European Union Tourism Market

European Union Tourism Market Outlook (2022 to 2032)

An 8% compound annual growth rate is predicted for the European Union tourism market, which is currently valued at $585 billion in 2022 and is forecast to rise to $1262.97 billion in 2032.

Report Attribute	Details
European Union Tourism Market Value (2022)	US$ 585 Billion
European Union Tourism Market Anticipated Forecast Value (2032)	US$ 1262.97 Billion
European Union Tourism Market Projected Growth Rate (2022 to 2032)	8%

The European Union tourism market is growing exponentially owing to:

• Government entities and organizations such as World Tourism Organization UNWTO are promoting tourism in order to attract varied tourists
• The advent of the adventure travel sector has been a boon to the travel industry
• Rise of medical tourism. Across the globe, a growing trend is being driven by the substantial price differential of medical operations between countries.
• Increase in international sporting events.

Top Trends and Start-ups Redefining the European Union Tourism Market

Immersive Tourism

The demand for deeper experiences while traveling is on the rise, and immersive tourism is trying to meet that need. Using augmented reality (AR), virtual reality (VR), and mixed reality (MR), it improves upon and even offers simulated trips. Virtual reality (VR) uses computer-generated imagery to simulate real-world settings, letting potential visitors check out a destination before making the trip. Additionally, it provides visitors with a panoramic view of the attraction. By contrast, augmented reality improves vacations with helpful tools like interactive maps and commercials. Additionally, tour operators employ augmented and virtual reality-based gaming to increase attendance.

• The Italian start-up AR Tour creates excursions with augmented reality technology. The start-up's augmented reality glasses use digital reconstructions of ancient sites to provide a glimpse into their former glory. Visitors are given an audio-visual presentation detailing the significance and history of the place. In addition, the business creates lightweight AR glasses to alleviate inconveniences like traveler's illness. This is changing the European Union tourism market outlook completely.

Big Data

With the help of big data, travel companies operating in the European Union tourism market may use client trends for more targeted advertising. A user's past booking history is analyzed so that tailored suggestions for transportation, lodging, and entertainment can be provided. Future demand can be predicted using big data and analytics tools, allowing hotels and airlines to optimize revenue by booking during peak seasons. The enhanced analysis of transaction data is another way that big data is being used to combat cybercrime. Safeguarding their customers' financial and biometric data in this way is a top priority for travel agencies.

• CheckandPack, a Dutch firm, has developed a big data travel platform. It employs promotional efforts to learn about tourist habits and preferences. The platform gathers this information to help companies better target their outreach to tourists.

Ecotourism

Responsible tourism lessens the strain on natural resources and keeps local economies thriving. Many new European Union tourism market players are focusing on green tourism solutions like eco-lodges and solar-powered hotels. Additionally, while booking a flight with an airline, consumers can choose to offset their carbon emissions. Small businesses benefit monetarily from increased tourism, and more people find work as a result. In addition, it stresses litter prevention to reduce pollution and save time during clean-ups.

• The Green Stamp is a Dutch firm that facilitates the booking of ecologically responsible travel experiences. It customizes trips for visitors depending on their interests in things like landmarks and animals. Travelers may help these wildlife projects, which contribute to the well-being of local communities and the environment, simply by visiting them.

Artificial Intelligence

Hotels are increasingly turning to intelligent chatbots powered by artificial intelligence to provide guests with instantaneous responses to their questions and concerns. In a similar vein, travel chatbots facilitate hotel booking and collect user feedback, both of which are helpful to prospective travelers. Robots powered by artificial intelligence can now automatically clean hotels and bring guests their meals in their rooms. They help passengers with anything from directions to their bags. Using artificial intelligence, facial recognition technology can quickly and accurately verify a passenger's identity at airports, making the airport experience safer and more convenient for everyone. A growing number of firms are creating travel itinerary tools to help passengers save time and money while also making their trips more memorable.

• A company based out of the United Kingdom called Travel Professor had developed an AI-powered chatbot for tourists. The business has developed a chat widget that keeps tabs on a variety of airfare discounts and alerts users when their criteria are met. It suggests places to go and warns you when the price of a flight drops. This paves the way for cheap flights and more affordable vacations for tourists.

USA Contribution to Develop the European Union Tourism Market

For many years, the USA has been the primary source market outside of Europe, and it continues to lead in terms of the number of nights spent. In 2018, EU lodging businesses received 25 million guests from the USA, who spent more than 74 million nights, or three nights on average. The United Kingdom has generally been the top destination for USA tourists to the EU, with 14 million nights reported in 2018, while more current data is unavailable. Visitors from the USA spent 11 million nights in Italy and 8 million nights in France in 2019 pre-covid. Spain and Germany both recorded 6 million nights, while Ireland reported 4 million nights.

Asia Pacific to Aid in the Growth of European Union Tourism Market

Due to their quicker rise, the global market shares have increased (from 22% in 2030 to 30% in 2030) in Asia Pacific and Africa (up 7% from 2010), the Middle East (up from 6% to 7%), and they will all rise (by 5%). Consequently, Europe (up to 42% from the Americas (down to 14% from 16% from 51%), and a further decrease in their percentages of global tourism EU travel patterns. The long-term perspective of the UNWTO demonstrates that there is still a large possibility for more tourism increases in the forecast period, a +2.3% increase per year. International travelers are anticipated in the EU to expand by 2.3% annually in 2022, then 1.5% by the year 2030.

Pool of Opportunities and Challenges for Companies in the European Union Tourism Market

The competition in the European Union tourism market is complex. In order to be competitive in the face of heightened competition from locations outside the EU, it needs tailored assistance at all levels. The major growth opportunities in the EU tourism market include increasing investment, assisting SMEs, taking advantage of the potential presented by the digital and collaborative economies, and providing tourism professionals with the necessary training.

The tourist sector supports a sizable number of jobs in the European Union and has a plethora of business opportunities. In the EU's non-financial business economy, which encompasses the industries of industry, construction, and distributive trades and services.

However, according to a survey, 73 percent of European travelers questioned said they planned to travel domestically or inside Europe by May 2022, compared to 77 percent in March 2022. The impact of inflation on travel and tourism as well as the ongoing conflict in Russia and Ukraine, which as of May 2022 was regarded as the top concern among Europeans regarding vacations to Europe, may be contributing causes to the decreasing desire to travel.

The European Union is one of the most loved tourist destinations and is meant for its historical places. The beaches in this region are clean.

If we talk about countries per se, there are a huge number of countries to visit in the European Union. The region is home to some of the most beautiful mountains, and the diverse culture amongst various nations makes the entire region lively.

Not only that, but the European Union also contains certain ‘Wonders of the World’ which makes the region a popular holiday destination.

There are 24 official languages in the European Union. The most commonly spoken are English, French, and German. English remains the most spoken language despite Britain’s exit from the European Union.

The European Union also enjoys the image of being an extremely safe place. This can be explained by the fact that we can walk alone at the midnight in the streets of European Union, and instead of being anxious, we can enjoy the beautiful sight of the road.

What are the Current Market Dynamics pertaining to European Union Tourism Market?

The European Union is synonymous with some of the most beautiful buildings, and towers. If we talk about towers, France is the country which immediately comes to our mind. It is the home to one of the wonders of the world, which is the ‘Eiffel Tower’.

The Eiffel Tower is a major tourist attraction, and tourists from across the world visit France to get a glimpse of the Eiffel Tower, which was built for the purpose of celebrating the French Revolution. The Eiffel Tower is made up of wrought iron.

The Loire Valley in France is famous for its historic towns and castles. The place is famous for its picturesque landscape.

Britanny and Normandy in France are also meant for the beautiful landscape and the castles.

Alsace and Lorraine, the two Eastern parts of France, which are closer to Germany, have a strong German influence. Moreover, it is a treat to visit these places during Christmas because of the beautiful markets which are set up for people in the area.

Italy is another nation in the European Union, which remains right there on the traveller's list. Encapsulating history, food, music, art, and culture, Italy has got everything that a traveller wishes to enjoy.

Rome, which is the most visited place in Italy, has a lot to offer to travellers. It is home to some of the ancient sites like the Pantheon, the Colosseum, and Palatine Hill. The tourists also visit Borghese Gardens to spend some time relaxing.

Florence is another place in Italy, which is famous for its architecture. The Cathedral of Santa Maria del Fiore is especially popular and is known for its gigantic tomb. Florence is a perfect spot for experiencing Renaissance art.

Venice is another beautiful location where streets replaced by water and boats are the means of transportation. The major attraction in Venice is everything. The place is especially popular among newly married couples.

Italy’s most beautiful lake is Lake Como. It is a popular destination amongst the affluent. The villas are located at a point where the arms of the lake meet, making it appear extremely beautiful.

The Netherlands is another beautiful country that is a part of the European Union. Even Netherlands is famous for its culture, architecture, monuments, and food.

Amsterdam is one of the most beautiful places to visit in the Netherlands. It also has the reputation of being one of the most beautiful places in the world. The place is famous for its beautiful scenery.

Delft is another beautiful place that is located in the Western Netherlands. Delft is famous for its water canals, and artworks. People especially visit Delft to learn the art of pottery.

If we are looking for a place in the Netherlands which is a perfect amalgamation of culture and architecture, Rotterdam is the place to visit. Rotterdam is also famous for its zoo, and The Euromast Tower.

For enjoying the nightlife in Netherlands, it is best to visit The Hague. Some of the famous tourist spots in The Hague are Mauritshuis and Madurodam.

Spain is another beautiful country that is located in South Western Europe and is one of the most sought-after tourist attractions. Spain is famous for its food, scenery, and especially for its easy-going culture. Festivals like La Tomatina and La Fallas attract a huge number of tourists.

Barcelona is one of the most visited places by tourists across the world. It is believed to be Spain’s cultural capital and is the second-largest city in Spain. It is located near the coastal region. There are plenty of places to visit in Barcelona.

Some of the must-visit sites in Barcelona include Joan Miro Museum and La Rambla, which is a three-lined pedestrian-only street.

Another major tourist attraction in Madrid. It is a place that is famous for royal palaces, museums, and marching soldiers. If we visit Madrid, we should visit The Prado Museum, Reina Sofia Museum, and the Thyssen-Bornemisza Museum.

San Sebastian is a resort city that is located in the North of Spain. It is popular for surfing. Apart from that, tourists spend time on the La Concha beach or may go hiking up the Monte Orgull, which is a fortress-topped mountain.

Valencia is a beautiful port city which is located in Spain, and it is a major trading route for Spain via waterways. It connects Spain to Europe, the Middle East, and Africa.

Albufera Park is a site in Valencia, which is visited by tourists. The place is particularly famous for hiking.

Valencia is also home to the Museum of Fine Arts, which is a collection of Spanish arts.

Valencia is also famous for Mercado Central, a vast market hall, which is famous for cafes and tasty food.

There are other countries in European Union like the Czech Republic, Germany, Denmark, etc. which are famous especially for fun activities like trekking, surfing etc., and for historical monuments and heritages, which are huge tourist attractions as well.

Such experiences offered by the European Union are bound to increase the demand for European Union Tourism Market.

Even the European Commission had quite recently published a list of 186 promises, supporting greener, digital, and resilient tourism across Europe.

Previously, the commission had proposed that the EU budget be supplemented with an additional € 114 Billion to boost the economy, maintain sustainability, and create job opportunities.

These moves by the European Union Commission are anticipated to increase the demand for European Union tourism.

However, because of the current Russia-Ukraine war, the European Union tourism market is not performing as per expectations. The European Union is doing everything in its control to see to it that peace prevails between the two nations, and ultimately tourism thrives.

What is the Regional Outlook for the European Union Tourism Market?

The countries that have been analyzed are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

Of all the countries in the European Union, France is the most visited country in the European Union. France is followed by Italy, Netherlands, and Spain.

Who are Some of the Key Players in the European Union Tourism Market?

Some of the key players in the European Union tourism market are Topdeck, The Natural Adventure Company, G Adventures, Intrepid, Trafalgar, GJ Travel, Shamrocker Adventures, Exodus Travel, On Go Tours, Tauck, and Tuckan.

• Chantha Meas of the G Adventures won the Wanderlust World Guide Awards in 2019. His testimonials speak volumes about his work.
• Exodus Travel group won the sustainability champion award at the ‘Which? Awards 2022’ in recognition of their sustainability goals and initiatives.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 8% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2014 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Booking Channel Consumer Orientation Age Group Tour Type Tourist Type
Key Countries Profiled	Austria Belgium Bulgaria Croatia Cyprus Czechia Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden.
Key Companies Profiled	Topdeck The Natural Adventure Company G Adventures Intrepid Trafalgar GJ Travel Shamrocker Adventures Exodus Travel On Go tours Tauck Tuckan.
Customization	Available Upon Request

Key Segments Profiled in the European Union Tourism Market Survey

By Booking Channel:

• Phone booking
• Online booking
• In-person booking

By Consumer Orientation:

• Men
• Women
• Children

By Age group:

• 15-25 years
• 26-35 years
• 36-45 years
• 46-55 years
• 56-65 years
• 66-75 years

By Tour type:

• Independent traveler
• Tour Group
• Package Traveller

By Tourist Type:

• Domestic
• International

Frequently Asked Questions

What is the Demand Analysis for European Union Tourism Market?

Demand for the European Union tourism market is likely to grow at a CAGR of 8% through 2032.

What is the Expected Valuation of European Union Tourism Market in 2032?

The European Union tourism market is expected to be valued at US$ 1262.97 billion by 2032.

What is the Market Valuation of European Union Tourism Market as on 2022?

The valuation of the European Union tourism market is US$ 585 billion in 2022.