Just Published: "Hungary Tourism Report Q1 2015"
New Consumer Goods market report from Business Monitor International: "Hungary Tourism Report Q1 2015"
[UKPRwire, Wed Jan 07 2015] The future of Hungary's tourism industry is intertwined with the economic prosperity of Europe. European travellers make up 87% of total inbound arrivals to Hungary, and the economic performance of Romania, Germany and Austria in particular will have a large impact on how the sector performs in the coming years.
We predict there will be a steady growth for the upcoming 5 years, driven by solid economic growth and an increasing proliferation of low budget airlines which will influence travellers from countries such as the UK. However, the government must continue to keep itself open to foreign travel, and must work to encourage it by investing in infrastructure and provide a secure base for inward foreign investment. For investors, there has not been as much concentration from the large hotel chains (with Accor looking to sell 46 hotels in the region, and Intercontinental Hotel Group also selling a hotel in Budapest to UAE-based Al Habtoor Group), with larger markets being prioritised. As such, the stable hotel base and positive, steady growth anticipated could offer a good return for a company willing to invest in the region.
Full Report Details at
Budapest dominates the country both economically and in terms of tourism, but there is a great deal more to the country, with tourists able to visit thermal baths, beautiful lakes and other attractive cities such as Debrecen. The country has a great deal to offer, but the government needs to take the initiative to spread awareness of the rest of the country outside of Budapest, as well as investment in transport infrastructure (such as the modernisation of the rail network around Lake Balaton, a project started in 2013). There has also been concern recently about Hungary become more "illiberal", with comments made by the Prime Minister and a mooted "internet tax" creating protests and sparking worries that could affect investment into the country. However, these concerns seem to have been dissuaded for now (with the...
The Hungary 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 Hungary Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Hungarian tourism industry.
* Benchmark BMI's independent tourism industry forecasts for Hungary to test other views - a key input for successful budgetary and planning in the Hungarian tourism market.
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