According to the European Travel Commission, 2024 is set to become the year when international travel in Europe exceeds pre-pandemic levels – already in Q1, international tourist arrivals and overnight stays increased by 6-8% compared to 2019. In this article, however, we’ll be focusing not so much on the rebound of the European travel sector in general, but specifically on the global potential of Eastern Europe as a source market for tourism – and its implications for airlines struggling with capacity to meet the growing demand for air travel. To help us with this task, we spoke to Martin Stulajter, CEO of AirExplore, Slovakia’s largest airline, which is part of Avia Solutions Group, the world’s largest ACMI (Aircraft, Crew, Maintenance, and Insurance) provider.
Growing purchasing power and travel spending
Research conducted by McKinsey suggests that Eastern European travel spending will grow at 7% annually until 2030, which is 2% more than in the case of Western Europe. The fastest growth is expected to take place in the Czech Republic, Hungary, and Poland, especially among middle-class travelers. For instance, the spending potential of the Czechs this year is €14,824, getting closer and closer to the European average every year.
“This process is also reflected in the figures of outbound travel spending for Eastern Europe. While in 2023, residents of that region had spent $148 billion on tourist activities, by 2030 this figure is projected to hit $228 billion, which translates into roughly 7% growth per year,” Mr. Stulajter explained.
A new report published earlier this year by Accor has also found that people in Poland were the most confident of all in Europe about their travel spending this year. As many as 64% said they’re expecting an increased budget, as compared to merely 7% who have reported the opposite.
Moreover, according to IATA, CEE showed the largest growth in air travel passengers in Europe, with Albania, Armenia, and Serbia taking the lead. This was mostly due to the booming tourist sector, made possible by low-cost carriers. The most impressive result has been achieved by Albania, which more than doubled its market size since 2019.
More frequent travel, wider range of destinations
In 2023, the European Travel Commission noted that Europeans are expanding their range of destinations, such as Türkiye, Montenegro, Albania, and Croatia, which were less popular before the pandemic. For the moment, the biggest hotspots remain clustered around Southern Europe, with travelers reporting plans to visit the following countries later this year: Spain (23%), Italy (18%), France (16%), Portugal and Greece (13%).
“It should also be said, however, that more and more Europeans – and Eastern Europeans in particular – are venturing outside their common destinations on the continent. For instance, the report you’ve just mentioned has also shown that 16% of respondents intend to take a trip to North America, with a further 16% planning to spend their holidays in Asia”, said Mr. Stulajter.
Furthermore, Eastern Europeans are keen on exploring the Asia-Pacific region. In 2023, around 9.1 million traveled to Thailand (1.1 million), China (995,200), Indonesia (410,900), India (291,200) and Vietnam (291,100). Smaller numbers also went to various destinations in Central Asia, including Armenia, Kazakhstan, Azerbaijan, Uzbekistan, and Kyrgyzstan.
Opportunity for airlines
Given the growing Eastern European outbound tourism market, and the fact that airlines will be dealing with aircraft shortages in the foreseeable future, AirExplore, being an ACMI company, is ready to lend its fleet to all who struggle with accommodating higher traffic volumes.
“With a fleet of 17 cargo and passenger aircraft to our name, we can provide airlines with the capacity they need to handle the growing influx of tourists from Eastern Europe and globally. Since the summer of 2024 is expected to be the busiest of all time, we want to help our partners make the most of it without overspending,” said Martin Stulajter, CEO of AirExplore.
AirExplore is Slovakia's premier airline, specialising in both passenger and cargo transport. Established with a vision to provide top-tier aviation services, AirExplore operates under the prestigious banner of Avia Solutions Group, leveraging cutting-edge solutions and industry-leading expertise to deliver unparalleled service quality.
