Hungary Tourism Report - Business Monitor International - Industry Reports

Hungary Tourism Report

Hungary Tourism Report - Business Monitor International - Industry Reports
Hungary Tourism Report
Published Aug 06, 2016
30 pages — Published Aug 06, 2016
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Abstract:

� Business Monitor International Ltd Page -- number of airport extensions and improvements are planned for the coming years (Budapest airport will be extended and an airport hotel added, while Lake Balaton s airport will be renovated). Consequently, we expect that tourism arrivals will increase by -.- annually between ---- and ----, bringing the number of tourists coming to visit to an estimated --.-mn by the end of the forecast period. ...In ----, just over --.-mn Europeans are expected, representing more than -- of the total arrivals for the year. This is not surprising, as Hungary s transport systems (roads, flight routes and railways) connect the country to its European neighbours, making it easy for European tourists to come for either short or long breaks, whether last minute or planned. Hungarian low-cost air line Wizzair also significantly contributes to this trend, offering flight routes to most major European cities. In the coming year, it plans to open more routes, including to Liverpool, Iceland and Ibiza. We therefore expect this trend to be maintained, with --.-mn arrivals from Europe in ---- and more than --.-mn by ---- following annual average growth of -.- over the remainder of the forecast period.

...Hungary is set to continue experiencing healthy arrivals growth in ----, with Budapest remaining one of the top tourist destinations in the region, according to a wide range of tourism websites and travel guides. Despite fears that the migrant crisis might reduce the number of people wishing to visit the country (either because of security fears, or as a reaction to Hungary s controversial response to refugee flows), Hungary recorded extremely high arrivals growth in ----. ...For the remainder of the forecast period, this healthy growth appears set to be maintained. Arrivals from Russia, which used to be among the main source markets, may have decreased in the past years due to the crisis in Ukraine, but this market has been steadily replaced by increasing arrivals from other European countries and a surge of interest by tourists from the US. With tourism an important source for the country s economy (around - of GDP in ----), the Hungarian government has been focusing efforts on continuing to develop and market tourist attractions (in particular outside of Budapest, with its parks and lakes), and a ...Arrivals from Russia, which used to be among the main source markets, may have decreased in the past years due to the crisis in Ukraine, but this market has been steadily replaced by increasing arrivals from other European countries and a surge of interest by tourists from the US. With tourism an important source for the country s economy (around - of GDP in ----), the Hungarian government has been focusing efforts on continuing to develop and market tourist attractions (in particular outside of Budapest, with its parks and lakes), and a

...Hungary s tourism market is well developed, though relatively small relative to the largest tourism destinations in Western Europe (France, Spain, Italy and Germany). The country is home to a number of popular tourism attractions and is clearly taking steps towards developing new source markets, as tourists from certain Asia Pacific countries (China in particular) have increasing amounts of disposable income and are known to spend significantly when on holiday. ...

  
Source:
Document ID
1747-891X
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Hungary Tourism Report" Aug 06, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hungary-Tourism-Report-2026-335>
  
APA:
Business Monitor International - Industry Reports. (2016). Hungary Tourism Report Aug 06, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hungary-Tourism-Report-2026-335>
  
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