New Consumer Goods market report from Business Monitor International: "Romania Tourism Report Q1 2013"
Boston, MA -- (SBWIRE) -- 01/11/2013 -- The Romania Tourism Report examines the long-term potential of the tourism sector but also highlights short-term risks associated with the sharp slowdown in the eurozone - the major source region for inbound tourists. Overall, the healthy rebound in the hospitality sector in 2011 (for both foreign and domestic tourism) was broadly maintained in 2012. Further modest recovery is also anticipated over the extended forecast period to 2017.
The report examines statistical data on the number of cross border foreign visitors by region and country (including same-day visitors), flagging the changing dynamics over recent years, with the relative importance of some traditional source markets showing signs of weakening.
Domestic tourism by Romanian residents is also considered, which is an area offering considerable potential over the longer term as Romanian per capita incomes rise.
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The report also looks at the growth strategies being employed by key players in the Romanian tourism sector, particularly airlines, as opportunities emerge in a still nascent market. The collapse of Malev Hungarian Airlines, which offered numerous routes to Romania, in February 2012 also offers considerable opportunities for rival airlines.
There was been a broad upward trend in the growth of foreign visitors during January-August 2012. Latest customs data for the period record positive growth of 5.7% year-on-year (y-o-y), after negative growth at the beginning of the year. Indeed, in May and July, there was relatively strong growth year-onyear in the number of visitors, of 9% and some 6% respectively, while in August growth was surprisingly robust (+13% y-o-y).
During the first eight months of 2012, the hospitality sector reported a relatively strong set of results for both foreign and domestic tourists, following a poor early start to the year. The total number of tourist nights in all accommodation establishments increased 8.5% y-o-y, with both foreign and domestic tourist nights up by a similar percentage (and somewhat below the growth rates recorded over the same period in 2011). Tourism growth in August however was weaker, with overall tourist nights up 6% y-o-y (compared with over 23% y-o-y in August 2011), and foreign and domestic tourist numbers up 4% and 6% respectively.
Over the last quarter BMI have revised the following forecasts and views:
- Given the relatively positive performance of foreign tourism recently, BMI has raised its annual growth forecast for arrivals to grow by 3.5% over 2013.
- BMI's real GDP growth forecast for 2013 for the major source region, the eurozone, has been edged down marginally to only 0.6% (compared with 0.9% previously).
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