New Consumer Goods research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/28/2013 -- The Greece Tourism Report considers the prospects for the tourism sector over the longer term but focuses heavily on major short-term issues affecting the sector. In 2011, there was a strong rebound for inbound tourism to Greece, despite strikes and protests against government austerity measures eroding Greece's risk profile. Hospitality sector prices in key tourist locations have reportedly fallen sharply in an effective internal devaluation, illustrating one underlying issue behind this uptick in inbound tourism. Political unrest in North Africa was another reason, as it resulted in a shift in tourism demand, providing a short-term boost to Greek tourism. Despite this, BMI believes that a grim outlook for the eurozone - the country's key source region - will undermine prospects for Greek tourism in 2012 but recovery is expected from 2013. A full-blown economic depression in Greece will also ensure domestic tourism remains extremely weak.
View Full Report Details and Table of Contents
Using official data on the number of foreign visitors to Greece, the report also analyses the changing dynamics of major source markets, with Russia, for example, becoming increasingly important in the context of inbound tourism to Greece, though still not rivalling Germany and the UK, which are two of the most important source markets.
Latest figures on non-resident arrivals in H112 show the extent of the downturn in the tourism sector, with visitors numbers down 9% year-on-year (y-o-y). This was a slight improvement though on a 12% yo- y fall in Q112. After a considerable increase in Russian tourism to Greece in the previous two years, the number of tourists grew a more moderate 8% y-o-y in H112. A number of key source markets, such as France, Bulgaria, Cyprus, Italy and the Netherlands, all recorded significant y-o-y falls in arrivals. One relatively important source market that stands out against these negative trends is the UK, with the number of arrivals up a sizeable 16% y-o-y in H112. More recent data on the number of international tourist arrivals at the largest 15 airports during the period January-September 2012 underline weakness in the tourism sector, with visitors down by 2.5% y-o-y, but this is a slight improvement on the decline in H112.
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 http://www.fastmr.com 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:
- Hungary Tourism Report Q1 2013
- Australia 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
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)