Singapore, Greece and Zambia Tourism Report Q2 2016; New Report Launched

Market Research Reports, Inc. has announced the addition of “Singapore, Greece and Zambia Tourism Report Q2 2016” research report to their website


Lewes, DE -- (SBWire) -- 03/15/2016 --Singapore has a very well-established and developed tourism sector. The country remains a popular stopover destination for long-haul travellers and is a growing short-haul destination for visitors from countries throughout the Asia Pacific region, particularly China and Indonesia.

Although a small city state, Singapore offers a broad range of tourism attractions. We expect international arrivals to increase at a robust pace throughout our forecast period to 2020, supported by ongoing public investment in transport infrastructure and the hotel sector as well as benefitting from a pro-active global marketing campaign, providing a boost to already high tourism related expenditure and healthy industry value.

Key Updates And Forecasts
- Tourism arrivals to Singapore increased by 61,500 through the first eleven months of 2015, underscoring a turnaround for the sector following a difficult past two years. It is likely that full-year numbers will reach the STB's target of between 15.1 million and 15.5 million visitors for 2015.
- Much of the growth came from key regional source markets such as China (an annual increase of 21%), India (up 7%) and Taiwan (up 11%).
- A weak Singapore dollar will help support the competitiveness of Singapore's tourism sector over the next 12 months in a challenging regional economic environment.

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Traditionally, Greece has been a popular and well established holiday destination due, in no small part, to its favourable climate, excellent beaches and historical importance. This has produced a welldeveloped tourist sector. Over the past few years the country has experienced a significant fall in tourist arrivals as sustained economic insecurity and the recent refugee crisis have deterred many potential visitors.

We do, however, forecast growth for the tourism sector over the short- and mid-term, as many tourists look to exploit the favourable exchange rates brought about by Greece's financial problems. This growth will also be strengthened by tourists who may have previously visited destinations in the Middle East but now look to Greece as a similar option with a lessened threat of terrorism.

Greece has a strong accommodation sector, comprising of many of the major international hotel chains, and good travel links with important source markets throughout Europe and further afield however, new development in both areas will be important as tourist numbers begin to pick up once more.

This increase in demand could lead to potential investment opportunities. Greece has recently toughened its border control in the light of the vast number of migrants attempting to access Europe through the country and this could negatively affect the growth of tourism by persuading holiday makers to choose alternative destinations.

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The outlook for Zambia's nascent tourism market is currently very positive. Arrivals are expected to increase rapidly throughout the five-year forecast period to 2020 as the country improves its international transport connections and as it gradually raises awareness of its many attractions, including the popular Victoria Falls and a growing safari holiday sector. Challenges remain in the form of an underdeveloped domestic transport network and limited hotel sector, which could deter some visitors, and Zambia faces significant competition from more established regional destinations such as Kenya and South Africa.

Key Updates And Forecasts
- Business tourism represents a valuable potential growth area for Zambia. Meetings, incentives, conferences and events reportedly increased by 300% in 2015 in Livingstone, according to the Zambia Tourism Board.
- The country is also developing cultural tourism, and in 2016 the third annual Livingstone International Culture and Arts Festival is expected to attract up to 10,000 visitors.
- We are currently forecasting double-digit annual growth in terms of international arrivals to Zambia between 2016 and 2020, with arrivals set to reach over 2mn by the end of the current forecast period. Although a small market, the rapid growth is a positive sign for potential investors.

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