Vietnam recorded the highest growth of the CIVETS economies in 2016. A simplified visa policy and strong rise in Chinese tourists, the country's largest source market, supported this growth.
Albany, NY -- (SBWIRE) -- 09/15/2017 -- Has tourism increased in Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa (CIVETS)? Are these countries becoming the hub for tourists from all over the world? A new research report named "CIVETS: Emerging tourism giants, Tourism Flows in Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa" added into repository of Market Research hub (MRH), offers in-depth analysis and insight into the key factors influencing the tourism sector in CIVETS.
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The report shows mixed trends in the economies of CIVETS during 2016 with few showing ups and others falling steeply. According to the report, Turkey and Egypt tourism sector declined sharply in 2016 due to security being a huge concern; however, these markets are expected to recover in 2017 as Russia agrees to resume flights to Egypt and works on its relationship with Turkey.
The report provides detailed data involving historical data, forecasts data and tourist spending trends in the markets of Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa. The report begins by offering a snapshot of the market, with detailed analysis and commentary on the key trends and issues in the tourism sector in these countries.
The information provided in this report can help stakeholders understand the nuances and subtle factors impacting the market in these countries. According to the report, Vietnam gained most from inbound tourism among all the CIVETS countries. This was largely influenced by the simple visa policy for foreign tourists. Further, China, the country that accounts for bulk of inbound tourists to Vietnam, contributed to the growth of Vietnam tourism sector in 2016. According to the report, Chinese tourists are preferring Vietnam over South Korea owing to the negative perception about the latter's collaboration with US over deployment of Terminal High Altitude Area Defense (THAAD).
Safety and security are the key concern of tourists. As tourism is a luxury and leisure segment, any negative news about a country's domestic or international issue usually leads to low tourist arrivals. In contrast, improved geopolitical situation can help in renewing tourist confidence. This is evident from the turnaround in Colombia's inbound tourism sector. According to the report, Colombia's tourism sector has witnessed a steady growth in the last two years, owing to improved security situation in the country. The ceasefire agreement between Marxist rebels FARC and the government of Colombia has led to a decline in travel advisories from Europe and the US. This has given an organic boost to the tourism sector in Colombia. The report analyzes that the tourism sector in Colombia has witnessed a double-digit growth on account of these factors.
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Indonesia's economy is heavily dependent on revenues generated through inbound tourism. In view of the significant contribution of the tourism sector to overall economy of Indonesia, the government adopted a new visa policy which enabled visa-free travel to tourists from over 45 countries. Indonesia is taking important steps to boost its travel sector, and aims to play host to over 15 million tourists in 2017.
Overall, the report is a must-buy for stakeholders in the CIVETS travel sector. In addition to offering historical assessment and projected growth, the report offers comprehensive information to understand key drivers, trends, and opportunities in this diverse and emerging sector.
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