Almost 690 million tourists made international trips in the first half of 2025, which is almost 5% or 33 million more than a year ago, according to the UN World Tourism Organization (UN Tourism).
“The number of international tourist trips in the first six months of 2025 increased by 5% compared to the same period in 2024 and amounted to almost 690 million. This is approximately 4% more than in the same period before the pandemic,” the report says.
According to UN Tourism, the highest growth rates in tourist trips in the first half of the year were recorded in Africa, up 12% compared to the same period last year. In North Africa and sub-Saharan Africa, the increase was 14% and 11%, respectively.
Europe received about 340 million tourists in six months, which is 4% more than in the same period last year and 7% more than in pre-pandemic 2019. The main destinations for travel in Europe, France and Spain, increased by 5%. In Central and Eastern Europe, the growth rate is even higher, at 9% compared to the first half of 2024, while inbound tourist flows are 11% lower than before the pandemic.
The number of tourists in North and South America increased by 3%, while the results for individual regions were uneven. South American countries recorded a 14% increase in tourist arrivals, Central America recorded a 2% increase, while North America saw no growth due to a decline in tourist trips to the US and Canada. The Caribbean region also saw a decline, partly due to lower demand from its main tourist market, the US.
In the Middle East, the number of tourist trips fell by 4% in the first half of the year, while compared to 2019, the increase was 29%. As noted by UN Tourism, these are the highest growth rates among all macro-regions.
The number of arrivals in the Asia-Pacific region during this period increased by 11%, which is 92% of the pre-pandemic level. Northeast Asia showed the highest figures among the world’s subregions: in the first half of the year, tourist traffic here grew by 20% compared to the same period last year.
According to UN Tourism, among the major tourist destinations, the largest increase in tourist trips was recorded in Japan and Vietnam (up 21%), Morocco (up 19%), South Korea (up 15%), Malaysia and Indonesia (up 9%), as well as Hong Kong, Mexico, and the Netherlands (up 7%).
Vietnam has significantly expanded its visa-free regime, adding 12 European countries to the list of countries whose citizens can stay in the country for up to 45 days without a visa. This is valid from August 15, 2025, to August 14, 2028, and covers EU countries such as Belgium, Poland, the Czech Republic, and others that have joined the existing list, which includes France, Japan, the UK, and others.
This has signaled a revival in the resort real estate market: tourists with long visa-free periods and high incomes have become actively interested in buying villas, apartments, and condo hotels, especially in tourist areas. The Vietnam Association of Real Estate Agents (VARS) notes an increase in demand and a steady recovery in the sector.
The foreign population in the country is small but diverse:
Real estate purchase prices (per square meter):
Rental prices (per month):
Consulting firm Deloitte has published the 14th edition of its Property Index 2025 report on European housing markets. The study covers 28 countries and notes how markets are adapting to high rates amid weak supply: affordability in a number of capitals remains at multi-year lows, and demand is shifting to rentals. Deloitte
The least affordable capitals are Amsterdam (15.4 annual salaries for a “typical” 70 m² apartment), Athens (15.3), and Prague (15.0); Košice ranks fourth (14.2). At the opposite end of the spectrum are Odense (Denmark) and Turin (Italy), where the average purchase price is 4.9 times the annual income, as well as Manchester (UK) — 5.3.
Ukraine was not included in this study.
Deloitte notes that against the backdrop of a “bottleneck” with new projects and continuing demand, the rental segment is strengthening (rent increases are noticeable not only in capital cities but also in regional centers). At the same time, high rents and regulatory lags in permits continue to put pressure on property affordability, especially in large agglomerations.
Deloitte Property Index 2025 — a comparative study of European housing markets: prices for new buildings, affordability (in years of gross salary for a 70 m² apartment), rental dynamics, and mortgage rates. Key findings and figures are available on the Deloitte Property Index 2025 report page.
Discussions on the Ukrainian settlement between a number of European leaders are scheduled for Thursday in France, the Financial Times (FT) reported on Sunday.
“Those who previously met with (US President Donald) Trump in Washington are expected to gather in Paris on Thursday at the invitation of French President Emmanuel Macron to continue high-level discussions,” the publication writes, citing diplomatic sources.
“Among those present will be German Chancellor Friedrich Merz, British Prime Minister Keir Starmer, NATO Secretary General Mark Rutte, and European Commission President Ursula von der Leyen,” the FT notes.
No official announcement has been made about this meeting yet. The meeting is expected to be a continuation of discussions on security guarantees that the US and EU countries could provide to Ukraine after the war ends. These include the deployment of several tens of thousands of European troops in the country, according to the article.
In turn, in an interview with the FT, von der Leyen said that Europe is working on a plan to “deploy multinational forces with American support.”
“President Trump has assured us that American support will be part of the guarantees. He has repeatedly and clearly confirmed this,” she said.
Last week, trading in August 2025, September 2025 and subsequent months continued. In total, 4 companies formed positions for the purchase and sale of natural gas: LTC Electrum, GTS Operator of Ukraine, D.Trading, and Ukrzaliznytsia.
The starting prices of resources in the mid- and long-term market section varied widely. As a result, as of Friday, the average starting price of September resources in the GTS was 3.33% higher than on Monday. Last week, only buy positions were sold. In total, 20,700.00 thousand cubic meters of natural gas were sold, 17700 of which were purchased by the GTS Operator of Ukraine. Last week’s bidders formed the following quotation prices:
In the sections “Cross-border, customs warehouse” and “Imported natural gas”, the initiators formed starting positions, but no selling prices were formed in these sections last week.
On the short-term natural gas market of the UEEX , participants placed bids on the intraday market. The deals were concluded for delivery to the Ukrainian gas transmission system. The weighted average price of the DAM on Friday, August 15, amounted to UAH 20200 excluding VAT.
European market
Gas prices declined last week. TTF futures dropped to around 32 euros/MWh. Gas stocks continue to grow, and geopolitical risks did not create a new shock in the short term. Steady gas supplies from Norway and high LNG imports offset some of the problems.
At the same time, the energy landscape was shaken by several strategic moves: Centrica and ECP (Energy Capital Partners) bought the Isle of Grain LNG terminal, Europe’s largest, for about €1.5 billion, sending a clear signal to the market about long-term dependence on imported gas, even as demand for its use in the power sector fell. In addition, Centrica has signed an agreement with the US-based Devon Energy to supply the equivalent of five LNG cargoes annually for a decade, another foundation that lays the groundwork for Europe’s energy security.
Month-ahead contracts at all analyzed hubs showed a different trend relative to spot prices, with an average increase of 1.64%. Quarter-ahead prices were higher than spot prices by an average of 4.68%. The season-ahead prices with an average value of 35.50 EUR/MWh tended to increase compared to the spot prices by an average of 5.77%.
September futures for LNG in Asia, the JKM Platts Future index, settled on August 14 at $426.38 per thousand cubic meters. US dollars per thousand cubic meters. The futures for LNG delivered to Northwest Europe (LNG North West Europe Marker) closed at $393.80 per mcm. US $/thousand cubic meters.
European LNG terminals operated on August 13 with an average capacity of 79.81%.
LNG stocks in the EU as of August 13, 2025 amounted to 4.336 million cubic meters, according to the Aggregated LNG Storage Inventors.
The storage level of the largest LNG exporter, the United States, according to the latest EIA data as of August 8, 2025, was 3.186 billion cubic feet, which is 6.6% higher than the average for the last five years.
This week, oil prices have declined – for example, Brent is trading in the range of $66-67 per barrel. OPEC+ has announced a significant increase in production (over 500 thousand barrels per day since September), and the imbalance between supply and demand is beginning to be smoothed out as the peak supply season gradually ends.
The meeting between Trump and Putin in Alaska is putting the market on edge. If sanctions against Russia are eased, prices could move downward, even to below $60 per barrel. On the other hand, if the opposite is true, the confrontation will escalate, and prices could jump up, approaching or even surpassing $80-90 per barrel.
Gas balance in Ukraine
During the week, natural gas imports from Europe averaged 21 million cubic meters per day (1 million cubic meters higher than the previous week), from Hungary, Poland, Moldova, and Slovakia. The Hungarian direction was mainly used, although the share of other directions remained high. Ukraine’s storage facilities held about 10.4 bcm. There was virtually no withdrawal. Injection amounted to about 51 million cubic meters per day.
Interesting things for the week
For the first time, a €500 million loan for gas imports to Ukraine is provided under the EU’s UIF Hi-Bar program , which does not require a Ukrainian state guarantee, Gas United reports. The UIF – Ukraine Investment Framework – is the investment component of the Ukraine Facility program for the rehabilitation of energy infrastructure. The financing was launched at the URC-2024 in Berlin. The EBRD provided the funds for gas imports under the Hi-Bar facility, which aims to remove barriers to mobilizing the financing needed to accelerate the transition of the energy sector to net-zero, which involves the maximum possible reduction in greenhouse gas emissions.
Romania is the most accessible country in Europe for digital nomads, according to a study by Omio. The index looked at the cost of living, rent, visa requirements, and internet access, with interest in remote work across borders growing fast.
Romania ranked first among European countries in terms of accessibility for digital nomads. Its assets include the lowest cost of living (index 37) and favorable rental conditions (index 7), which are significantly lower than in the US (72).
However, to obtain a digital visa in Romania, you need to prove that you have a monthly income of at least £3,700 (~$5,000), which is a high threshold for many freelancers.
In second place is Albania, which has the same low cost of living and rent but a more lenient income threshold (€1,000), although it lags behind Romania in terms of safety and internet speed.
Georgia is one of the leaders in terms of low living and rental costs, but its mandatory income requirement for a visa — around £2,000 — is higher than in Albania.
Hungary also ranks highly in the regional rankings thanks to its fast internet speeds and moderate income requirements for a visa.
Omio’s research confirms Eastern Europe’s status as the most accessible region for digital nomads. Romania leads the way thanks to its favorable combination of cost of living and infrastructure quality. However, visa requirements — particularly the relatively high level of provable income — remain a barrier for effective freelancers with unstable incomes.
