Best-in-class European tourism could reach 520 billion euros

The high end tourism, which accounts for 2% of accommodation facilities, and generates approximately 22% of the total volume of European tourism. Moreover, the sector contributes about 22% of spending on accommodation and about 33% of spending on culture, entertainment and shopping, helping to increase all links in the value chain. The fund has Growth potential up to 520 billion euroscan be accessed by focusing on SustainabilityAnd the temper natureAnd the InfrastructureAnd the Visa Policies And the exercise.

This is a summary of the results of the first report High end tourism in Eccia (the body comprising six prestigious European associations) led by Bain & Co.In cooperation with steering keysa company that analyzes travel trends based on international flights, Global Bluea company that deals with tax-free shopping services, for example virtuousa global network of tour operators specializing in luxury travel and the experience.

Research shows that the daily spending of a high-end tourist is 8 times higher than that of the average customer. section high end Moreover, it also has a multiplier effect on employment, with nearly twice as many employees (compared to low-cost tourism) for the same size of accommodation facility. The five major European countries (FranceAnd the GermanyAnd the ItaliaAnd the SpainAnd the United kingdom) generate about 75% of the value of high-end tourism and the study highlights the aggregate data related to the value of the high-end segment compared to the total value of tourism.

“High-end tourism is a resource for all European countries. And in major countries, such as Italy, the United Kingdom, France and Spain, this segment is even suitable for 20-30 billion euros. For other countries, such as Greece, it weighs more than 7% of GDP. Moreover, the increasingly curious and sustainable traveler is showing interest in new destinations, both in the most popular countries and in emerging destinations such as Croatia, Slovenia, Portugal and Nordic countries. Global excellence must be protected and developed for the benefit of all, which after the collapse due to the Covid virus – more than 70 billion euros linked to international travelers alone – is showing strong signs of rebooting,” they explain. Claudia DarbizioAnd the Global Head of Fashion and Luxury, And the Fabio ColacchioAnd the Partner in Bain & Company.

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The positive impact of high-end tourism is not limited to direct economic effects, nor to indirect effects (creating jobs, raising the perception of the overall tourism offer, attracting investments), but also includes intangible benefits, “indirect repercussions” that are the main factors.

“Europe is the number one tourist destination in the world, tourism is a strategic sector of the European economy, but there is still great potential that is not expressed in the high-end sector: while it accounts for only 2% of the accommodation business, the high value is around 130-170 billion euros and generates 22% of total tourism spending thanks to a strong multiplier effect – says Matteo Lonely, President of Altagamma and the new President of Eccia – The high-end traveler spends 8 times more than the average and produces significant spillovers on the territory: the plan for the development of high-end tourism in Europe can lead to an increase in value of up to 520 billion euros. I study Ikea It depicts this data and indicates some of the possible development tools: creating a sustainable and natural tourism proposal, improving advanced mobility infrastructure, simplifying visa issuance policy and a training system focused on hospitality.”

Maggie Benson

"Bacon trailblazer. Certified coffee maven. Zombie lover. Tv specialist. Freelance communicator."

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