Fast Market Research

Recently Released Market Study: Czech Republic Tourism Report Q4 2012

New Consumer Goods research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 11/12/2012 -- BMI's Czech Republic Tourism Report examines the recent performance of the tourism sector and looks at its potential over the period to 2016. Final data for 2011 record annual growth of almost 8% in foreign visitor arrivals in the hospitality sector (although this could be revised down). This represents a good pick-up in foreign tourism following a recovery in 2010. BMI expects a slowdown in the growth of visitor arrivals this year although, based on recent data, not as sharp as previously anticipated. The forecasts are largely based on a grim outlook for the eurozone, which is the key source region.

The report considers data on the number of guests and overnight stays in the hospitality sector (and spa sector), including domestic tourism, which accounts for about a half of all guest nights. Source markets are analysed, revealing that the sector faces less interest from a number of important traditional source markets. However, the emergence of Russia as the second largest source market in 2011 - probably influenced by the Arab Spring - highlights promotional opportunities.

View Full Report Details and Table of Contents

The latest performance of the sector is revealed in preliminary figures for Q112, which show growth of over 14% year-on-year (y-o-y) in foreign visitor arrivals. This is surprisingly strong and slightly more than double the growth rate recorded in the same period in 2011 (it also implies sizeable downward revisions to last year's data). Domestic tourism was also healthy in Q112, with guest numbers up 11% yo- y, while total guests increased around 13%. The top two source markets for tourists, Germany and Russia, both recorded positive growth, but it was very different in magnitude at 8% and 37% y-o-y respectively.

According to recent preliminary data on overnight stays in all accommodation establishments in Q112, the total was up nearly 9% y-o-y. Nights attributed to foreign tourists rose a solid 13% y-o-y, while domestic tourist nights were up a weaker 5%. As mentioned above, these overnight data also suggest a marked lowering of figures for 2011.

Over the last quarter BMI has revised the following forecasts/views:

- With a strong performance in the first quarter of the year, BMI has raised its outlook for growth in foreign visitor arrivals in 2012 to over 4% from 2.4% previously, with some recovery in growth next year.
- BMI's real GDP growth forecasts for the eurozone have been lowered slightly for 2012 to -0.6% from -0.5%, rising to only 0.9% growth (down from 1.2% previously) in 2013.
- In 2011, Czech Airlines (CSA) reported a sizeable fall in total revenue, compared with 2010, and a pre-tax loss of some CZK241mn (US$13.6mn) after making a profit a year earlier. Although the airline made significant staff cost cuts, a sharp fall in the number of flights and a 40% y-o-y increase in fuel costs had an adverse impact on final results.

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 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:

- Czech Republic Tourism Report Q4 2012
- Romania Tourism Report Q4 2012
- Croatia Tourism Report Q4 2012
- New Zealand Tourism Report Q4 2012
- United Kingdom Tourism Report Q4 2012
- Thailand Tourism Report Q4 2012
- India Tourism Report Q4 2012
- Oman Tourism Report Q4 2012
- China Tourism Report Q4 2012
- Chile Tourism Report Q4 2012