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Europe Tourism Market Forecast and Trends

The Europe Tourism market has accounted USD 895,727.82 in 2018 and is expected to grow nearly at a CAGR of above 5.8% to reach USD 1,295,914.51 Million by 2025.

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Europe Tourism Market Forecast and Trends

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  1. Europe Tourism Market

  2. The Europe Tourism market has reached USD 895,727.82 Million and  is expected to grow nearly at a CAGR of above 5.8% to reach USD 1,295,914.51 by 2026. Tourism plays a crucial role in European regions, adding to job and resource growth, sustainable development, improved cultural heritage, and influencing the European identity. Tourism-created infrastructure contributes more generally to local economic development, thus generating (or maintaining) jobs and helping to offset the decline in the industrial sector. The Tourism industry in European Countries makes a significant contribution to its economies. In previous years, Travel & Tourism supported 33.5 million jobs and 9.3% of total European GDP. By 2025, the Tourism industry's total economic contribution is estimated to grow to 38 million jobs and 9.9% of total European GDP. Also, Tourism will be a key to economic recovery for countries hit hardest by recession and crisis, including Greece, Spain, and Portugal. With the advancement in technology, traveling has become more comfortable as compared to previous years. The Internet has helped people to know about different countries, cultures, languages and has increased the desire to travel.

  3. With an increase in disposable income across the world and government initiatives of different countries to attract people is expected to drive the European tourism market. However, increasing crimes against tourists and growing threats to terrorism is the major restraint of the European tourism market. Increase in disposable income is the growth driver for the Europe Tourism market With the rise in disposable income across the globe, there is a rise in tourism. This is due to wage rises, and partly due to a decline in the price of essential goods such as food and clothing. Most households now have two income earners instead of one, have fewer children, and often have a private mode of transport.  All of these factors will contribute to the development of the European tourism industry. Get the Sample Copy of the Report: https://www.blueweaveconsulting.com/europe-tourism-market-bwc20089/report-sample

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