Market Update – February 9, 2023

Market Update – February 9, 2023

Market Update – February 9, 2023 6912 3456 fame creative lab
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Please note: the following information has been compiled from the most important German-speaking Trade Media.


Current major topics within the tourism industry in the DACH region


  • This is what travelers will be like in 2033: Amadeus had already looked far ahead in 2008 and 2015 and used surveys to identify the travel types of the future. Seven years ago, the GDS operator used the results to develop six different types of travelers, including the cultural purist, who visits destinations to immerse themselves in the local culture, even if this is not always convenient. Another type was the Reward Hunters, people who – partly as a balance to the stress and effort of their working lives – are fixated solely on the enjoyment of travel. Many in this group crave an indispensable premium experience. Excited Experientialists – According to the Amadeus study, this group is characterized by a „try it out“ attitude toward life and travel. 44 percent here are childless and have middle- to high-income jobs and flexible work options. They have the attitude that you only live once and are more likely than other travelers to act on instinct. They don’t think much of early and extensive travel planning. Memory Makers – This group has a simpler approach to travel: Making memories and visiting places. 44 percent are 42 years and older and exhibit habitual travel behavior. The future can be a scary prospect for them. They put people first and place less emphasis on technology and sustainability. Memory makers include German travelers in particular: 45 percent of the German citizens surveyed fall into this category. Worldwide, their share is 17 percent. Travel Tech-fluencers – This group includes today’s young business travelers who have a future-oriented outlook on life. Nearly half of the group are under 32, and their outlook is symbolized by the amount of technology they own. However, there is disagreement about what excites them and what worries them about the future of technology and travel. Pioneering Pathfinders – Individuals in this group live exciting lives, always looking for the next adventure, according to Amadeus. Four out of five are between the ages of 23 and 41. They like to plan, but are not afraid to take risks and are open to new experiences. This group is more willing than others to let the aspect of sustainability influence their decisions. According to the Amadeus study, the three biggest concerns of Germans with regard to travel in 2033 include prices that are too high and make vacations unaffordable (42 percent), a lack of data security due to cybercrime (38 percent), and political instability in vacation destinations (36 percent). Read more


  • January with record sales in vacation travel bookings: The hopes in travel distribution have been fulfilled. What was already indicated in December 2022, January has now confirmed: Many vacationers are again booking their trips for the summer early, making the first month of the year what it was before the Corona period: the main booking month for summer vacations. According to the Midoco Travel Index (Mtix), incoming orders for vacation travel in stationary and, even more significantly, online sales are clearly above the old record levels of the last pre-Corona year 2018/19. Only the business travel segment has remained at almost the same level since mid-January after a significant increase in the first few weeks. Read more


  • 2023 could become a record year for travel: Already, 60 percent of people in Germany had planned a vacation trip of at least five days, according to the tourism analysis published today in Hamburg by the BAT Foundation for Future Issues. Only 20 percent were already certain not to travel this year, and another 20 percent were still undecided. Travel frequency in 2023 is thus likely to be at least at the pre-Corona level – if not above, the study says. For the study, the GfK institute surveyed 3,000 women and men aged 18 to 74 online in December 2022 and January 2023. Basically, two central points can be noted: Spending on vacations is high and usually cannot be paid for out of current income. It is not enough to simply save the vacation money. Instead, compromises must be made in other areas of life to reduce spending in selected areas. The vacation is and remains for many citizens the highlight of the year. It is worked, planned, looked forward to and also saved, in order to then finally pack the suitcases and travel. The demands placed on vacations are correspondingly high and varied. Travelers are looking for relaxation, new experiences, new impressions, new acquaintances or time for themselves and their families. More than half of Germans restrict themselves in their everyday lives to avoid having to spend the best weeks of the year at home. The younger generation is particularly likely to save for vacations. To this end, they postpone purchases, go out less often or consume less. Read more


  • Business travel in Europe has recovered to 60%: International business travel bookings in Europe have recovered to 60% of pre-Covid levels, according to the latest Global Business Travel Association (GBTA) survey. In North America, recovery is only at about 50% of 2019 levels for international business travel. Globally, the recovery rate for international travel is 54%, according to GBTA’s global survey of 600 travel managers, suppliers and industry personnel. In domestic business travel, however, Europe lags behind North America in recovery. Europe has reached 63%, North America is already at 68%, and the global average is 67%. Read more


Current topics within the transportation industry in Germany & Europe  


  • Air traffic reaches two-thirds of pre-crisis levels: Aviation has left 2022 in much better shape than it started it, is how Willie Walsh, chief executive of the International Air Transport Association (Iata), summarizes the course of the past year. Overall, global revenue passenger kilometers (RPKs) were back at 64.4 percent of pre-crisis levels in 2019, so there is still some way to go before the market fully recovers. In this context, international air traffic grew by 152.7 percent in 2022 compared to 2021 – fueled in part by the elimination of corona entry restrictions in an increasing number of countries. Looking ahead to 2019, the RPK level was 62.2 percent. Read more


  • Royal Caribbean expects record year in 2023: Royal Caribbean Group, the world’s second-largest cruise line behind Carnival Group, releases 2022 year financials and provides an outlook for this year. The publicly traded group expects adjusted Ebitda to exceed the previous record set in the pre-Carnival year of 2019. The group forecasts adjusted earnings per share in the range of the equivalent of 2.80 to 3.30 euros. Analysts had expected an average of 3.04 euros. Adjusted Ebitda is the company’s earnings less taxes, interest, depreciation and amortization as well as extraordinary costs. Following the announcement, the share price rose by a good twelve percent to 70.65 euros. The share peaked at around 78 euros in April 2022. Read more


  • Boeing delivers last jumbo jet: It revolutionized aviation and, with its distinctive hump, is still considered an attraction in the sky: the Boeing 747 – once the largest passenger aircraft in the world, celebrated as the „Queen of the Skies“. But after more than 50 years, the U.S. manufacturer is finally phasing out the legendary jumbo jet. The last newly built 747 has now been handed over to cargo carrier Atlas Air at a farewell ceremony at the Boeing plant in Everett near Seattle. In 55 years, Boeing built a total of 1574 747 jumbo jets for more than 100 customers, including Lufthansa. The 747 had long been considered a discontinued model, and was last built only as a cargo version. Read more


  • New app as a digital companion: The new Lufthansa app is designed to act as a „digital travel companion“ to proactively support passengers from booking to arrival at their destination by providing relevant updates and suitable offers through push notifications and real-time information at the right time of travel. With the launch of the new Lufthansa app, Austrian Airlines, Brussels Airlines, Lufthansa and SWISS are using a joint app solution for the first time. Read more


  • Lufthansa secures more sustainable fuel: Airlines want to improve their environmental balance sheet with the help of Sustainable Aviation Fuel. Lufthansa is no exception. The Lufthansa Group and energy company Varo Energy are expanding their long-standing partnership and have signed a memorandum of understanding (MoU) on the production and supply of sustainable aviation fuel. This means that Varo could supply the Lufthansa Group with large quantities of Sustainable Aviation Fuel (SAF) to the hub in Munich, among other places, as early as 2026. The Lufthansa Group has set itself ambitious climate protection goals and – like numerous other airlines – is striving for a neutral CO₂ balance by 2050. Already by 2030, the aviation group wants to halve its net CO₂ emissions compared to 2019 through reduction and compensation measures. Read more


Destination news

  • Chile: Hundreds of forest and bush fires have claimed numerous victims in the Chilean regions of Ñuble, Bío Bío and Araucania, the latter also known as „Chilean Switzerland“. Tens of thousands of hectares of land have already been destroyed, and large parts of the country are suffering from smog. Chile is currently experiencing a severe summer heat wave.
  • China: After the end of the strict Corona measures, Hong Kong wants to win back tourists with a charm offensive. To this end, the government of the Chinese special administrative region is giving away airline tickets. Chief Executive John Lee announced that 500,000 free airline tickets will be distributed to visitors from all over the world starting in March. The tickets are to be available through local airlines. Other free flights would be reserved for Hong Kongers and visitors from mainland China. Hong Kong is aiming to return to the spotlight with a large-scale campaign. The Hong Kong newspaper „South China Morning Post“ spoke of the equivalent of 255 million U.S. dollars (equivalent to 231.7 million euros) for the entire campaign. In addition to the campaign Hong Kong eliminates proof of vaccination. All international entrants who are at least four years old on the day of arrival in Hong Kong now only have to provide proof of a negative PCR test or a negative rapid test. The PCR test must have been taken within 48 hours prior to departure for Hong Kong; for the rapid test, a period of only 24 hours prior to departure applies here.
  • Indonesia: Bali struggles again with overtourism. Bali’s culture of tolerance is often abused, says tourism professor Agung Suryawan Wiranatha. The Indonesian island sells itself far too cheaply. Above all, there is an oversupply of accommodations. In 2010, the provincial government had issued a voluntary moratorium in view of the then 40,000 rooms. No one complied, and today there are 60,000 rooms, the professor complains.
  • Israel: Last year, almost 2.7 million foreign visitors traveled to the Holy Land. This compares to just 397,000 in 2021 and 831,000 in 2020. Tourism to Israel in 2022 thus again reached 60 percent of the travel volume of the pre-Corona year 2019. In the 2022 annual statistics, Germany continues to rank third among source markets compared with other Western European countries: a total of 149,100 German citizens traveled to Israel. Ahead of Germany, France ranked first with 231,500 tourist arrivals and the United Kingdom ranked second with 174,600 travelers. Tourism Minister Haim Katz expressed confidence in breaking the 2019 tourism record in the near future.
  • Netherlands: Overtourism has long been a problem in the Dutch metropolis of Amsterdam. Active tourism marketing is therefore hardly practiced anymore. In 2024, buses carrying vacationers will also no longer be allowed to drive into the center. The heavy buses were causing too many problems, the authorities announced. The buses would have to stop outside the center and passengers would have to transfer to public transport. The rule applies to buses weighing 7.5 tons or more, they said.
  • Qatar: Anyone wishing to enter Qatar has needed health insurance accredited by the Qatari Ministry of Health since February 1. Guests who apply for a visitor visa via the Ministry of Interior’s website or the Metrash app are redirected to the Ministry of Health’s website. There, they can select one of the insurance companies registered with the Ministry. Once the insurance policy is issued, the visitor visa will be issued, the Ministry of Health site says. According to the Foreign Office, the cost of the insurance is 50 Qatari riyals, the equivalent of about 14 euros. 
  • Saudi Arabia: The goal is highly ambitious: Saudi Arabia wants to become one of the world’s most visited vacation destinations by 2030. To achieve this, it is also relying on stopovers. To this end, the country is now introducing a free four-day visa. The new visa applies to vacationers entering the country by air. It has an electronic form and entitles the holder to a four-day stay in the kingdom. Unlike the classic Saudi Arabia visa, it costs nothing and is issued together with the air ticket.
  • Spain: Already an excellent summer is emerging for the Balearic capital. This reports Lucia Escribano, director of Tourism Mallorca. „This is going to be a wonderful year,“ she said, „There are advance bookings like never before.“ That applies to almost all markets, she said – with numerous bookings also trickling in from France and Scandinavia, as well as mainland Spain. Last year, 3.9 million Germans traveled to their favorite island in the period from January to November. This meant that guest numbers almost matched the pre-Corona year 2019 figure of 4.1 million visitors. Escribano expects that number will definitely be surpassed this year.
  • Turkey: Last year, 51.4 million tourists visited Turkey, Turkish Tourism Minister Mehmet Nuri Ersoy recently announced. He added that Turkey has long since started to put its focus on the issue of sustainability. With nearly 5.7 million arrivals, Germany was Turkey’s top source market, followed by Russia with 5.2 million, the United Kingdom with 3.4 million, Bulgaria with 2.9 million and Iran with 2.3 million visitors. This is according to data from the Turkish Ministry of Tourism.


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