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Up To 58% Fewer Tourist Arrivals in Europe, European Travel Industry Most Affected by Corona Crisis

In the period between January and May, 58% fewer tourists arrived to Europe than in the same period last year. The decline is greater than that in the Middle East, Africa and America. This can be seen in a new infographic from Kryptoszene.de

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America also experienced a 47% drop in tourist numbers over the same period, as has been shown by „UNWTO“ data. Europe has nevertheless been particularly hard hit, with only Asia-Pacific having suffered a greater impact on its tourism industry in the face of the corona pandemic.

Meanwhile, data from „Destatis“ show that the tourism sector has also had a bad summer and autumn. Between January and September there were 34.5% fewer overnight stays in Germany than in the same period of the previous year. The decline in the number of foreign guests was 59.3%

Tourism and Corona

The tense situation is also affecting the prices of hotels and tour operators. For example, a hotel room in Rome currently costs 25.5% less than it did last year. In London it is 25.2% cheaper, in Venice 16.1%.

Air traffic has also been severely affected. Although there are currently more flights than there were in the spring, there were 47.5% fewer flights worldwide in September than in the same month last year.

People‘ fear of contagion is one of the reasons for the precarious situation in the tourism sector. As the infographic shows, 44.55% of German citizens say that they are „very worried“ about getting infected with Covid19 while travelling.

Tourism Stocks

However, the infographics show that the majority of tourism shares are in decline. TUI is currently quoted 66.1% lower than a year ago. In the same period Carnival’s stock market value has decreased by a whopping 68.6%. Nonetheless in the last month certain stocks such as Booking Holdings or Expadia have increased slightly. This is probably related to the latest announcements concerning a corona vaccine.

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Raphael, studierter Politikwissenschaftler, ist unser Mann für detaillierte Analysen und Features. Er liefert ganz besonders spannende Themen und beschäftigt sich mit den Entwicklungen auf dem Börsenparkett, Digitalisierungstrends sowie mit Kryptowährungen. [email protected]

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