FX Excursions

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Paris Attacks Affecting Tourism

Jan 25, 2016

© Iakov Kalinin

Daily

A recent analysis by The Wall Street Journal shows the November attacks in Paris cut into the country’s tourism numbers — as well as those of Europe as a whole.

Airline tickets to Paris and other parts of Europe are being canceled in droves, and hotel prices are plummeting. Overall, travel to Europe and within Europe is down. Air France is reporting losses of $55 million in revenue from November cancellations.

Bookings for Christmas in Paris were down 13 percent, the article says. And that’s all despite the fact a strong American dollar versus the Euro has led to more trans-Atlantic travel overall this year. According to figures quoted in the article, “Expedia saw the number of Paris bookings jump 30 percent to 35 percent in 2015. But bookings declined 40 percent to 45 percent after the November attacks.”

Paris’s tourism numbers are recovering slightly and that’s expected to continue. Still, that could take an average of 13 months, according to research by The World Travel and Tourism Council. The WTTC says they expect tourism to Paris to make a full recovery.

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