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Market Report, "Travel and Tourism in France to 2017", Published

New Consumer Goods market report from Timetric: "Travel and Tourism in France to 2017"


Boston, MA -- (SBWIRE) -- 09/12/2013 -- France's economy contracted marginally in 2012, owing to weak private consumption and investment. Gross capital formation weakened sharply from 7.8% growth in 2011 to 4.9% contraction in 2012, mainly due to weak investor confidence. Owing to a deceleration in disposable income and fiscal austerity measures, private consumption also contracted by 0.2% in 2012, following 0.3% growth in 2011. Although exports recorded a growth of 2.3% in 2012, this was down from 5.3% in 2011. The French economy is expected to contract again in 2013, followed by a modest recovery in 2014.

Key Highlights

- The domestic tourism sector plays a vital role in France's economy. In 2012, France registered 200.4 million domestic trips, while the volume of outbound trips measured 25.9 million. Domestic trip flows are high compared to inbound trip volumes. Key festivals include Easter, Christmas and New Year, periods when many French citizens return to their hometowns to visit family and friends.
- The average expenditure per domestic tourist decreased from EUR2,403 (US$352.0) in 2008 to EUR232.5 (US$299.0) in 2012. Over the forecast period, the average expenditure is expected to reach EUR248.4 (US$319.5) by 2017, at a projected CAGR of 1.33%. Improved consumer confidence and an increase in mean household income will support this trend.
- The European region accounted for 83.1% of French inbound trips in 2012. Over the forecast period, the region is anticipated to account for eight of every 10 foreign tourist arrivals. In 2012, 42.14% of inbound trips were from Germany, Italy, the Netherlands, Switzerland and Spain. Leisure trips accounted for 71.8% of the total, and will continue to do so with a projected share of 70.9% in 2017. Business travel is expected to increase from 14.1% in 2012 to 15.3% in 2017.
- French people have the highest annual leave entitlements in comparison to the other European nations. They are entitled to 25 annual paid days' leave.
- French air traffic volumes increased during the review period. Passengers carried by French and foreign airlines reached 136.0 million in 2012, expanding at a CAGR of 2.61% during the review period. Over the forecast period, the number of passengers is expected to increase at a CAGR of 2.77% to reach 155.9 million. The total revenue is also anticipated to increase from EUR26.1 billion (US$36.4 billion) in 2012 to EUR31.7 billion (US$44.1 billion) in 2017. The growth is in line with the increasing tourist volumes and air capacity.
- The French hospitality industry's total revenues declined at a CAGR of 0.92% during the review period, partly due to weak economic conditions and the prevailing European debt crisis. However, the industry is expected to recover over the forecast period with total revenues expected to increase at a CAGR of 2.04%, to reach EUR23.2 billion (US$29.6 billion) by 2017.

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Companies Mentioned in this Report: Air Austral France, XL Airways France, Chalair Aviation, Air France-KLM, Transavia France SAS, Avis Location de Voitures, SAS, Europcar Groupe SA, Sixt SAS, Hertz France SAS, TT Car Transit SA, Four Seasons Hotel George V, Paris, The Westin Paris Vendome, Shangri-La Hotel Paris, Hyatt Hotels and Resorts France, InterContinental Paris Le Grand, Adaptours, Consult Voyages SA, Arts et Vie Paris, 123 Voyages, Alliance Travel Agency

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