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Sputtering European economy halts holiday spending recovery.
Friday, 19th December 2014
Source : PhoCusWright Inc.

After climbing out from the depths of the global economic recession, Europe appeared to be on track for a lasting recovery, but despite some signs of progress, the region's economic rollercoaster continued in 2014, amid fears of a renewed slowdown in the region's largest economies.

Branded as Europe's growth engine, Germany sputtered in the second quarter as the country's gross domestic product (GDP) contracted. Add to that geopolitical turmoil and deflation concerns, and it is clear that Europeans have plenty to be concerned about.

According to a new publication from travel industry research authority Phocuswright, consumer travel trends for 2014 are mixed, but positive indicators remain. Although travel incidence fell in France and the U.K., a larger share of German travelers took a leisure trip versus the previous year.

And while Europeans in all three markets took fewer trips, they spent more, making cutbacks among those who did travel largely symbolic.

Consumer travel trends reflect a varied pattern of recovery across the Eurozone. In Germany, 74% of adults took at least one vacation over the past 12 months, up two percentage points. However, leisure travel incidence declined five percentage points in France (65%) and four percentage points in the U.K. (74%). At an estimated 36 million, Germany has the largest leisure traveling population by far.

Phocuswright's European Consumer Travel Report Fifth Edition provides a detailed view of European traveler behaviors and purchase trends to help travel companies gauge how macroeconomic conditions are impacting the European travel industry. The report tracks European travel trends across three key European markets â€" France, Germany and the U.K. â€" via a range of travel metrics.

Key topics include:

  • Analysis of general travel metrics by market, including leisure travel incidence and expenditure, frequency and duration of trips, international travel and travel party composition
  • Purchase trends for key travel segments, including air, hotel, car rental, packages, private accommodations and more
  • The travel planning process â€" including online and offline channel usage across destination selection and shopping phases of travel planning
  • Online/offline booking analysis by market, as well as online booking trends across key travel products including lodging, air and rail

Understand traveler preferences in the changing and dynamic travel landscapes in France, Germany and the U.K. with Phocuswright's European Consumer Travel Report Fifth Edition.

About Phocuswright Inc.

Phocuswright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased, Phocuswright fosters smart strategic planning, tactical decision-making and organizational effectiveness.

Phocuswright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. Our marketplace intelligence is the industry standard for segmentation, sizing, forecasting, trends, analysis and consumer travel planning behavior. Every day around the world, senior executives, marketers, strategists and research professionals from all segments of the industry value chain use Phocuswright research for competitive advantage.

To complement its primary research in North and Latin America, Europe and Asia, Phocuswright produces several high-profile conferences in the United States and Europe, and partners with conferences in China and Singapore. Industry leaders and company analysts bring this intelligence to life by debating issues, sharing ideas and defining the ever-evolving reality of travel commerce.

The company is headquartered in the United States with Asia Pacific operations based in India and local analysts on five continents.

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