贝恩：欧洲高端旅游报告（EN）

ncountriesandakeygeneratorofithvirtuouseffectsinitshighendsegmentexcellenceexpressedbyallEuropeancountries–Europeattracts51%oftheglobalinternationalarrivals–Itsdirecteconomicimpactin2019was€600-700B,andreached€1T+(includingindirect)–Upto12Mofdirectjobs,22MincludingindirectWithinit,high-endtourismisacriticalsourceofvalue,economicandnon-economic,withspilloverontheothersegmentsand–Highvalue:high-endtourisminEuropeisworth€130-170B–Virtuousvaluegenerationacrossthevaluechain:o2%ofthehospitalitystructures,contributingto22%ofthespendinginaccommodations,33%ofthespendingculture,entertainmentandshopping,and22%ofoveralltourismspendingo8xspendingperdaybyhigh-endtourismvs.overalltourists'averageoVirtuousemploymentimpact:nearly2xemployeesatparityofcompanysize(vs.non-high-end)–Insomeofthelargestcountrieshigh-endtourismisworth€20-30B;inseveralsmallercountries,high-endtourismisapillaroftheeconomy,withaGDPincidencealmost2xthatofoverallofEuropeetosupportfromseverechallenges–MajordisruptionbyCovid19:>€70Boflosslinkedjusttohigh-endinternationaltravelers–OtherdestinationsoutsideofEuroperaisingthegametoattractmostvaluabletravelersStrongfundamentalscansustainalongtermbrightpotential–Theunderlyingdynamicoftheglobaldemandhasthepotentialtogrowthesegmentby2-3times,uptoadirectvalueof€520BofinternationalarrivalsinEuropeinofinternationalarrivalsinEuropeinthetop5countriesgionintheworldofglobalinternationalarrivalsGlobalinternationalarrivalsbydestination(M|2019)Note:(1)WhenspeakingaboutEurope,werefertotheEuropeanUnioncountries+UK&Switzerland;(2)Directeconomicimpact:stayandconsumption(i.e.transport,dining,culture,entertainmentandshopping)Source:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsOverallEuropeantourismgenerated25Bin2019,withthe5largestiesoffocuscontributingforOveralltourismeconomicimpact1inEurope2(€B|2019)Note:(1)Directeconomicimpact:stayandconsumption(i.e.transport,dining,culture,entertainmentandshopping);(2)WhenspeakingaboutEurope,werefertotheEuropeanUnioncountries+UK&SwitzerlandSource:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsrismcontributeddirectlytoofGDPandMjobsinnsideringindirectimpactEuropean1tourismkeyfigures:overalltourism(€B|2019)directjobsofGDPincludingindirectincludingindirectallercountriesegortugaltourismbutesalmostofGDPinNote:(1)WhenspeakingaboutEurope,werefertotheEuropeanUnioncountries+UK&Switzerland;|Source:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsblesegmentinEuroperepresentingofoveralltourismandworth€130-170BTourismindustry1inEurope2bysegmentandbycountry(€B|2019)Note:(1)Directeconomicimpact:stayandconsumption(i.e.transport,dining,culture,entertainmentandshopping);(2)WhenspeakingaboutEurope,werefertotheEuropeanUnioncountries+UK&SwitzerlandSource:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsuropeandestinationsSizeableinabsoluteterms,inthelargestcountriesSubstantialpillaroftheeconomyinsomesmallercountriesEmergingopportunitiesacrossnewdestinationsinEuropeofdirecteconomiccontributionineachofthelargestcountries1DPinsmallereconomieswithavocationforhigh-endtourism2Curiosandresponsible,interestedinnewdestinationsinEuropeNotes:(1)SpecificallyItaly,Spain,France,UK;(2)forexampleGreeceSource:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsssRelaxtimeantcitiesessRelaxtimeantcitiesereeceandPortugaltotheiroveralltourismcomparedtothelargestmcountriesinEuropeIn“RestofEurope”emergingcountriesenteringthe“wishlist”withvaluepropositionalignedforhigh-end~%hotel5starsontotalforselectedcountriesEXAMPLESOFVALUEPROPOSITIONyGreece3,0%France6-7%Portugal4,0%SpainandvisitEuropeforavarietyofreasonsandactivitiesMostdesiredexperiencetypesinEuropebyhigh-endtravellers(%|2021)GlobalaverageEuropeperformingbetterthanGlobalaverageEuropeperforminglowerthanGlobalaverageNote:Experiencesaredefinedasthedifferenttypesofactivitiesthetouristmightpracticewithinadestination,suchasfood&restaurants,adayinthenature,museums,shopping,wellnessandmanyothers.Thesumdoesnotaddupto100%sinceeveryexperiencecouldbecountedinmorethanonecategory|Source:BainelaborationsonVirtuosoWanderlistDataentandshoppingmakingthemostoftheexpenditureforrismfollowedbystayEuropean1tourismkeyfigures:high-endtourism(€B|2019)ofdirectGDPcontribution,correspondingtoonefourthofoveralltourismcontributiontoGDPvsforoveralltourismNote:(1)WhenspeakingaboutEurope,werefertotheEuropeanUnioncountries+UK&Switzerland;(2)Directeconomicimpact:stayandconsumption(i.e.transport,dining,culture,entertainmentandshopping)Source:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsaluegenerationacrossthevaluechainctonemploymentandspendingHigh-endtourism1inEurope2(%|2019)Multiplyingeffectonjobs&spending(x|2019)hendhospitalityverageofallesngendtouristslltouristsaverageNote:(1)High-endtourismisidentifiedbasedontravelers’accommodationchoices:5-starsorhigherhotelsorequivalentaccomodations(e.g.,non-hotelfacilitiesandluxuryvillas);(2)WhenspeakingaboutEurope,werefertotheEuropeanUnioncountries+UK&Switzerland|Source:Bainelaborationsonnationalstatisticsdata,BainAltagammaLuxuryStudy,Euromonitor,UNWTO,Eurostat,ExpertinterviewsntopofeconomicimpactoneilloversTourismaxesofvaluecreation“Soft”spillovers“Hard”spilloversDirecteconomicimpactttothesoftpowerimageopeandionalpublicslslsndntectHaloeffectonoveralltourismdemandPublicgoodFood&beverageendingendingntertainmentnstructionagrofoodAccommodationTransportdntsfornaturalAccommodationTransportSourceBainanalysissandattractorsareneededtoreapthebenefitsof“hard”and“soft”spilloversNOTEXHAUSTIVETransportsservicesandinfrastructures(ingeneral,high-end)Sitesandinfrastructures(ingeneral,high-end)Sitesofinterest(natural,cultural,...)MuseumandgalleriesFootprintofhigh-endhospitalityFootprintofhigh-endhospitalitystructures(hotels,villas,…)AgendaofculturalandsocialeventsNetworkofhigh-endstoreshigh-endbrands(acrosssectors)Highsafetylevel(politicalstability,low(politicalstability,lowcrimerates…)Tax-freepoliciesVisapoliciesandorganizationsSourceBainanalysisverybinclassrplanessengersindexedlevelWhenconsideringonlymissedinternationalflights,lossinhigh-endtourismsurpasses~>€70B……butthesegmentispromptlyrecoveringwithhigh-endairlinepassengersrecoveringfasteracrosskeyEuropeancountriesNote:(1)Consideringvisitorsstayingatleastonenightatdestinationandexcludingtransfersandone-waytrips|Source:ForwardKeys,BainAnalysisodifyingoramplifyingulesofthegametoattractthemostvaluabletravellersTheUSofferawiderangeofactivitiesandattractions,allowingtosatisfydifferentexpectationsandneedsofvisitors.Thedomesticshareoftravelersisextremelyrelevant,whiletheinternationalshareincreaseswhendealingwithluxurytourismHainanismeanttobecomeagloballyrelevantfreetradeport,comparabletoDubaiandSingapore,andaluxuryduty-freeshoppingdestination.Thereaspecificplansupportedbythegovernmenttoeasetheaccessbyinternationalvisitorsandfosterahigh-levelluxuryofferingJapanhasanaturalandculturallandscapedistributedthroughouttheterritoryandinvestsinnewholidaymodelstopromotetheuseoftheterritory(e.g.cruisetrains)Balicombinesthebeautyoftheterritory,wellnessandentertainment,byinvestingininnovationofhotelandserviceconcepts,raisingthebarforthestandardofexcellenceandofferingavarietyofactivitiesthatfavorreturnsandseasonaladjustmentsAustraliaoffersasetofluxuryexperiencesbasedonitsgeographicalspecificities,suchaswildlifeandnaturallandscapes.NationalinstitutionsarelaunchingtheSignatureExperienceofAustraliatoattractmorehighvaluetouristsNewZealand’luxurytourismischaracterizedbyexplorationandadventurelityschoolsthemanagementtransportationdedicatedservicesandlongtermincentivessmindustriestosuccessndfacilitiesatthehigheststandardsofstructureluxuryinnovationegBaliHainantalprivateandcompaniesforthemanagementofthesmandtofurtherattractaffluentvisitorsbyrespectingthecharacteristicsoftheareaHainanAustraliabyrestraininglocaltravelersthroughadiversifiedofferingandpromotionoftionsegUSAJapantandinternationalappealwithinthevaluepropositionegUSABalitiontomaximizeseasonextensionandattracttouristsfromdifferentasonsegUSABalioughstructuresmarinasairportstraincruisesegHainanJapanimplifiedvisapoliciesforChinesetravelersresultinginanaccelerationofAustraliaonsitesuchasexclusivediscountsandtaxfreequotasegHainanMoreresilienttocrises/outbreaks(asshownandshowingfastergrowthGeneratingrelevantandvirtuousspilloverionalthanoverallasevidentMoreresilienttocrises/outbreaks(asshownandshowingfastergrowthGeneratingrelevantandvirtuousspilloverionalthanoverallasevidentfromthemultipliersCreatingahalo/drivingeffectonbroaderdemandacrosssegmentsDrivenbywealthyindividuals,arobust,high-atisexpectedtofutureinthenextngistsuethroughValue1ofhigh-endtourismin2019andfullpotentialscenarios(€B|2019–2030-35F)High-endtourismstrongfundamentalsexplainwhyEuropeshouldpushitfurtherSScenarioassumption2xmarketsharehighendtourismtoitsfullpotentialNote:(1)Directeconomicimpact:stayan