Boston, MA -- (SBWIRE) -- 02/05/2015 -- 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.

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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.

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

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