Market Research Reports, Inc. has announced the addition of “Travel and Tourism in Cuba to 2018” research report to their offering.
Lewes, DE -- (SBWIRE) -- 02/20/2014 -- The Cuban travel and tourism sector’s performance was modest during the review period (2009–2013). However, important reforms, such as the US government lifting its travel ban and economic reforms which attracted foreign investment and business tourists to Cuba, were beneficial for the sector.
The report provides detailed market analysis, information and insights, including:
- Historic and forecast tourist volumes covering the entire Cuban travel and tourism sector
- Detailed analysis of tourist spending patterns in Cuba for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
- Detailed market classification across each category, with analysis using similar metrics
- Detailed analysis of the airline, hotel, car rental and travel intermediaries industries
Inquiry for more information visit: http://www.marketresearchreports.com/timetric/travel-and-tourism-cuba-2018
This report provides an extensive analysis related to the tourism demands and flows in Cuba:
- It details historical values for the Cuban tourism sector for 2009–2013, along with forecast figures for 2014–2018
- It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009–2013 review period and the 2014–2018 forecast period
- The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Cuba.
- It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2009–2013 review period and the 2014–2018 forecast period.
Reasons To Buy
- Take strategic business decisions using historic and forecast market data related to the Cuban travel and tourism sector.
- Understand the demand-side dynamics within the Cuban travel and tourism sector, along with key market trends and growth opportunities.
Find other reports on Cuba Market at : http://www.marketresearchreports.com/countries/cuba
- Cuba is a socialist country, governed by a communist government. After Fidel Castro’s resignation as president in February 2008, his brother Raúl Castro was elected. Since then, the government has been making continuous efforts to improve the country’s economy, living standards, international relations and infrastructure development. Following a growth of 2.4% and 2.8% in 2010 and 2011 respectively, Cuba’s real GDP expanded by 3% in 2012. Economic stability was also reflected in the travel and tourism sector and growth was recorded in both domestic and international trips.
- Havana is a leading business and leisure tourist destination. In TripAdvisor’s 2013 Travelers’ Choice Awards, Havana was ranked first of 54 tourist destinations ‘on the rise’, based on traveler feedback. Santiago de Cuba, the second-largest city in Cuba, is also a leading tourist destination. It is home to San Pedro de la Roca, a UNESCO World Heritage site, and Baconao Park, which is on the UNESCO World Heritage Biosphere Reserve List.
- Domestic tourism in Cuba has been growing since 2008 when President Raúl Castro lifted the ban on Cubans staying at hotels previously reserved for foreigners. The growth can also be attributed to capitalist reforms made by the government allowing residents to travel freely. The average expenditure per domestic tourist increased during the period, from CUP156.2 (US$7.0) in 2009 to CUP212.0 (US$9.5) in 2013.
- Cuba recorded a 33.3% increase in arrivals from the US in 2012, driven by the lifting of a ban on travel to Cuba by the US authorities. The number of arrivals from the US increased at a CAGR of 20.4%; it is expected to become the second-largest source country for Cuba in 2018.
- In January 2013, the government decided to ease restrictions on Cubans traveling overseas. According to the new law, Cubans are now permitted to travel in foreign countries without the need for an exit permit. In addition, it is not mandatory for Cubans to return to Cuba to have their passports renewed for two years. As a result, many Cubans are now looking for tourism offerings as well as job opportunities outside of Cuba, specifically in the US, Mexico, Canada and Spain.
- Total airline capacity recorded a growth of 10.4% in 2013, increasing from 2.1 million seats in 2012 to 2.3 million in 2013. The increase can partly be attributed to various airlines expanding their fleets, particularly national flag carrier Cubana. Cubana added three Antonov An-158s in 2013 and plans to add three more in 2014.
- The Cuban hotel market remained relatively stable during the review period, with total revenue posting a CAGR of 1.20%. Steady tourism demand from key source countries helped the industry to grow. However, a decline at a rate of -19.8% was recorded in the number of establishments in 2012. The decline can partially be attributed to Hurricane Sandy, which devastated several buildings, particularly in Santiago de Cuba, in October 2012. Additionally, as foreign investors can only buy into the luxury segment, there was a decline in the number of budget hotels.
- The car rental market is characterized by old cars as, up until 2010, Cubans were not permitted to buy or sell cars. The market performed well during the review period, with the industry’s total market value increasing at a CAGR of 4.99%. Following a decline of 6.5% in 2009 due to a decrease in leisure and business tourism in the wake of the eurozone debt crisis, the car rental market recovered.
- The travel intermediaries’ market value increased at a review-period CAGR of 8.51%. Dynamic packages (or customized tour packages) in particular have recorded robust growth during the period at a CAGR of 31.91%. The growth can be attributed to dynamic packaging being a new concept allowing the customer to customize the package according to their needs.
Spanning over 91 pages, 87 Tables and 56 Figures “Travel and Tourism in Cuba to 2018” report provide Travel and Tourism Sector In Context, Country Fact Sheet, Tourism Flows, Airlines, Hotels, Car Rental, Travel Intermediaries, Tourism Board Profile, Airport Profiles, Company Profiles – Airlines, Company Profiles - Hotels, Company Profiles – Car Rental, Company Profiles – Travel Intermediaries, Market Data Analysis, Appendix.The Report Cover 15 Companies - Aero Caribbean, Aerogaviota, Cubana de Aviación S.A.,Meliá Hotels Cuba, Grupo Hotelero Islazul, Grupo Hotelero Cubanacan SA, Gran Caribe Grupo Hotelero, Habaguanex Hotels, Via Rent a Car TransGaviota, Transtur SA, Marysol Travel Services SA, Liberty International Cuba, Cuba Real Tours, La Coronación SA, Cubanjourneys.com.
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