Recently published research from Business Monitor International, "Hungary Tourism Report Q3 2013", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 06/28/2013 --BMI's Hungary tourism report examines the trends in inbound and outbound tourism expected to be seen between 2013 and 2017. Hungary is one of the most popular tourist destinations in the world, but was still affected by the global economic crisis that crippled much of Central and Eastern Europe in recent years. Signs of recovery are emerging however and we expect tourism in Hungry to do well over the forecast period with growth expected in hotel accommodation and receipts from travel related expenditure.

Hungary's domestic economy is showing signs of improvement, with a higher GDP and increased private consumption serving to boost outbound tourism, which we expect will increase by between 3% and 6% per year to reach over 7mn by 2017, an increase on previous forecasts based on revised and improved economic forecasts. As the European and international economy recovers from the lingering effects of the global credit crunch we also expect to see an increase in inbound tourism particularly from Hungary's CEE neighbours. Any growth in inbound travel is dependent on the economies of countries within the Eurozone continuing to show signs of improvement, particularly German, a major market for travel to Hungary.

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Budapest, the capital city, is likely to remain the most popular attraction in Hungary and has long been marketed as a short break destination. Indeed the city is one of the most enduringly popular tourist attractions in Europe, with millions of visitors every year. However the country does have more attractions further afield, including the historical town of Visegrad, several UNESCO World Heritage sites and the Mecsek Mountains and the government is keen to extend the benefits of tourism spending to this regions.

Hungary has a well developed travel infrastructure with good rail links to the rest of Europe, as well as several airports served by both major carriers and low cost budget airlines. The road network is also well developed and a range of accommodations are available. However most visitors to Hungary are short term, typifying the country as a weekend break destination, and significant investment will be needed for Hungary to become a major competitor to other longer stay European vacation destinations like Italy and Croatia.

- Hungary was named an important market for investment by Starwood, a major global hotel group reflecting the potential for growth present in the tourism market and we expect the overall number of hotels in the country to increase by 2017.
- The government is investing in several infrastructure improvement projects including expansion of the country's rail network and improvement of the international airport at Budapest.
- As the Eurozone economy recovers we expect to see increases in both inbound and outbound travel, reaching 51.5mn and 7.2mn respectively by 2017.

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