New Market Report: Travel and Tourism in Germany to 2017
Fast Market Research recommends "Travel and Tourism in Germany to 2017" from Timetric, now available
Boston, MA -- (SBWire) -- 12/25/2013 --Germany is one of Europe's leading travel and tourism sectors. The country has built a reputation on being a leader in terms of both leisure and business travel. Germany emerged from the financial crisis and subsequent European debt crisis relatively unscathed and its travel and tourism sector recorded growth during the review period (2008-2012). However, the growth was only marginal and many firms had to change their business strategies in order to remain profitable.
- According to Timetric projections, Germany's real GDP is likely to expand by 0.4% and 1.5% in 2013 and 2014 respectively, supported by a rise in private consumption led by increases in wages and employment. However, persistent weak economic activity in Europe will continue to affect both investments and exports. The German economy is projected to grow in the range of 1.7-3.2% over 2015 and 2017.
- In 2007, the EU introduced the Blue Card, which is aimed at facilitating the immigration of highly qualified workers. In April 2012, Germany implemented Blue Card legislation in line with areas of need such as engineering, science and information technology. In Germany, qualified non-EU workers can apply for permanent residence, which will increase the quality of service in the German travel and tourism sector.
- According to FDI Markets data, Germany recorded 3,535 investment projects from 3,000 foreign companies between 2007 and 2011. This growth in foreign direct investment (FDI) supports Germany's attractiveness as a business location. The European Spatial Observation Network Survey 2011 (ESPON) noted that Germany was the most accessible country in Europe in terms of a location for organizing meetings and events. The government should make efforts to tap the nation's business potential due to its geographical advantage.
- Domestic travel by German citizens has been subdued due to difficult economic conditions. A large proportion of the country's working population suffered salary cuts, and many lost their jobs following the financial crisis. As a proportion of Germany's total employment levels, travel and tourism fell from 4.9% in 2011 to 4.8% in 2012.
- The German government has made efforts to promote inbound tourism. In April 2013, the German National Tourist Board (GNTB) launched a social media campaign: Youth HotSpots in Germany - Share the Moment at the 2013 Internationale Tourismus-Borse (ITB) in Berlin. At the core of the campaign is a smartphone app, Youth HotSpot, which will offer free Wi-Fi hotspots to travelers in Germany.
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Companies Mentioned in this Report: Deutsche Lufthansa AG, Air Berlin Plc & Co. Luftverkehrs KG, Condor Flugdienst GmbH, Germania Fluggesellschaft mbH, TUIfly Vermarktungs GmbH, Breidenbacher Hof, Hotel Sofitel Berlin Gendarmenmarkt, Rocco Forte Hotels Germany, Grand Hotel Esplanade Berlin, Adlon Kempinski Hotels Germany, Sixt SE, Europcar Germany, Hertz Autovermietung GmbH, Avis Budget Autovermietung GmbH & Co. KG, Enterprise Rent A Car Germany GmbH, Thomas Cook AG, DER Touristik Frankfurt GmbH & Co. KG, TUI AG, Alltours Flugreisen GmbH, Carlson Wagonlit Deutschland GmbH
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