Travel demand trends in the last three months of 2009 confirmed that the recovery was underway, although the growth was in large part due to comparisons with the low levels in late 2008.
Travel also shows signs of muted growth
Travel demand trends in the last three months of 2009 confirmed that the recovery was underway, although the growth was in large part due to comparisons with the low levels in late 2008. And the improvement, which benefited Europe less than most other regions of the world, came too late to make much difference to the final full-year results. In summary, for the travel and tourism industry, 2009 was undoubtedly a year to forget.
The outlook for growth in 2010 is more positive that it was three month ago - with more 'risk' to the upside. Europe's tourism performance in the first half of 2010 will of course be aided by comparison with the depths of the recession in 2009. However, some significant downside risks remain, including security concerns and the possibility (although now deemed less likely) of a more virulent A(H1N1) pandemic.
Tourism Economics' forecast remains muted for 2010 - in contrast to the situation in some previous recoveries, is does not expect a strong rebound.
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