Boston, MA -- (SBWIRE) -- 09/19/2013 -- Following a period of contraction in 2009 due to the financial crisis, the performance of the Danish travel and tourism sector strengthened. The country recorded an increase in the volume of both domestic and international visitors, and consequently a rise in tourist expenditure. Promotional activities by the Danish Tourism Board (DTB), coupled with relatively stable economic conditions, were considered the key growth drivers. Tourism has a significant role to play in the Danish economy in terms of its contributions to GDP and employment. According to the World Travel and Tourism Council (WTTC), in 2012, tourism accounted for 6.5% of the nation's GDP and 7.6% of its total employment.

Key Highlights

- Domestic tourist volumes declined slightly from 24.9 million trips in 2008 to 24.2 million in 2012. However, it is expected that domestic tourist volumes will expand over the forecast period at a CAGR of 0.87%, to reach 25.3 million by 2017. Domestic demand will be driven by economic growth, a decrease in unemployment, and government initiatives to promote tourism.
- Inbound expenditure increased across all categories during the review period, with the retail category registering the largest growth at a CAGR of 2.21%. Transportation accounted for the largest proportion of total inbound tourist expenditure in 2012 with a share of 32.1%. Over the forecast period, the travel intermediaries category is expected to record the highest CAGR of 3.68%, followed by entertainment and sightseeing with 3.32%, and accommodation with 3.31%. Total inbound expenditure is expected to increase from DKK31.2 billion (US$5.4 billion) in 2012 to DKK36.4 billion (US$6.3 billion) by 2017.
- Outbound tourism expenditure increased from DKK56.7 billion (US$11.2 billion) in 2008 to DKK63.5 billion (US$10.9 million), at a review-period CAGR of 2.86%. In 2017, outbound expenditure is expected to record a forecast-period CAGR of 4.72%, to reach DKK79.9 billion (US$13.8 billion). Spending on accommodation accounted for 27.1% of the total expenditure in 2012, followed by foodservice and transportation with 16.5% and 15.9% respectively. Over the forecast period, the travel intermediaries category is expected to register the largest growth at a CAGR of 5.00%.
- Denmark's air traffic volume, both domestically and internationally, increased during the review period. The volume of passengers carried by Danish and foreign airlines reached 26.5 million in 2012, representative of a review-period CAGR of 1.87%. The number of passengers carried is expected to increase at a forecast-period CAGR of 3.63%, to reach 31.7 million in 2017. Total revenue is anticipated to increase from DNK22.2 billion (US$3.8 billion) in 2012 to DNK26.7 billion (US$4.6 billion) in 2017. This growth will be supported by increasing tourist volumes and air capacity.

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Companies Mentioned in this Report: Cimber A/S, SAS Scandinavian Airlines Denmark A/S, Danish Air Transport A/S, Air Greenland A/S, Jet Time A/S, Copenhagen Marriott Hotel, Radisson Blu Hotels Denmark, Copenhagen Admiral Hotel, Arp-Hansen Hotel Group A/S, Choice Hotels Denmark A/S, Hertz Denmark, Europcar Denmark, Byens Billeje, Budget Rent a Car Denmark, Sixt Denmark A/S, Trans Nordic Tours, Atlantis Rejser A/S, Folkeferi, Bravo Tours A/S, Falk Lauritsen Rejser A/S

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