More and more European companies, mostly small to medium-sized enterprises (SMEs), are discovering finance and accounting outsourcing (FAO) as a cost-effective way to improve their business. The trends on the market are automation, real-time services and the demand for added value partners.
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The European retail sector increasingly relies on technology. According to research by McKinsey, about 52% of the work in retail can be automated with current technology. This means that there is great potential for retail tech in general. The COVID-19 pandemic only accelerated this trend, making most European retailers interested in adopting at least one type of retail tech solution.
The European market for finance and accounting services is large, stable and growing. The biggest challenges for you as an outsourcing company are increasing automation and extra requirements in terms of security and corporate sustainability. However, there are good opportunities if you know how to use technological inventions and/or can offer added value through your services.
Table olive demand is strong in Europe. Consumption is rising thanks to the popular Mediterranean diet, healthy eating trend and olives’ versatility in European cuisine. Opportunities for developing country suppliers can be found in the largest European markets: Italy, France, Germany, the United Kingdom, Romania and Belgium. New suppliers have to be aware of the strong competition from Spain and Greece. The other main important rivals are Morocco, Türkiye and Egypt.
Citrus and tropical juices are popular beverages. They are also increasingly being used as ingredients in soft drinks, flavoured waters and smoothies. Large citrus juice manufacturers are looking at sustainable production as a way to make their operations more environmentally friendly. Europe’s largest consumer markets offer opportunities for developing-country suppliers. The leading competitors are Brazil (orange), Argentina (lemon), Israel (grapefruit), Mexico (lime), Costa Rica and Thailand (pineapple), India (mango purée) and Peru (passion fruit).
Europe is the world’s largest importer of desiccated coconut. Desiccated coconut is a popular bakery and confectionery ingredient in Europe. The demand for desiccated coconut is driven by the growing popularity of Asian cuisine, a rising consumer interest in plant-based, gluten-free and keto diets, and the wide use of coconut in food products. Overall, the import of desiccated coconut to Europe has decreased slightly in recent years.
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Coconut is a popular flavour in sweet treats like chocolate bars, pastries and biscuits. This is why there is demand for desiccated coconut in Europe. Two aspects that have led to unstable supplies are older coconut trees and low farmer incomes. This has caused many supply chain stakeholders to focus on sustainability and take part in sector support projects. There are opportunities in large markets, such as the Netherlands, Germany and the United Kingdom. Established suppliers from the Philippines, Indonesia and Sri Lanka dominate the market.
The MICE market is very complex and there are many interlinked services provided by a wide range of suppliers. The MICE customer has high expectations for high-quality services and personalised customer service. To work with the European market, MICE suppliers must be knowledgeable, professional and prepared. The increase in demand for bleisure experiences (defined as leisure mixed with business) offers local tour operators significant opportunities to develop suitable products for the market.
Over the years, Going Places Tours & Travel Zambia has also included business travel in its strategic plan. Although we are primarily leisure ground handlers in Zambia, we also focus on international, regional and national corporate incentive groups. The successful business we have generated has been due to consistent marketing efforts in the European and regional markets, and includes medical professionals, NGOs such as Rotary International, and local companies.
There are many elements involved in MICE tourism but the key to successful execution is communication and planning, which includes organising the ground elements of the conferences, airport transfers, accommodation, and even adding a short holiday break before delegates depart for their respective homes!
Rachel Ward, Going Places Tours & Travel Zambia
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Food tourism is diverse and includes many specialist niches such as food festivals, food museums, cooking classes, wine trails and producer visits. European food travellers value locally produced and authentic food and are eager for new culinary experiences. Italy, Germany and Austria offer great opportunities if you provide sustainable food tourism and know how to combine the food, its history and its entwinement with your culture in a story and sell it via social media.
Food and drink – culinary culture – should be the foundation of every visitor experience, since all visitors eat and drink, but not all visitors go shopping, play sports or go to museums. Food-loving travellers seek unique and memorable products and experiences, not restaurant lists. And destination marketers and governments have a huge opportunity to turn both visitors and local residents into ambassadors of their areas by developing and promoting the special aspects of their area’s culinary culture.
Erik Wolf, director of World Foodtravel Association
No matter where you are in the world, your culinary tourism strategy needs to be rooted in your unique selling points: the local dishes, producers and culinary experiences unique to your region. The farmers, the fishers, the foragers and the artisans who are crafting your food – those are your rock stars. Talk to them, celebrate what they are doing and help them share their stories through workshops, tours, tastings, et cetera. Culinary travelers want a truly authentic experience. If you build a tourist-first strategy, you’ll never get full buy-in and adoption. Focus on the locals, and the tourists will come.
Eric Pateman, Global Culinary Tourism Strategist, Chef & Consultant at ESP Culinary Consulting
26 October 2021
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The European sweet potato market has not yet reached its full potential. Growing import together with local production initiatives are fostering mainstream consumption and product development. Consumption is most developed in the UK. The Netherlands positions itself as a trade hub for northern European growth markets such as Germany and France.
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