Recently published research from Business Monitor International, "Romania Tourism Report Q2 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/26/2013 -- This quarter BMI has revised and restructured its tourism reports, incorporating a greater range of data and focusing on the hotel industry, the value of the tourism industry itself, and the impact of macroeconomic factors.
The ongoing economic uncertainty in Europe is having an effect on the domestic tourism industry in Romania. However, there is still a great deal of investment potential in Romania, for large tourist industries - particularly global hotel groups. Equally BMI believed that rising incomes across the wider CEE region are having a positive impact on the Romanian tourism sector, and will continue to do so over the medium term.
Romania's tourist industry showed reasonable growth in 2012. Data from Romania's National Institute of Statistics, released in February 2013, showed that foreign visitor numbers grew by 4.3% over 2012, to reach 7,936,700. This was just above BMI's forecast of a 3.2% increase in arrivals.
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An overview of Romania's Top 10 inbound tourism markets highlights the fact that Europe (both west and east) will remain its main source of tourism. All of the top 10 markets are European, with four from Western Europe (Germany, Italy, Austria and France) and six from Central and Eastern Europe (Hungary, Moldova, Bulgaria, Ukraine, Turkey and Poland). This reflects Romania's location within south eastern Europe, with good air and other transport links to both east and west.
Much of the CEE region is currently booming and various tourist industries, particularly the large global hotel chains, are looking towards the CEE region now as they see it as a potentially lucrative market. A large part of this growth will be seen in intra-CEE tourism, and Romania's tourism arrivals reflect this. Higher disposable incomes from Russia and other former states of the Soviet Union should also lead to increased outbound tourism demand for CEE countries such as Romania over the medium term.
BMI believes that the number of hotels and other accommodation establishments in Romania will continue to increase across our newly-extended forecast period to 2017. The CEE region is currently perceived as offering extremely attractive investment opportunities for hotel groups and other tourist-related industries - largely due to rising domestic tourism and regional tourism, supported by an increase in higher disposable incomes.
- Among new hotel openings scheduled for 2013/14 are Hilton's 109-room Hampton by Hilton Cluj- Napoca in Cluj (set to open by end H113) and Marriott's 147-room Courtyard by Marriott Bucharest (set to open early 2014).
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