The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2018
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Europe is the third-largest region globally for travel transportation by value. As a mature market it saw slow but steady growth over 2013-2018. Europeans were loyal to their national scheduled airlines, however low-cost carriers were gaining share, and competition from them will intensify as they increasingly enter the long-haul sector. Meanwhile, cruises have the potential to be the next big growth area. Performance is expected to be resilient, though Brexit is a factor for uncertainty.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Western Europe is the third-largest region globally for travel transportation, giving the region a relatively high expenditure per capita. It is, however, a highly mature market with only a 2% CAGR over 2013-2018. Thus, opportunities in Western Europe arise from established high volumes rather than expanding demand.
Scheduled airlines were by far the dominant form of transportation across Western Europe. However, they were facing increased competition from the more dynamic low cost carriers, which represented the fastest growing category in most markets. There remains much untapped potential in low-cost carriers, especially in the emerging low-cost long-haul space.
Cruises represented by far the largest contributor to growth in the major German market. Furthermore, they were the fastest or second-fastest growing category in several markets, including Spain and Switzerland. With increased consumer awareness cruises could emerge as the next big growth area in Western Europe.
low-cost players Ryanair and easyJet, which had established a presence throughout Western Europe. However, there is still room for new entrants, as shown by Norwegian’s progress. Europeans remained loyal to their national airlines with very little change amongst the top six players. The exception was the
Steady forecast growth is expected across Western Europe. Business activity and consumer confidence are rising. Meanwhile, holidays remain high on consumers’ spending priorities. The outcome of the Brexit negotiations remains a factor for uncertainty, which could either restrain or boost demand in the short term.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.