How Bullish Is the European Travel Market?

Europe has always been one of the two major international travel regions for North Americans, and while its growth was slowed by the pandemic, it’s back on top of travel wish lists.

According to TMR’s latest research, the Outlook on European Travel Trends 2023, sponsored by ALG Vacations, Europe accounted for 40% of all annual sales in 2022 and advisors expect that to grow even further, with most saying sales could double in 2023.

Here are just some of the bullish stats on European travel, according to the Outlook:

• 65% of those booking European vacations were repeat travelers and 56% were booking trips with multiple countries.
• 57% of advisors said that the premium hotel segment was the most booked accommodation type. Budget is the least preferred category.
• Couples (74%), seniors (72%), and empty nesters (71%) continue to be the top client segments that advisors plan to sell to in 2023. Growth is likely in the luxury (70%), multi-generational (69%), and millennials (54%) segments.
• Advisors expect the highest growth in 2023 from the affinity groups client segment (43%).

All the data, including information on what destinations are most, and least, trending and how clients like to be communicated to, can be found in the Outlook, which is available in full here.

The Outlook is one of many that TMR has released recently as resources to help travel advisors build their business, and suppliers know how to best serve their partners. Others include recent releases on Ocean Cruise trends and River Cruise trends, along with a recent white paper on technology.