Fast Market Research recommends "Travel Retail in Hungary" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 06/19/2014 -- There were several factors that had a negative impact on the performance of travel retailers in 2012. The value decline that started in 2008 due to the economic crisis continued in 2012. This was exacerbated by the intense expansion of online tourism and the general trend of trading down in travel and tourism following the rapid development of low cost carriers. Travel retailers suffered a decline of 9% in value terms in 2012, due to the steep decline of 12% in offline current value sales and the decline of 4% in internet value sales through intermediaries.
In 2012 the leading player in travel retail was NUR Neckermann Kft with value sales of HuF16.4 billion. NUR Neckermann Kft remained the leading company in travel retail leisure sales in 2012. The second leading player in travel retail was Ibusz Rt. Ibusz Rt was also the largest player in travel retail in terms of its distribution network (63 offices with 400 agents) and staff (400 people). The company is especially strong in terms of outbound tourism, domestic travel accommodation, transportation ticket sales and money exchange services. In addition to travel and tourism, the company is active in finance and property among other things. The third leading player in travel retail in 2012 was OTP Travel Kft, which leads in travel retail corporate business sales due to strong specialisation in incentive trips.
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Over the forecast period, travel retail is expected to start to recover and to grow by a value CAGR of 3%. The growth of travel retail is highly dependent on the evolution of the Hungarian economy as a major share of value sales is generated by package holidays sold to Hungarian tourists. Exchange rate volatility is expected to continue to be a major threat to travel retail, as tour operators and travel agencies pay in advance for travel services in foreign currency, but must price their products at a level that must appeal to a price-sensitive domestic consumer base.
Discover the latest market trends and uncover sources of future market growth for the Travel Retail industry in Hungary with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Travel Retail industry in Hungary, our research will save you time and money while empowering you to make informed, profitable decisions.
The Travel Retail in Hungary market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
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