Business Monitor International


Hungary Tourism Report

Published 19 November 2014

  • 53 pages
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$1,295.00
Hungary Tourism Report

BMI View: Hungary's tourism industry is expected to record positive growth over the 2015-2019 period, with solid expansion projected across a range of key market indicators. T ourist arrivals in particular are expected to experience strong growth. However, this growth will be highly depe ndent on the stability of the e urozone and key European source markets, on which Hungary relies for almost 90% of tourist arrivals.

We expect to see healthy growth in Hungary's tourism market over the 2015-2019 period, driven by solid domestic economic growth and an increasing proliferation of low-budget airlines that will influence travellers from countries such as the UK. Health tourism has been an area of specialisation, and Hungary is reaping the benefits of being well ahead of the pack in the region in terms of medical and spa tourism offerings. In terms of the accommodation market, there has not been as much concentration from the large hotel chains (with Accor recently selling 46 hotels in the region, and Intercontinental Hotel Group also selling a hotel in Budapest to UAE-based Al Habtoor Group), with larger markets being prioritised. As a result, domestic hoteliers dominate the market. The stable hotel base and expectations for positive, steady growth could offer a good return for a company willing to invest in the region.

Budapest dominates the country both economically and in terms of tourism, but there is a great deal more to the country, with tourists able to visit thermal baths, beautiful lakes and other attractive cities. The country has a great deal to offer, but the government needs to take the initiative to spread awareness of the rest of the country outside of Budapest, as well as invest in transport infrastructure (such as the modernisation of the rail network around Lake Balaton, a project started in 2013).

Joining the EU and being a member of the Schengen agreement has led to higher levels of investment and a reduction in the barriers to...

Table of Contents

BMI Industry View
7
SWOT
9
Tourism
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
15
Inbound Travel
16
Table: Hungary Inbound Tourism, 2011-2018
16
Table: Hungary Inbound Tourism, Top 10 Markets By Arrivals, 2011-2018 ('000)
18
Outbound Tourism
18
Table: Hungary Outbound Tourism, 2011-2018 ('000)
19
Table: Hungary Outbound Tourism, Top 10 Destinations By Departure, 2011-2018 ('000)
20
Travel
21
Table: Hungary Receipts For Tourism & Travel, 2011-2018
21
Table: Hungary Methods Of Travel, 2011-2018
22
Hotels
23
Table: Hungary Hotels & Restaurants Industry Value, 2011-2018
23
Table: Hungary Hotel Accommodation, 2011-2018
24
Industry Risk/Reward Ratings
26
Tourism Risk/Reward Ratings
26
Table: Central And Eastern Europe Tourism Risk/Reward Ratings
27
Security Risk/Reward Ratings
28
Table: Europe Security Risk Ratings
28
Market Overview
30
Table: Hungary Key Infrastructure Projects
31
Table: Global Top 10 Hotel Chains
32
Company Profile
35
Danubius Hotels Group
35
Global Industry Overview
37
Table: Global Arrivals
37
Table: Global Hotel Room Numbers
38
Global Assumptions
39
Table: Global Assumptions, 2013-2018
40
Table: Global And Regional Real GDP Growth, 2013-2016 (% change y-o-y)
41
Developed States
43
Table: Developed States, Real GDP Growth Forecasts, 2013-2016
43
Emerging Markets
45
Table: Emerging Markets, Real GDP Growth Forecasts, 2013-2016
46
Table: BMI Versus Bloomberg Consensus Real GDP Growth Forecasts, 2014 And 2015 (%)
47
Demographic Forecast
48
Table: Hungary's Population By Age Group, 1990-2020 ('000)
49
Table: Hungary's Population By Age Group, 1990-2020 (% of total)
50
Table: Hungary's Key Population Ratios, 1990-2020
51
Table: Hungary's Rural And Urban Population, 1990-2020
51
Methodology
52
Industry Forecast Methodology
52
Risk/Reward Ratings Methodology
53
Table: Weighting Of Indicators
55

The Hungary Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Hungary Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Hungarian tourism industry.

Key Benefits

  • Benchmark BMI's independent tourism industry forecasts for Hungary to test other views - a key input for successful budgetary and planning in the Hungarian tourism market.
  • Target business opportunities and risks in the Hungarian tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hungary.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).

Coverage

BMI Industry View

This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.

BMI Industry Forecast Scenario

Forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Inbound Tourism: Total arrivals (‘000 and growth % y-o-y), arrivals by region (‘000 and growth % y-o-y), arrivals by country (‘000 and growth % y-o-y), top 10 source countries for arrivals.
  • Outbound Tourism: Total departures (‘000 and growth % y-o-y), departures by regional destination (‘000 and growth % y-o-y), departures by country (‘000 and growth % y-o-y), top 10 destination countries.
  • Travel & Receipts: Methods of travel for arrivals (air, ship, rail) (‘000 and growth % y-o-y), international tourism receipts for transport (USDbn and growth % y-o-y), international tourism receipts for travel items (USDbn and growth % y-o-y).
  • Hotels: Hotel industry value (USDbn and growth % y-o-y), number of hotels (‘000 and growth % y-o-y), total overnight stays (‘000 and growth % y-o-y), length of stay, occupancy rate (%), number of total

BMI’s Tourism Risk Reward Index

BMI’s Risk Reward Indices provide investors (tour operators, tourism infrastructure investors, financial institutions) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards.

Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

Market Overview

This contains a comprehensive overview of the tourism industry in the country, its overall value, the value of its hotels industry, trends in the hotels industry and any new developments. It also contains an evaluation of the top 10 global hotel groups’ presence in the country, which brands are present in which cities, the number of hotels and any planned developments and strategies. The Market Overview also considers the tourism infrastructure developments in the country, in particular transport infrastructure projects such as ports and airports. Tables are also included from our regularly updated Key Projects Database, which contain details of projects, their value, the time frame, their current status, the companies involved and their estimated completion dates.

Competitive Landscape

This section provides insight into key domestic players in the hotel industry, discussing, for example, the number of hotels, brands, financial data, geographical spread, recent developments and strategies of individual companies.

Sources
The Tourism Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reprts instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc