When planning a city break, modern travelers consider a range of pros and cons. Are the hotels up to standard? Where are the tastiest places to eat? And what exactly is there to do in the city?
Europe Travel Stocks Remain Healthy Despite Market Shift
25.08.2023 - 13:07 / skift.com
European travel stocks stumbled into some profit-taking as earnings season kicked off and extreme weather hit in July, but many investors are betting relatively attractive valuations and solid demand will keep supporting the sector.
An index of European travel and leisure stocks has risen 33% over the last year, beating even market favourites like luxury and defence and racing over 23 percentage points ahead of the broader market.
The index has fallen slightly from its May peaks, but is still one of the best performers this year, thanks to sharper price increases in items like airline tickets and hotel rates as Covid-19 curbs were phased out ahead of the summer holidays.
“For many people, the pandemic is now over, and this is time now for travelling far from home,” said Corinne Martin, fund manager at Ofi Invest in Paris.
Airlines, cruise operators and hotel owners have been key beneficiaries, but so have aircraft and engine-makers. The recovery in long-haul flying helped Rolls-Royce lift its full-year forecasts, sending its shares up over 20% on Wednesday.
The number of restriction-free countries has risen three-fold in one year to above 180 and international tourist arrivals are closing in on pre-panademic levels, according to data from the World Tourism Organization. Europe is among the regions with most progress.
The point at which China announced the end of health restrictions in 2022 was probably the best moment to jump into travel stocks. The STOXX travel index gained 20% in the first quarter of the year, the most since the roll-out of Covid vaccines in the final quarter of 2020, when it rose 29%.
Traders still see more opportunities ahead, even as markets face growing macro uncertainty and Europe grapples with extreme weather.
Headwinds facing Chinese travellers like passport delivery delays and expensive fares should progressively level off, Ofi’s Martin said. The Paris Olympics and the UEFA European Football Championship in Germany next year will also support growth.
“The global industry outlook looks good for 2024, but there’s probably less room for good surprises,” Martin said.
“Business travel still has room to catch up but is also highly sensitive to an economic slowdown.”
Goldman Sachs expects significant upgrades to consensus earnings estimates this year. For 2024, it sees the debate shifting to the durability of current trends, with rising UK unemployment leading to a moderation in leisure demand growth.
Ryanair, Europe’s largest airline by passenger numbers, posted record profits last week and said demand looked robust for the rest of the summer, although it cautioned tariff growth could soften. It saw no sign of a change in booking habits due to the heatwave in southern Europe.
BofA
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
theguardian.com
11.09.2023 / 10:21
Perfect harmony – six musical holidays in Britain and Europe
Every Easter, a sleepy corner of the Cotswolds transforms into a miniature version of the Blue Ridge mountains of the eastern US. The idyllic Kingham Hill private school, near Chipping Norton, is invaded by hundreds of banjos, fiddles, mandolins, guitars, a handful of dobros, and even the occasional autoharp. The reason for this is the appropriately named Sore Fingers bluegrass and old-time music week.
theguardian.com
11.09.2023 / 09:15
Me, myself and Interrail – a solo train trip around Europe
Does there come a point in every marriage when you realise you don’t know your spouse very well after all? For me, that moment came not when watching yet another ill-judged birthday present shoved to the back of my husband’s wardrobe, but when I noticed a half-price sale on Interrail passes and decided to book a pair for what I felt sure would be an excellent and perhaps even romantic late-summer adventure.
insider.com
30.08.2023 / 19:59
I backpacked across Europe for 2 weeks. Booking Airbnbs in small towns to save money was the most unexpected highlight of my trip.
When I planned my two-week backpacking trip through six European cities across four countries in October 2022, the last thing I expected was to be blown away by my budget bookings.
travelpulse.com
29.08.2023 / 22:37
Worldwide Hotel Prices Continue to Climb as Europe Surges
Hotel prices around the world have climbed this summer as Europe continues to thrive without coronavirus-related restrictions.
traveldailynews.com
29.08.2023 / 09:02
Travellers will pay 10% extra for sustainable travel despite cost of living crisis
Euromonitor’s report: 80% of travelers ready to pay 10% more for sustainable features despite living costs. 41% willing to pay 30% extra for adventure, eco-tourism. Europe leads Sustainable Travel Index 2023, Sweden tops, Uruguay enters top 20.
traveldailynews.com
29.08.2023 / 09:01
UK and Germany with the strongest hotel pipelines in Europe at Q2 2023
The cities in Europe with the largest pipelines at Q2 are led by London, with 82 projects/14,767 rooms, and Istanbul, with record project counts of 42 projects/7,222 rooms. Following are Lisbon, with 37 projects/4,262 rooms, Dublin, with 32 projects/6,173 rooms, then Dusseldorf, Germany with 31 projects/5,669 rooms.
traveldailynews.com
29.08.2023 / 09:00
Edmund Bartlett leads strong marketing push in Eastern Europe as tourism continues to drive Jamaica’s economic growth
Minister of Tourism of Jamaica, Hon. Edmund Bartlett has kicked off engagements in Eastern Europe with a marketing blitz to promote destination Jamaica amid the staging of the 19th World Athletics Championships underway in Budapest, Hungary.
theguardian.com
29.08.2023 / 06:35
10 of the best seawater swimming pools in the UK and Europe
Whether they are naturally formed, cast in concrete on a rock shelf or hewn from the rock itself, tidal pools solve a problem by providing safe access to the sea. Plunging into rich saltwater in a sheltered area protected from the turbulent waves, yet still refreshed by the tide twice a day, is an unfettered joy.
breakingtravelnews.com
28.08.2023 / 14:39
Bartlett Leads Marketing Push in Eastern Europe as Tourism Continues to Drive Jamaica’s Economy
On the heels of an impressive ninth consecutive quarter of economic growth for Jamaica’s tourism industry, Minister of Tourism, Hon. Edmund Bartlett has kicked off engagements in Eastern Europe with a marketing blitz to promote destination Jamaica amid the staging of the 19th World Athletics Championships underway in Budapest, Hungary.
euronews.com
28.08.2023 / 13:55
EU roaming charges: How much does it cost to use your phone in Europe?
Ever returned from a holiday to be slapped with an astronomical phone bill?
skift.com
25.08.2023 / 14:45
Americans Traveling to Turkey Are at All-Time Highs
No, you weren’t just imagining your social media timelines full of all your friends posting from Istanbul and Turkey this summer. It happened to be true.