Travel in Europe is proving to be resilient. Despite concerns about the global economy and signs of a slowdown at the end of 2011, many destinations are showing continued visitor growth in the early part of 2012. Air travel among European carriers has shown particular strength through early April, growing more than 5%. As anticipated, intra-regional travel is behind much of the growth.
Although only two months of data are available for 2012, relative strength is evident in major European source markets – implying greater internalisation of travel in the region. Russia remains a star performer in the early stages of the year. Although struggles for the US market are continuing into this year, Japan is continuing its resurgence.
Travel has been especially strong in Eastern Europe with occupancy rates surging by 7.5% in the early part of the year. Northern European hotel demand has also continued to grow with nearly 2% growth in occupancy.