Recently published research from Timetric, "Travel and Tourism in Norway to 2017", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 07/29/2013 -- The performance of the travel and tourism sector in Norway has strengthened after a slowdown in 2009 due to the global financial crisis. The country has recorded an increase in the number of visitors, both domestic and international, and expenditure by tourists. The relatively stable state of the economy, promotional activities by the tourism authority and the hosting of international events supported this growth. Tourism has a significant role to play in the Norwegian economy in terms of contributions to GDP and employment. According to the World Travel and Tourism Council, tourism contributed 6.2% to Norway's total GDP and accounted for 8.4% of total employment in 2012.
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- Tourism has a significant role to play in the Norwegian economy, both in terms of contribution to GDP and to employment. Total tourism output in Norway reached NOK136.0 billion (US$23.4 billion) in 2012.
- According to the World Economic Forum's Travel and Tourism Competitiveness Report 2013, which ranks 140 countries, Norway was 22nd in terms of overall travel and tourism competitiveness, and 10th, both in terms of safety and security, and tourism infrastructure. Key features of Norway's tourism offerings include the country's distinctive landscapes, attractive destinations such as Oslo, Bergen, Jostedalsbreen and Lofoten, and unique natural phenomena.
- Domestic tourist volume declined from 14.5 million trips in 2008 to 13.3 million trips in 2012. However, it is expected that the volume will expand over the forecast period, recording a CAGR of 1.03% to reach 14.0 million by 2017. Domestic demand will be mainly driven by strong economic growth and government initiatives to promote tourism in the country. Over the forecast period, domestic tourist expenditure is expected to increase at a CAGR of 5.14% to reach NOK52.2 billion (US$9.0 billion) by 2017.
- A solid expansion in inbound tourism occurred during the review period, as the number of international arrivals increased from 4.3 million in 2008 to 5.1 million in 2012, at a CAGR of 4.04%. International arrivals rose by 9.7% in 2010 and a further 4.1% in 2011, compared to the slight decline of 0.02% posted in 2009. It is expected that inbound tourist volumes will continue to increase over the forecast period, at a CAGR of 3.80%. International arrivals will be mainly driven by improved economic conditions in Norway's key source countries and government initiatives to promote Norwegian tourism in Europe and other parts of the world.
- To cater to the rising demand for air travel, Avinor has announced investments worth NOK37 billion for the 2014-2023 National Transport Plan period to improve infrastructure in Norway. Two of the largest projects in the plan include the NOK12.5 billion Terminal 2 project at Oslo Airport, and the NOK4 billion new terminal at Bergen Airport.
Companies Mentioned in this Report: SAS Norway, Norwegian Air Shuttle AS, Air Norway AS, Wideroe's Flyveselskap AS, Krohn Air AS, Nordic Choice Hotels AS, First Hotels AS, Rica Hotels Finnmark AS, Scandic Hotels Norway, Best Western Norway, EC Rent a Car Norway AS, Hertz Norway, Avis Rent a Car Norway, Budget Rent a Car Norway, Sixt Rent a Car Norway, Travel Planners of Scandinavia AS, Spitsbergen Travel AS, AE Tours AS, Fjord Travel Norway AS, Robinson Scandinavia AS
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