Fast Market Research

Hungary Tourism Report Q1 2013: New Research Report Available at Fast Market Research

Recently published research from Business Monitor International, "Hungary Tourism Report Q1 2013", is now available at Fast Market Research


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.

View Full Report Details and Table of Contents

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).

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Browse all Consumer Goods research reports at Fast Market Research

You may also be interested in these related reports:

- Australia Tourism Report Q1 2013
- Greece Tourism Report Q1 2013
- Croatia Tourism Report Q1 2013
- Romania Tourism Report Q1 2013
- China Tourism Report Q1 2013
- Costa Rica Tourism Report Q1 2013
- Thailand Tourism Report Q1 2013
- Oman Tourism Report Q1 2013
- Hong Kong Tourism Report Q1 2013
- Egypt Tourism Report Q1 2013