SOURCE: Phocuswright Inc.

Phocuswright Inc.

December 18, 2014 14:00 ET

Phocuswright Research Finds Sputtering European Economy Halts Holiday Spending Recovery

NEW YORK, NY--(Marketwired - Dec 18, 2014) -  After climbing out from the depths of the global economic recession, Europe appeared to be on track for a lasting recovery. But despite some signs of progress, the region's economic rollercoaster continued in 2014, amid fears of a renewed slowdown in the region's largest economies. Branded as Europe's growth engine, Germany sputtered in the second quarter as the country's gross domestic product (GDP) contracted. Add to that geopolitical turmoil and deflation concerns, and it is clear that Europeans have plenty to be concerned about.

According to a new publication from travel industry research authority Phocuswright, consumer travel trends for 2014 are mixed, but positive indicators remain. Although travel incidence fell in France and the U.K., a larger share of German travelers took a leisure trip versus the previous year. And while Europeans in all three markets took fewer trips, they spent more, making cutbacks among those who did travel largely symbolic.

Consumer travel trends reflect a varied pattern of recovery across the Eurozone. In Germany, 74% of adults took at least one vacation over the past 12 months, up two percentage points. However, leisure travel incidence declined five percentage points in France (65%) and four percentage points in the U.K. (74%). At an estimated 36 million, Germany has the largest leisure traveling population by far.

Phocuswright's European Consumer Travel Report Fifth Edition provides a detailed view of European traveler behaviors and purchase trends to help travel companies gauge how macroeconomic conditions are impacting the European travel industry. The report tracks European travel trends across three key European markets -- France, Germany and the U.K. -- via a range of travel metrics.

Understand traveler preferences in the changing and dynamic travel landscapes in France, Germany and the U.K. with Phocuswright's European Consumer Travel Report Fifth Edition.

ABOUT PHOCUSWRIGHT INC. (www.phocuswright.com)

Phocuswright, the travel industry research authority, fosters smart strategic planning and tactical decision-making by delivering primary research on the evolving dynamics that influence travel, tourism and hospitality distribution. To complement its research in North America, Europe and Asia, Phocuswright partners with and produces several high-profile conferences around the world.

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