European wine: market dynamics, influence on global trade and effects on tourism development
DOI:
https://doi.org/10.29352/mill0219e.41013Keywords:
wine market; wine exports; wine tourism; travel & tourism development; European UnionAbstract
Introduction: Europe is the world's largest producer and exporter of wine, and in recent decades, both have increased in volume and value, driven mainly by the liberalization of international trade. The increasing value of wine exports suggests that higher-quality wines are being produced, which in turn helps attract wine tourists. Wine tourism plays a crucial role in enhancing the visibility and reputation of a wine region while also promoting economic development.
Objective: The primary objective of this study is to investigate how the dynamics of wine production and exports in EU8 countries influence tourism development, particularly in rural regions.
Methods: A quantitative approach was employed, based on time series analysis, to distinguish conjunctures and trends in wine exports. Parallelly, databases on travel and tourism activities were analyzed to identify patterns and the economic relevance of these activities, as well as possible relationships with the wine industry.
Results: Results suggest that a correlation may exist between wine production, exports, and tourism development in these countries, as the leading wine-producing countries are also those with higher international tourist arrivals and international tourism receipts. Similarly, the top five wine-producing and exporting countries are among the top 10 in the Travel & Tourism Development Index 2024.
Conclusion: The integration of wine and tourism industries can be an effective strategy to increase the attractiveness and competitiveness of a region, both for tourists and wine export markets.
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