Business Monitor International


Hungary Tourism Report

Published 11 February 2014

  • 59 pages
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$1,295.00
Hungary Tourism Report

Inbound travel to Hungary is largely dependent on the economic strength of key source markets in Europe; as such, we saw little growth in 2012. More positive figures were seen in 2013, with arrivals reaching 10.7mn, up from 10.4mn in 2012. We expect growth in inbound arrivals to accelerate from 2014 to reach an annual arrivals figure of 13.0mn in 2018. Only one country from outside Europe makes it into the top 10 markets for arrivals to Hungary, and in the longer term, diversification would reduce Hungary's vulnerability to economic downturn among its neighbours.

European countries also dominate Hungary's outbound travel market, and with the country seeing a return to GDP growth in 2013, we expect to see healthy increases in terms of outbound travel throughout our forecast period. By 2018 we expect the number of outbound travellers to reach 7.4mn, a healthy potential market for developers.

Tourism to Hungary is largely focused on the capital, Budapest, which has long been established as one of the world's most enduringly popular tourist destinations. Budapest receives millions of visitors per year, but Hungary has much to offer outside of the capital, including the historical town of Visegrad, several UNESCO World Heritage sites, and the Mecsek mountains. Expansion of tourism to more rural areas would bring the benefit of both tourism spending and infrastructure investment to further corners of the country.

Infrastructure investment is vital to the long-term sustainability of the country's tourism market, particularly the expansion of the rail network to make areas such as Lake Balaton more accessible to visitors. Hungary receives a large volume of visitors via its road and rail connections with its neighbours, but more long-haul travel will require the expansion of air travel connections.

Overall, the future is looking very positive for Hungary's tourism market, with growth in inbound and outbound travel lending confidence to investors, particularly international...

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's Inbound Tourism, 2011-2018 ('000)
16
Table: Hungary's Inbound Tourism, Top 10 Markets By Arrivals, 2011-2018 ('000)
18
Outbound Tourism
18
Table: Hungary's Outbound Tourism, 2011-2018 ('000)
19
Table: Hungary's Outbound Tourism, Top 10 Destinations By Departure, 2011-2018
21
Travel
21
Table: Hungary's Receipts For Tourism And Travel, 2011-2018
22
Table: Hungary's Methods Of Travel, 2011-2018
23
Hotels
23
Table: Hungary's Hotels & Restaurants Industry Value, 2011-2018
24
Table: Hungary's Hotel Accommodation, 2011-2018
25
Industry Risk/Reward Ratings
27
Tourism Risk/Reward Ratings
27
Table: Central And Eastern Europe Tourism Risk/Reward Ratings
28
Security Risk/Reward Ratings
29
Table: Europe Security Risk Ratings
29
Market Overview
31
Table: Hungary Key Infrastructure Projects
32
Table: Global Top 10 Hotel Chains
33
Company Profile
36
Danubius Hotels Group
36
Global Industry Overview
38
Table: Hotel Water Consumption By Region (litres per guest per night)
40
Global Assumptions
44
Table: Global Assumptions, 2012-2018
45
Table: Global And Regional Real GDP Growth, 2012-2015 (% change y-o-y)
46
Developed States
47
Table: Developed States, Real GDP Growth Forecasts, 2012-2015
47
Emerging Markets
49
Table: Emerging Markets, Real GDP Growth Forecasts, 2012-2015
49
Table: BMI Versus Bloomberg Consensus Real GDP Growth Forecasts, 2013 And 2014 (%)
51
Demographic Forecast
52
Table: Hungary's Population By Age Group, 1990-2020 ('000)
53
Table: Hungary's Population By Age Group, 1990-2020 (% of total)
54
Table: Hungary's Key Population Ratios, 1990-2020
55
Table: Hungary's Rural And Urban Population, 1990-2020
55
Methodology
56
Industry Forecast Methodology
56
Risk/Reward Ratings Methodology
57
Table: Weighting Of Indicators
59

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-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

Inbound tourism: Arrivals (‘000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).

Outbound tourism: Departures (‘000), growth (% y-o-y), departures by regional destination (‘000 and growth % y-o-y).

Travel: Methods of travel for arrivals (Air, Ship, Rail), (‘000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).

Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (‘000), (growth % y-o-y), total overnight stays, (‘000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (‘000), (growth % y-o-y).

Industry Risk Reward Ratings

BMI’s Tourism Industry Risk Reward Ratings provide a country-comparative Risk Reward Ratings index aimed at investors (tour operators, tourism infrastructure investors, financial institutions) in the regional tourism market.

The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

We also have Security Risk Reward Ratings which provide a detailed assessment of possible threats to the country (and by extenuation to the tourism industry), ranging from economic and political upheaval, to terrorist attacks and organised crime levels.

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.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape.

The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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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