Boston, MA -- (SBWIRE) -- 08/15/2013 -- Ukraine's tourism sector has been plagued by the economic uncertainty seen across Europe. This has not only affected it domestically with internal tourism, but has also affected its main source markets, all of which are in Europe. Equally, the continued economic uncertainty has had an impact on Ukraine's outbound tourism figures. However, the country is well placed to take advantage of the burgeoning CEE inter-regional tourism industry, as it shares borders with seven other countries, and has well-developed rail and road networks.

View Full Report Details and Table of Contents

Ukraine co-hosted the UEFA Euro Championship with Poland in the summer of 2012, which has had a long-term beneficial impact on the Ukrainian tourist industry in a number of ways. In particular the country's international reputation as a tourist destination was well publicised, the after effects of which are still being seen a year later. Moreover, heavy investment in transport infrastructure and hotel developments has continued in the wake of the football event. Although many more investments are still needed, particularly in the mid-range hotel sector (3* and 4*) and in general utilities, infrastructure as Ukraine had previously been suffering from underinvestment for many years.

In general, given its location, the majority of Ukraine's inbound tourists from Central and Eastern Europe (CEE) come by road and rail. We expect this to continue, although air arrivals have increased due to the expanded airports. This is largely because the country is well placed in Europe for overland travel, as it is bordered by seven countries - including Russia, its largest tourism market with an estimated 890,000 visitors in 2012. It is unsurprising, therefore, that there has been so much investment in road networks and railways in recent years.

However there has also been a great deal of investment in accommodation infrastructure, and a number of the largest hotel groups have been drawn to Ukraine, either forming partnerships with domestic companies, setting up franchises, or building their own hotels. For example, Intercontinental Hotels Group is reputed to be planning to open 15 hotels in Ukraine by 2029, while Wyndham Hotel Group is also expanding in Ukraine after signing an agreement with Ukrainian Hotels to build 15 Ramada Encore hotels over 10 years. Carlson Rezidor recently opened a Park Inn by Radisson Troyitska (franchise group) in Kiev, while Starwood Hotels & Resorts is opening the Sheraton Kyiv Olympiysky hotel in the capital this year, and earlier, in August 2012, Marriott International announced the opening of its first hotel in Ukraine.

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 http://www.fastmr.com 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:

- Kenya Tourism Report Q3 2013
- Thailand Tourism Report Q3 2013
- Chile Tourism Report Q3 2013
- United States Tourism Report Q3 2013
- Brazil Tourism Report Q3 2013
- Japan Tourism Report Q3 2013
- India Tourism Report Q3 2013
- China Tourism Report Q3 2013
- Mexico Tourism Report Q3 2013
- Costa Rica Tourism Report Q3 2013