Luxury travel and tourism in Europe amid the pandemic

A Statista DossierPlus on European luxury tourism and the impact of COVID-19, with future outlooks

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In this study, luxury tourism was defined as all acquisitions of consumer goods, services, and valuables for and during trips by individuals who have a net asset of over one million U.S. dollars. With a complex analysis that takes data on overall tourism and such high-net-worth individuals into consideration, this DossierPlus gives valuable insight into the luxury tourism industry of Europe.

To provide country-specific data as well, the most significant luxury travel destinations before the pandemic in Europe have been identified. These trending destinations had the highest internal luxury tourism revenues in Europe in 2019. Thus, this research provides detailed information on the luxury tourism industry of Austria, France, Germany, Italy, Spain, Sweden, Switzerland, the Russian Federation, the United Kingdom, and Turkey. As a result of the pandemic, Germany was the leading market in 2020, followed by France.

This DossierPlus also breaks down luxury tourism into domestic and international inbound. The statistics reveal the impact of the corona pandemic on the luxury tourism markets of these countries and the most predominant trends. Austria’s luxury market is believed to have seen the strongest hit in 2020, but with a CAGR of 37 percent, it is also expected to grow most rapidly between 2020 and 2024.

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