Read the text below:
Europe’s tourism will most probably have to navigate the travel disruptions experienced last summer in terms of short-staffed airports and accommodation establishments, and soaring travel costs. Nevertheless, the EU has also demonstrated some economic resilience so far in 2023 with lower energy prices, encouraging employment rates, and gradually receding inflation1. However, risks to the tourism outlook remain and are notably stemming from stubbornly high core inflation and uncertainty around the impact of Russia’s war in Ukraine. One in four reporting destinations surpassed pre-pandemic levels of foreign tourist arrivals, including value for money destinations such as Serbia (+27%), Bulgaria (+21%), Montenegro (+12%) and Türkiye (+9%)
Source (adapted): https://etc-corporate.org/reports/europeantourism-2023-trends-prospects-q2-2023/
Considering the information provided in the text, what factors contributed to the economic resilience of the European Union in 2023?
Europe’s tourism will most probably have to navigate the travel disruptions experienced last summer in terms of short-staffed airports and accommodation establishments, and soaring travel costs. Nevertheless, the EU has also demonstrated some economic resilience so far in 2023 with lower energy prices, encouraging employment rates, and gradually receding inflation1. However, risks to the tourism outlook remain and are notably stemming from stubbornly high core inflation and uncertainty around the impact of Russia’s war in Ukraine. One in four reporting destinations surpassed pre-pandemic levels of foreign tourist arrivals, including value for money destinations such as Serbia (+27%), Bulgaria (+21%), Montenegro (+12%) and Türkiye (+9%)
Source (adapted): https://etc-corporate.org/reports/europeantourism-2023-trends-prospects-q2-2023/
Considering the information provided in the text, what factors contributed to the economic resilience of the European Union in 2023?
