2013-12-08 04:08:28 - Fast Market Research recommends "Croatia Tourism Report Q1 2014" from Business Monitor International, now available
BMI is forecasting steady growth across all key market indicators for tourism in Croatia. Recovery from the economic downturn in Europe is gathering pace, leading to an increase in inbound arrivals from major markets, and while the relatively limited GDP growth means increases in outbound travel is slow we do see a very positive long term investment environment present in the country.
The global credit crisis impacted heavily on inbound tourism to Croatia, with arrivals declining by 2.4% in 2010 to a low of 9.1mn. Now that major markets within Europe are improving, including the top four countries for arrivals, Germany, Slovenia, Italy and Austria, we expect to see annual growth of around 5% throughout our forecast period. By 2017 we
therefore expect arrivals to reach 13.3mn, impressive compared to the 2013 figure of 10.3mn. This is largely dependent on the continuing economic recovery of the EU as a whole.
Full Report Details at
Outbound travel is looking slightly less positive, but still strong, with slow and steady increases expected year on year. The number of travellers leaving Croatia saw a decline in 2011 of 5.19% as the economic crisis took hold in the country. As the economy has improved outbound travel figures have recovered, and by 2017 we expect the number of travellers to reach 2.3mn, an increase of around 400,000 on the 2013 figure.
Tourism receives a great deal of support from the Croatian government. Investment in the country's infrastructure will be key to the long term future of tourism, as the market suffers from a dearth of modern hotel accommodation, particularly in rural areas. The government has plans in place to add some 60,000 new hotel beds by 2020, but this is largely dependent on solid domestic economic growth and support for international investors.
* Major new resorts on the islands of Pasman and Ugljan are under development, which once complete will offer over 6,000 new hotel beds by 2020 years based on investment of over EUR 140mn.
* Several of the global top 10 hotel chains have a presence in Croatia, with the Hilton group in particular planning to expand, reflecting the growing popularity of Croatia.
* This quarter, BMI has given Croatia an overall Tourism Industry Risk/Reward Rating of 48.70, putting it in 18th place within the CEE region, behind Kosovo and ahead of Bosnia-Herzegovina.
* Outbound and inbound travel is expected to increase throughout the forecast period, based on improvements on economies from within the EU.
* Key events in 2014 include the Festival of Flowers, the Zagreb International Folk Festival, the MaFest comic book festival, the Croatia Open ATP tennis tournament and a variety of international music and cultural events.
Report Table of Contents:
BMI Industry View
- Business Environment
- Inbound Tourism
- Table: Croatia Inbound Tourism 2010-2017
- Table: Croatia Inbound Tourism, Top 10 Markets By Arrivals, 2010-2017
- Outbound Travel
- Table: Croatia Outbound Tourism, 2010-2017
- Table: Croatia Outbound Tourism, Top 10 Destinations By Departures, 2010-2017 ('000)
- Table: Croatia International Tourism Receipts For Transport And Travel, 2010-2017
- Table: Croatia Methods Of Tourist Travel, 2010-2017
- Table: Croatia Hotel Accommodation, 2010-2017
- Table: Hotels And Restaurants Industry Value, 2010-2017
Industry Risk Reward Ratings
- Industry Risk/Reward Ratings
- Table: Central And Eastern Europe, Risk/Reward Ratings
- Security Risk Rating
- Table: CEE Security Risk/Reward Ratings
- Table: Croatia Infrastructure Projects
- Table: Global Hotel Group Presence in Croatia
- Adris Group
Global Industry Overview
- Table: Global overnight stays and average length of stay, 2010-2017
- Table: Hotel Indicators, 2010-2017
- Table: Global Assumptions
- Table: Global And Regional Real GDP Growth, % chg y-o-y
- Developed States
- Table: Developed States, Real GDP Growth Forecasts
- Emerging Markets
- Table: Emerging Markets, Real GDP Growth Forecasts
- Table: BMI Versus Bloomberg Consensus Real GDP Growth Forecasts (%)
- Table: Croatia's Population By Age Group, 1990-2020 ('000)
- Table: Croatia's Population By Age Group, 1990-2020 (% of total)
- Table: Croatia's Key Population Ratios, 1990-2020
- Table: Croatia's Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Tourism Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators
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