On the back of a positive outlook for the broader Czech economy, outbound travel continues to grow further over the medium term (2015-2019). Meanwhile, inbound travel is likely to show subdued growth over the same period. The sector's mixed outlook is especially concerning when compared with growth forecasts for regional rival markets such as Hungary.
Following a decline of 0.35% in 2014, arrival numbers are forecast to return to growth in 2015 and beyond. However, growth rates remain subdued and we only expect to see an increase of 800,000 arrivals by 2015 compared with 2015. This represents a substantial reduction from previous forecasts and will have a negative impact on the hotel industry, which we expect to expand slightly in USD terms and contract marginally in local currency terms over the 2015-2019 period.
In comparison, other regional markets are set to experience much healthier growth over the same period. In order to grow further, Czech Republic needs to promote tourist destinations other than Prague, which accounts for the lion's share of the country's tourist arrivals and whose hotel sector is reaching saturation. Furthermore, the Czech tourism industry relies heavily on European arrivals, which make up around 95% of total arrivals. This poses risks to investors, as the market remains vulnerable to the economic environment in the eurozone, which remains far from stable. Instead, the Czech Republic should take more advantage of growing markets, such as more affluent countries in the Asia-Pacific region including China.
Full Report Details at
- http://www.fastmr.com/prod/951929_czech_republic_tourism_report_q2_2015.aspx?afid=101
Nevertheless, the Czech Republic continues to benefit from an excellent tourism offering and a central position on the European continent, making it highly accessible to most European countries. This accessibility, as well as an excellent transport infrastructure system, also benefits outbound travel, which we expect to grow strongly over the medium term.
Key BMI Forecasts And Developments
* 2015 total arrivals: 7.48mn.
* ...
The Czech Republic Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI's Czech Republic Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Czech tourism industry.
Key Benefits
* Benchmark BMI's independent tourism industry forecasts for Czech Republic to test other views - a key input for successful budgetary and planning in the Czech tourism market.
* Target business opportunities and risks in the Czech tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Czech Republic.
* Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage
BMI Industry View
This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.
BMI Industry Forecast Scenario
Forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
* Inbound Tourism: Total arrivals (‘000 and growth % y-o-y), arrivals by region (‘000 and growth % y-o-y), arrivals by country (‘000 and growth % y-o-y), top 10 source countries for arrivals.
* Outbound Tourism: Total departures (‘000 and growth % y-o-y), departures by regional destination (‘000 and growth % y-o-y), departures by country (‘000 and growth % y-o-y), top 10 destination countries.
* Travel & Receipts: Methods of travel for arrivals (air, ship, rail) (‘000 and growth % y-o-y), international tourism receipts for transport (USDbn and growth % y-o-y), international tourism receipts for travel items (USDbn and growth % y-o-y).
* Hotels: Hotel industry value (USDbn and growth % y-o-y), number of hotels (‘000 and growth % y-o-y), total overnight stays (‘000 and growth % y-o-y), length of stay, occupancy rate (%), number of total
BMI’s Tourism Risk Reward Index
BMI’s Risk Reward Indices provide investors (tour operators, tourism infrastructure investors, financial institutions) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards.
Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.
Market Overview
This contains a comprehensive overview of the tourism industry in the country, its overall value, the value of its hotels industry, trends in the hotels industry and any new developments. It also contains an evaluation of the top 10 global hotel groups’ presence in the country, which brands are present in which cities, the number of hotels and any planned developments and strategies. The Market Overview also considers the tourism infrastructure developments in the country, in particular transport infrastructure projects such as ports and airports. Tables are also included from our regularly updated Key Projects Database, which contain details of projects, their value, the time frame, their current status, the companies involved and their estimated completion dates.
Competitive Landscape
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
read full article