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Introduction: A previous study conducted by the tourism industry shows that the European luxury and high-end tourism market has huge scale and potential.

It is expected to triple in 10 years

Despite the continued absence of Chinese tourists after the repeated impact of the COVID-19 pandemic, Europe's luxury and high-end tourism market is estimated to be worth 130 billion to 170 billion euros a year, AFP reported.

Europe's luxury and high-end travel market is expected to triple in size in 10 years, according to a bain & Company study for ECCIA, an association of luxury brands.

According to Matteo Lunelli, ECCIA's new president: "Europe is the number one destination for tourism in the world, and the European high-end tourism market is worth between 130 billion and 170 billion euros a year."

While "high-end" tourists account for only 2 percent of total arrivals, they generate nearly 22 percent of total European tourism revenue, 22 percent of accommodation spending and a whopping 33 percent of spending on culture, entertainment and shopping, according to the study.

 

"High-end" tourists spend eight times as much as the average, and high-end hotels employ twice as many people as so-called "traditional" hotels.

France has a clear advantage

In Europe, France, Italy, Spain and the UK lead the luxury travel market with more than 20 billion euros, while Germany is similar to Switzerland with between 5 and 10 billion euros. However, other European countries are also doing well, such as Greece at €10bn (7 per cent of GDP) and Portugal at around €4bn - €6bn.

The study also highlighted emerging destinations such as Croatia, Slovenia and the Nordic countries, which are attracting tourists because of their natural beauty and sustainable development.

"We know that high-end travelers prefer To go to Europe for food, culture, history, art, shopping, but we're not as good at nature and fun" as destinations like Bali, Australia or Japan. "Benedicte Epinay, general representative of French luxury industry association ComiteColbert, explained to AFP.

Raising its value to 520 billion euros

"Europe has the means and good strategies to guide tourism in a sustainable and natural direction," according to Epinay. Not only to "attract tourists to Paris and the Chateaux of the Loire and the Cote d 'Azur, but also to the rest of France." "She added.

 

To that end, "we must increase infrastructure to facilitate travel to other destinations," she added, calling for "public policy" to promote "high-end tourism training so that Europe can be a reference in the world."

"Between 2030 and 2035, plans for high-end tourism in Europe could increase the value of the industry to 520 billion euros," He said, based on the study.

ECCIA also advocates easier access for tourists to certain parts of Europe. The report cites China's Hainan province as an example, which "aims to become a globally important free trade port on a par with Dubai and Singapore" and "has a special government-backed program to facilitate international tourists to visit hainan and help boost consumption of high-end luxury goods."