a href=\"https:\/\/twissen.com\/en\/trends-en\/travellers-en\/cultural-experiences-american-look\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>American travellers<\/strong><\/a><strong> are experiencing a period of positive economic conditions which will encourage them to travel more this year than the last<\/strong>.<\/p>\n<p>At <strong>Twissen<\/strong> we have observed that, although the outlook for 2020 is of cautious optimism and slow but steady growth, the outbreak and spread of Corona Virus (COVID-19) will undoubtedly affect, and is already affecting negatively the tourism sector and the destinations that benefited the most from Chinese demand.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The last Quarterly Report from the European Travel Commission confirms tourism a constantly growing sector,  but some external factors can change the outlook for 2020<\/p>\n","protected":false},"author":7,"featured_media":7116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[111],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tourism as a catalyst for growth: the last Quarterly Report by ETC confirms | Twissen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/twissen.com\/en\/trends-en\/travellers-en\/tourism-catalyst-for-growth-the-last-quarterly-report-etc-confirms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourism as a catalyst for growth: the last Quarterly Report by ETC confirms | Twissen\" \/>\n<meta property=\"og:description\" content=\"The last 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