Boston, MA -- (SBWIRE) -- 02/25/2013 -- The Hungary Tourism Report considers the current state of the tourism sector and assesses its potential over the five-year period to 2017. Although growth slowed markedly at the end of 2011, the year was favourable for foreign tourism in Hungary. Growth in tourist arrivals (non-residents staying at least one night) was the strongest for many years, up by almost 8% on 2010. The number of overnight and sameday visitors though rose by a more modest 3.5%, while domestic tourism demand was weak. BMI expects a moderate slowdown in foreign tourism growth in 2012, with growth picking up in 2013.

The report analyses hospitiality sector data on overnight stays by both foreign and domestic tourists, as well as reviewing key source markets in the accommodation sector. Aside from the traditional spa and health tourism sectors (a motivational factor for about 15% of foreign tourists), conference tourism - which recorded a strong rebound in 2010 - is also considered. Medical tourism is another burgeoning area. The bankruptcy of Malev Hungarian Airlines in February 2012 also presents opportunities for rival carriers.

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Latest figures for Q212 show growth in foreign visitor arrivals at a reasonable 5% year-on-year (y-o-y). Same-day visitors were up 6% y-o-y, accounting for three quarters of total arrivals, while the number of overnight visitors rose a slightly weaker 3%. In the hospitality sector, for the period January-July, the underlying picture is one of relatively robust international tourism demand but continuing weak domestic tourism. Growth in tourism (overnight stays) from Europe was solid, at 8% y-o-y, with a turnaround in German tourism to Hungary (after declining in the previous three years), and buoyant growth from Russia and Italy. Increased Russian and Italian tourism accounted for well over one third of the overall improvement in international tourism nights in all accommodation establishments in the seven-month period.

Over the last quarter, BMI has revised the following forecasts and views:

- BMI's growth forecasts for foreign visitor arrivals (revised this quarter to include over-night and same-day visitors) are 3.1% and 3.4% in 2012 and 2013 respectively.
- Inbound tourism from Europe is holding up rather well (considering the poor state of the eurozone economy), which may be partly due to the Arab Spring (boosting Russian tourism, for example).
- BMI's eurozone real GDP growth forecast for 2013 has been edged down to only 0.6% (compared with 0.9% previously).

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