"Hungary Tourism Report Q1 2014" Published

From: Fast Market Research, Inc.
Published: Fri Dec 20 2013


BMI's Hungary tourism report looks at the substantial long term growth expected across all key market indicators in this vibrant Central and Eastern European country. Inbound travel is expected to increase throughout our forecast period, with even stronger growth expected in outbound travel all factors point towards a very positive investment environment.

Hungary is a well established tourist destination, with the capital city Budapest one of the most enduringly popular destinations in the world, certainly the most popular in Central and Eastern Europe Although inbound travel was affected by the global economic crisis, signs are now all pointing not just towards recovery but growth, particularly from key markets such as Germany.

As well as higher rates of inbound travel, a more positive domestic economy will provide a boost to outbound travel, with Hungary expected to return to GDP growth in 2013. The improved GDP, lower unemployment and increased private financial consumption are all leading to growth as high as 8% a year in the number of tourists from Hungary. This growth in outbound, and indeed inbound travel is, of course, dependent on the economies of countries within the eurozone continuing to show signs of improvement.

Full Report Details at
- http://www.fastmr.com/prod/723577_hungary_tourism_report_q1_2014.aspx?afid=303

A key concern for Hungary is the expansion of tourist attractions outside Budapest, which has long been marketed as a short-break destination. Budapest is one of the most popular tourist attractions in Europe, with millions of visitors every year. However the country does have more attractions, including the historical town of Visegrad, several UNESCO World Heritage sites and the Mecsek Mountains, and the government is keen to extend the benefits of tourism spending to these regions through a range of investments and marketing programmes.

The development of domestic transport infrastructure is vital to the expansion of the tourism market, with a particular emphasis of extending the rail network to key areas like Lake Balaton. International rail connections are well developed with good links to the rest of Europe, which is vital as Hungary's key source markets are centred around its immediate neighbours. Hungary also has several airports served both by major carriers and by low-cost budget airlines providing wider ranging connections. The road network is also well developed and a range of accommodations are available, so Hungary is well placed to extend tourism outside of Budapest.

* Thanks to a positive domestic economy and long-term growth in inbound travel we expect the number of hotels in Hungary to increase steadily throughout the forecast period to 2017. Groups such as Starwood are planning to expand in the market.
* Infrastructure investment continues, and the international airport at Budapest is subject to improvement works, with several infrastructure improvement projects including expansion of the country's rail network also underway.

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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.

You may also be interested in these related reports:

- Japan Tourism Report Q1 2014
- Czech Republic Tourism Report Q1 2014
- United Kingdom Tourism Report Q1 2014
- India Tourism Report Q1 2014
- New Zealand Tourism Report Q1 2014
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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