SETE Says Consumer Confidence Index Can Aid in Boosting Tourism

In efforts to identify the desire to travel of each market — which is directly linked with financial security — the Greek Tourism Confederation (SETE) announced the addition of a consumer confidence index to its monthly report.

SETE Intelligence, SETE’s research institute, said the indicator will help identify key markets as well as travel trends and demands. Based on the consumer confidence index, strong demand can be expected from the Czech Republic, Finland, Hungary, Netherlands, Poland, Slovakia and the US, and to a lesser extent from Austria, Belgium, France, Germany, Sweden. Denmark, Greece, Italy, Turkey and the UK appear to be on the low end.

Indicatively, in January, Slovakia demonstrated the highest consumer confidence with the relevant index (CCI) at 102.8.

Meanwhile, consumer confidence was down in Turkey (96) and Greece (96.8), reporting the lowest scores according to the Organisation for Economic Co-operation and Development (OECD) analysis – both being the only countries with a score below 100. Higher values indicate increased levels of consumer confidence and higher demand for holidays, and vice versa. Turkey recorded the greatest decline in January by 2.3 percent with a CCI of 96, while Greece was down by 0.3 percent.