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Europe Daily Bulletin No. 11198
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BUSINESS NEWS NO 125 / (ae) tourism

Good performances on European market over first nine months of 2014. According to the European Travel Commission's (ETC) latest report, European tourism has grown throughout the first three months of 2014 by 4%. By strengthening ties with established markets and entering fast emerging markets, European destinations have become better prepared to face headwinds in the market. On the basis of these observations, the ETC is counting on growth of around 4% for the whole of 2014 and between 2.5 and 3.5% in 2015. According to the report, European Tourism - Trends & Prospects, European tourism grew strongly throughout the first three months of 2014. Growth in large destinations in Southern and Northern Europe exceeded expectations, and strong two-digit growth was reported by a large number of smaller destinations. Among Europe's top 10 destinations by international tourist arrivals, Spain, the second most visited destination, has grown by 9% through January to August. Turkey, ranked number four, mirrors this performance with a 7% increase. Germany, Europe's fifth most visited destination, has continued its strong track record with current performance at 5%. Greece, number 10, has grown by a stunning 16%, partly thanks to the recovery of business travel. Established source markets in Europe were the strongest contributors to the success of many destinations in the region. Outbound travel from Germany has grown steadily and is expected to reach all-time record volumes in 2014. The United Kingdom market eventually bounced back and delivered to its full potential, with growth in nights outpacing that in arrivals, even at traditional destinations such as Italy, Spain and Portugal. Many destinations also reported strong growth from the Italian market, despite its persistent economic recession. This may reflect Italians' increased propensity to travel abroad, seeking bargains outside of their national borders. Long-haul markets support the positive performance of European destinations even further, with strong growth from North America, explains the report. Outbound travel from Latin America has grown but in a less sustained fashion, whereas 2-digit growth was recorded in third-tier markets, such as India and UAE. Russian demand declined, however, due to geopolitical tensions at the borders with Ukraine and growth of only 3% is forecast for this period. (IL)

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BUSINESS NEWS NO 125
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