Europe Tourism Market Forecast and Trends

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Europe Tourism Market
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The Europe Tourism market has reached USD
895,727.82 Million and  is expected to grow
nearly at a CAGR of above 5.8 to reach USD
1,295,914.51 by 2026. Tourism plays a crucial
role in European regions, adding to job and
resource growth, sustainable development,
improved cultural heritage, and influencing the
European identity. Tourism-created infrastructure
contributes more generally to local economic
development, thus generating (or maintaining)
jobs and helping to offset the decline in the
industrial sector. The Tourism industry in
European Countries makes a significant
contribution to its economies. In previous years,
Travel Tourism supported 33.5 million jobs and
9.3 of total European GDP. By 2025, the Tourism
industry's total economic contribution is
estimated to grow to 38 million jobs and 9.9 of
total European GDP. Also, Tourism will be a key
to economic recovery for countries hit hardest by
recession and crisis, including Greece, Spain,
and Portugal. With the advancement in technology,
traveling has become more comfortable as compared
to previous years. The Internet has helped people
to know about different countries, cultures,
languages and has increased the desire to travel.
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With an increase in disposable income across the
world and government initiatives of different
countries to attract people is expected to drive
the European tourism market. However, increasing
crimes against tourists and growing threats to
terrorism is the major restraint of the European
tourism market. Increase in disposable income is
the growth driver for the Europe Tourism
market With the rise in disposable income across
the globe, there is a rise in tourism. This is
due to wage rises, and partly due to a decline in
the price of essential goods such as food and
clothing. Most households now have two income
earners instead of one, have fewer children, and
often have a private mode of transport.  All of
these factors will contribute to the development
of the European tourism industry. Get the
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