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Boston, MA -- (SBWIRE) -- 10/22/2013 -- BMI's Romania Tourism Report looks at the expected trends in the country's tourism market, including the possibilities for growth in inbound and outbound travel and the nature of the investment environment. Generally, we are expecting slow but steady growth across most key market indicators, although this is predicated on the continued economic recovery of major markets within Romania.
Tourism in Romania is largely dependent on rising incomes across the wider Central and Eastern Europe (CEE) region and, as such, we saw reasonable growth in the tourism sector in 2012. Data from Romania's National Institute of Statistics, released in February 2013, showed that foreign visitor numbers grew by 4.3% over 2012, to reach 7,936,700. Moving forward, we expect this trend towards growth to continue, and in 2017 we expect to see an annual inbound arrivals figure of close to 10mn.
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Countries within Europe will continue to make up majority of Romania's source market, particularly its regional neighbours in the CEE area - such as Hungary, Moldova, Bulgaria and Ukraine - which form the four most important markets for inbound travel. Travel from these countries is facilitated by good air and rail transport links, though long-haul travel would benefit from further expansion.
As well as the expected increase in arrivals, BMI also expects outbound travel from Romania to show slow but steady growth throughout the forecast period, to reach close to 15mn in 2017, up from 13.8mn in 2013. This growth is based on the gradual improvements expected in the Romanian domestic economy, as more people have disposable income for travel.
The growth in inbound and outbound travel will provide a boost to the industry value, particularly in the hotel sector, and BMI believes that the number of hotels and other accommodation establishments in Romania will increase. The CEE region in general offers an range of attractive investment opportunities for hotel groups and other tourist-related industries - particularly in Romania where developers can take advantage of Romania's relatively undeveloped coastline and affordable real estate opportunities.
- Hilton, Marriott, Accor and Starwood are all developing new properties at a range of locations, reflecting wider growth in the Romanian hotel market. By 2017, we expect the number of hotels in Romania to reach over 1,490, up from 1,380 in 2012.
- Outbound air traffic also looks set for good growth over our forecast period to 2017, rising from 4.13mn passengers in 2013, to 4.56mn in 2017.
- Key events in Romania in 2013 include the Transylvania International film festival, Bucharest Music Festival, and various other cultural events. The country also hosted the European Youth Olympics early in 2013.
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