The Eastern European Affordable Resorts Market is poised to reach a valuation of US$ 335.1 Mn in 2022. Sales are projected to increase at a 14% CAGR, with the market size reaching US$ 1291.3 Mn by 2032.
Tourists travel most frequently to Europe, which also has the biggest global tourism market. Europe is home to a wide range of cultures, historical monuments, breathtaking scenery, and delectable cuisine. Locals all over the continent also promote a welcoming environment.
While Western Europe—which includes nations like France, Spain, Italy, etc.—captures the majority of interest, Eastern Europe has begun to draw attention from travelers looking for a cheap trip as well as those who want to discover new parts of Europe by travelling less-traveled routes. A significant increase in the number of travelers has been observed in some of Eastern Europe’s well-known regions, including Hungary, Slovakia, Serbia, Czech Republic and Romania.
The tour providers and resorts are offering exciting travel packages to attract more and more number of travelers. These packages include extra activities such as skiing which considerably expensive Western Europe by virtue of which there is a tremendous amount of tourists who have started opting for eastern European regions for their vacations.
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This trend is expected to continue and grow in coming years, while simultaneously boosting the Eastern European Affordable Resorts Market.
“Travellers wanting to enjoy the European Destinations at lower and affordable cost will prove to be beneficial for the growth of the Affordable Resorts Market in Eastern“Says an FMI analyst.
Key Takeaways:
- Based on destinations, Prague is predicted to account for a dominant share of Travelers in the market through 2032.
- By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~80%.
- In terms of age group, demand in the youngsters in the age group 26-35 years will continue gaining traction through 2032.
- Based on packages, Eastern European Affordable Resorts travelers will continue to opt tour group deals over the normal travel deals.
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Impact of COVID-19 on the Bicycle Tourism Market:
The tourism industry was the one who had a major setback due to the pandemic and its regulations. People were tired and bored of their monotonous lifestyle.
As a result, travel enthusiasts started coming out in large numbers once the situation came under control. However, there was also a great decline in the earnings of travelers due to the lockdown which forced people to look for cheaper and affordable tourism options including cheap modes of transport and affordable accommodations. This provided a boon to the Eastern European Affordable Resorts Market as tourists wished to experience Europe at a lesser cost.
Who is winning?
Leading players in the European Affordable Resorts Market are Accor, Best Western, Intercontinental Hotels & Resorts, Groupe Du Louvre, Carlson Rezidor Hotel Group, NH Hotels, Seven Seas Hotels, Atrium Palace, Concorde Deluxe Resort, Aurora Resorts and Michelangelo Resorts among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of the European Affordable Resorts Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Eastern Europe Affordable Resorts Market by Destinations (Czech Republic, Hungary, Slovakia, Serbia, Romania and others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 56-65 Years, 66-75 Years) & Region – Forecast to 2017 – 2032
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