In 2014 “Europe attracted 22 million more international tourists than it did in 2013” making it a record-breaking year for some hoteliers. So what do 2015 and 2016 have in store for the industry? PwC’s hospitality experts weigh in with the 4th edition of a 58 page report called, promisingly, Room for Growth.
The report examines the economic backdrop for the hospitality industry in 20 of Europe’s major cities, from Amsterdam and Belfast to Porto and Zurich. It answers important questions such as:
- What is the effect of emerging markets on Europe?
- How have falling oil prices affected consumer spending?
- How will Greece’s uncertain future in the Eurozone and regional instability further afield (i.e. Russia, the Middle East) impact economic growth?
- Which cities will experience more challenging conditions, why and what can they do?
- What can London expect in 2015-16?
Adaptive strategies for 2015 and beyond are discussed including the use of artificial intelligence (AI), how a global climate change deal may affect consumer behaviour, the all-important US economy, engaging with mobile technology and sub-Saharan Africa’s industry potential.
Room for Growth is a balanced industry report that recognises the many ongoing geopolitical issues and uncertainties, but also foresees growth as recovery from the recent financial crisis is replaced by prosperity and globalisation.