Boston, MA -- (SBWIRE) -- 11/21/2014 -- A slowdown in broader European economic growth as well as persistently slow domestic economic growth have led us to revise our predictions for the Czech tourism market downwards and we expect to see a slight decline in arrivals in 2014. This is likely to be a minor setback though as we expect positive developments across all of the key market indicators for the Czech tourism industry over the remainder of our forecast period, though faster growth in other countries may see the Czech Republic fall behind its regional rivals.

Despite a decrease in arrivals of 0.8% in 2014, we expect to see arrivals recover and rise by 600,000 between 2015 and 2018 to just below 8.0mn. The initial decrease is related to a sharp drop in arrivals from Russia as a result of the increasing political tensions between Russian and the EU as well as slower than anticipated economic growth in many of the Czech Republic's key European source markets. Growth in arrivals from these markets between 2015 and 2018 will drive the growth in overall arrivals but this rate is slower than many of the Czech Republic's regional rivals in tourism. Additionally, a dependence on European arrivals for the tourism market will leave the industry vulnerable to economic disruptions in the EU such as the recent eurozone crisis. A high number of European arrivals is perhaps surprising, but it is due to the Czech Republic's central position on the European continent.

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This accessibility, as well as an excellent transport infrastructure system, also benefits outbound travel which we expect to see increase steadily at between 3.0% and 3.5% y-o-y between 2015 and 2018, almost reaching 7.2mn departures. Similarly to inbound tourism, European countries are popular for outbound travel.

Due to an increase in inbound tourism and GDP growth, the Czech Republic is likely to continue to see an expansion of the hotel industry over the coming four years but this growth will be slower than previously estimated. BMI...

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-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

Inbound tourism: Arrivals (?000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).

Outbound tourism: Departures (?000), growth (% y-o-y), departures by regional destination (?000 and growth % y-o-y).

Travel: Methods of travel for arrivals (Air, Ship, Rail), (?000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).

Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (?000), (growth % y-o-y), total overnight stays, (?000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (?000), (growth % y-o-y).

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