First half 2017 outbound UK travel to Eurozone remains solid despite Brexit devaluation

Early indicators point to another year of rapid growth for European tourism destinations. Although results are not yet indicative of the full-year performance, they are in line with the healthy trajectory seen earlier this year. Tourism demand from intra-regional markets remains crucial for future growth. However, perceptions of safety and security across Europe will continue to drive displaced travel and is likely to slow the rate of expansion in the region.

The economic picture in the Eurozone looks brighter, helped by a domestic demand expected to benefit from healthy employment rates and raising wages. Outbound flows from Europe’s largest domestic source markets -Germany, France, Italy, UK- continue to drive intra-regional demand. Travellers from these markets seem to have changed traditional winter destinations (e.g. Austria or Switzerland) for more affordable options such as Bulgaria. Although the falling pound has made travel costs soar for UK travellers, growth in visitor arrivals from this market was solid.