INTRODUCTION
In April 2022, as summer travel was beginning, only a handful of European countries had eased their
COVID-19 travel restrictions for non-EU travelers. In the initial days, Americans showed a preference for
travel closer to home, choosing Caribbean and Mexican shores over Europe. However, by December
2022, as traveler confidence increased, European land vacations came into vogue again.
A report by the tourism market research firm Destination Analysts stated that 31% of Americans were
more interested in international, rather than domestic travel. Another research report also said that 62%
of the flight searches for 2023 in the first week of December 2022 were for international destinations, up
from 55% for the same time the previous year
1
. All this is indicative of the big travel boom expected on
the US-Europe route in 2023, riding high especially on the dollar strength against the Euro.
There are many factors here that should be encouraging to the advisor.
In the pandemic years, many travelers explored camping trips in their own country. Now, with the
opportunity having opened up, there is an eagerness to experience new cultures and cuisines — one of
the many strengths of Europe. Advisors have shared in the TMR Europe Trends Outlook 2023 that most
clients want to experience urban centers and small towns or the countryside in Europe. Experiences such
as camping trips and amusement parks, have a lower preference as these are also available in the US and
Canada.
Advisors have expressed a bullishness towards European vacations in 2023 and some client segments that
are particularly promising are the luxury, multi-generational, millennials and affinity groups. Marketing,
especially to these segments, through tried and tested channels, but also through the increasing influence
of social media could pay dividends.
While traditional destinations such as Italy, Greece and France continue to rule the charts, there could be
an opportunity in the less explored destinations of Finland, Sweden and Czechia. Advisors have shared
that as repeat clients return to Europe, they are more open to exploring newer destinations and more
clients are opting for multiple-country trips. With Europe enjoying a good rail and road network, a multi-
country trip could be sold as both a convenience and easy bucket-list check.