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The whole world is going through a tough phase. We all have recently had to deal with the pandemic, and now experience geopolitical uncertainties from the Russia-Ukraine war. But despite all the difficulties caused by these events, the economies of different countries of the world are still showing good results. A lot of credit goes to the tourism industry for that. Let's take a look at how tourism is doing in 2022, particularly in Europe and the US.
Overview of the tourism industry in 2022
According to the recent UNWTO report, the travel sector is back 60% to pre-pandemic levels as of the first half of 2022. Of course, this is definitely positive news for the economies of countries with developed tourism.
But right after the positive news about the recovery in the travel rate, there is also bad news: inflation has affected tourism as well. Significant increases in prices for everything from accommodations to flights are pushing some tourists away from travel, thereby holding back the pace of the sector's development. Also, inflation is forcing travelers to get smart about their travel planning. So, there is an increased demand for sites with promotions and discount coupons, like Promocodius. This option helps to reduce inflation’s effects while traveling.
Tourism’s contribution to the European economy
The tourism industry is a critical part of the European economy. According to the European Parliament statement on tourism, this sector accounts for up to 10% of the overall European GDP. This is exactly why the whole of Europe is fully committed to reviving this particular sector despite inflation and the geopolitical situation in the region.
France, Germany, Italy, and Spain, the top four countries in Europe, and surrounding areas heavily rely on tourism. The UK relies on tourism as well taking 10th place at the top of world destination places. The UK has a well-developed tourism system, particularly there are many agencies specializing in journey organization. Thanks to these agencies, tourists can get a good discount on impressions by using special codes and coupons, for example, an Evan Evans tours discount code, which is very helpful in terms of inflation.
Travel and tourism in the USA
The tourism and travel industry plays an equally important role in the US economy. The World Travel and Tourism Council (WTTC) forecasts 10% of revenue for the US economy in 2022 from this sector. The other reputable source, Statista, suggests that the revenue of the tourism industry in the USA should reach $175.4 billion in 2022.
Of course, the US tourism industry has also faced challenges but they are less noticeable than in Europe. In particular, the reason for this is America’s independence in terms of resources, including energy resources, which have become one of the critical factors in rising prices in Europe. In 2022, the American tourism sector experiences a decrease in international tourism, but this trend did not affect the overall results, since American tourism is mainly focused on the local level.
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