According to GoEuro.com, a Berlin-based firm which assesses the European travel industry covering 150 cities, including over 60,000 hotels and other accommodation, New York remains the most expensive destination for Europeans. Tirana in Albania remains the cheapest.

St Moritz ranks second in the listings, which take into consideration rail and bus travel, but also facilities aimed at younger travellers, such as youth hostels. Zurich comes in at 13^th, Geneva 19^th, Bern 24^th and Lausanne 26^th. In comparison, cities such as Macao rank 3^rd, Miami 4^th, Nassau 5^th. Boston 6^th, Venice 7^th and Monte Carlo 10^th. All prices were calculated over the same date range for the same number of guests.

GoEuro notes a growing trend in the form of inexpensive accommodation for travellers, such as “sharing economy” approaches. This includes Airbnb, an online service enabling private hosts to offer rooms and apartments for holiday rent, but also facilities aimed specifically at generation Y, or young people, all of which are radically changing the hotel industry.

GoEuro points out that European travel market currently represents 200 billion Euros a year, based on the European Travel Commission. This includes over 19 million ground transport passengers daily, notably by bus and rail, and representing a market twice as large as travel by air. European rail travel alone, which is currently assessed at eight billion passenger journeys a year, is expected to increase radically over the next few years as European Union deregulation kicks in by 2019, and high-speed rail travel opens up more, particularly to Russia and other eastern countries.