Market Research Reports, Inc. has announced the addition of “Travel and Tourism in Hungary to 2017” research report to their offering.
Lewes, DE -- (SBWIRE) -- 01/23/2014 -- The Hungarian travel and tourism sector suffered due to the financial crisis which engulfed the country in 2009. Although the sector recovered in 2010?2011, the country entered another recessionary phase in 2012. However, the government and tourism promotion agencies have made continuous efforts to increase tourism activity.
The report provides detailed market analysis, information and insights, including:
- Historic and forecast tourist volumes covering the entire Hungarian travel and tourism sector
- Detailed analysis of tourist spending patterns in Hungary 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
This report provides an extensive analysis related to the tourism demands and flows in Hungary:
- It details historical values for the Hungarian tourism sector for 2008–2012, along with forecast figures for 2013–2017 .
- It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2008–2012 review period and the 2013–2017 forecast period.
- The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Hungary.
- It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2008–2012 review period and the 2013–2017 forecast period.
Reasons To Buy
- Take strategic business decisions using historic and forecast market data related to the Hungarian travel and tourism sector.
- Understand the demand-side dynamics within the Hungarian travel and tourism sector, along with key market trends and growth opportunities.
- Hungary’s tourism sector is driven by international arrivals, with inbound tourism expenditure standing at HUF1.2 trillion (US$5.2 billion) in 2012, compared with HUF868.2 billion (US$3.9 billion) from domestic travel.
- Health and wellness tourism holds an important place in the Hungarian tourism sector. Of the total international arrivals to Hungary in 2012, 13.2% visited for health reasons. According to the Tourism Ministry, six health resorts, Hévíz, Hajdúszoboszló, Bük, Balatonfüred, Zalakaros and Sárvár, were among the 10 leading tourism destinations in the country.
- The number of domestic trips declined from 18.1 million in 2008 to 14.8 million in 2009, due to the financial crisis. Domestic tourist volumes rebounded in the following two years, reaching 15.6 million in 2011, but as the country slipped into recession again in 2012, the number of domestic trips declined to 14.4 million.
- India has been recognized as a key emerging market by the Hungarian National Tourist Office (HNTO). A total of 10,568 Indian tourists visited Hungary in 2012, totaling 28,714 guest nights in the same year. The aim is to increase this number by 15% over the next two to three years by promoting Hungary’s meetings, incentives, conferences and exhibitions (MICE), educational and leisure tourism offerings.
- The estimates growth in outbound tourist volume over the forecast period at a CAGR of 1.55%, with the total reaching 4.4 million in 2017, which is below the pre-crisis level of 5.1 million outbound trips in 2008. Outbound tourism expenditure is also expected to rise from HUF656.5 billion (US$2.9 billion) in 2012 to HUF736.2 billion (US$3.3 billion) in 2017, at a forecast-period CAGR of 2.32%. The expected improvement in economic conditions will strengthen consumer confidence and support greater expenditure on travel and holidays, which will support the growth of outbound travel.
- The expects growth in the capacity of the Hungarian airline industry over the forecast period, at a CAGR of 2.37%. The highest growth of 6.2% will be recorded in 2013 as the number of seats increased with the launch of Solyom Airways and various new routes. LCCs will dominate the market as Wizz Air and Ryan Air have launched several new routes to capture the void in supply created by the failure of Malév.
- Following a weak performance, the outlook for Hungary’s hotel industry is positive. Over the forecast period, The expects total hotel revenue to increase at a CAGR of 5.05% to reach HUF361.0 billion (US$1.6 billion) by 2017. Growth will be supported by increase in the number of international arrivals and an increase in expenditure by Szép cardholders.
- Considering the expected growth in business travelers over the forecast period, The expects the car rental market value in Hungary to increase slightly to reach HUF5.9 billion (US$26.2 million) by 2017. The average revenue per day is also expected to increase to HUF9,358.3 (US$41.6) in 2017, which is still below the pre-crisis level of HUF9,428.4 (US$54.8) recorded in 2008. The expects that although on a growth track, the Hungarian car rental industry is rising at a slow pace and will not reach the pre-crisis level before 2015. The expansion of international brands into the Hungarian market will increase competition.
- Traditional travel agencies generated 77.6% of sales in 2012. However, travelers continued to swing from traditional channels of booking or planning, to online booking. The market value of online travel booking has steadily grown, with the online channel’s share of total market value increasing from 9.1% in 2008 to 22.4% in 2012.
Spanning over 110 pages, 108 tables and 55 figures “Travel and Tourism in Hungary to 2017” report covering the 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 covering 20 companies - Ryanair Hungary, Wizz Air Hungary Ltd, Lufthansa Airlines Hungary, Farnair Hungary KFT, Air France Hungary, Four Seasons Hotels and Resorts Hungary, Accor Hotels Hungary, Danubius Hotel and Spa nyrt, Kempinski Hotel Budapest zrt, Hotel Palazzo Zichy, Fox Autorent Hungary Europcar Hungary, Sixt Rent a Car Hungary, Bér-Elek KFT, Hertz Rent a Car Hungary, Multigo Touroperator Ltd, Best of Hungary Tours KFT, Fehérvár Travel KFT, Budatours KFT, Privilege Tours KFT.
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