Tourism: Europe is well above 2019 levels

According to data from the International Monetary Fund's World Economic Report (2023), global tourism has returned to pre-pandemic levels. Visual Capitalist provides us with a comparison of the graphs on tourist flows in different parts of the world and, from these data, we can immediately see how Europe is the winner of these flows, both the southern one (Spain, Greece, Italy) and as a whole . On the contrary, at present, the losers are the USA, which is struggling, perhaps also due to the revaluation of the dollar, to return to the previous level.

We visualize monthly arrivals of foreign visitors in various regions, compared to 2019 levels

Europe is leading the way as a destination for tourism recovery

Having been the first sector to suffer almost immediately due to the lockdowns and border closures prompted by Covid-19, global tourism has seen a steady recovery over the past year and a half.

In fact, Europe was the first region to return to pre-pandemic levels in April-May 2022, with the United States almost approaching that milestone in July of that year.

In the tables below we show the relative scale of monthly arrivals of foreign visitors in various regions, indexed to December 2019 levels. Numbers below 100 indicate that there were fewer foreign arrivals than in December 2019 and vice versa.

The problem is that now this rapid recovery in Southern Europe risks sending the prices of tourist facilities skyrocketing, to levels much higher than those before 2019. It would be necessary to soften the regulations, for example on short-term rentals, to contain the prices and be able to fully enjoy these flows.

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The article Tourism: Europe is well above 2019 levels comes from Economic Scenarios .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/turismo-leuropa-e-molto-al-di-sopra-dei-livelli-del-2019/ on Sun, 03 Dec 2023 06:15:20 +0000.