2012-07-24 01:28:16 - Romania Tourism Report Q3 2012 - a new market research report on companiesandmarkets.com
The Romania Tourism Report examines the long-term potential of the tourism sector, while highlighting short-term risks associated with the sharp slowdown in the eurozone â the major source region for inbound tourists. Overall, BMI forecasts slight negative annual growth in foreign arrivals in 2012, with a return to positive growth next year. Further modest recovery is anticipated over the latter part of the forecast period.
The report examines statistical data on the number of cross border foreign visitors by region and country (including same-day visitors), flagging the changing dynamics over recent years, with the relative importance of some traditional source markets showing signs of weakening. Domestic tourism by Romanian residents is also considered, which is an area offering considerable potential over
the longer term as Romanian per capita incomes rise.
The report also looks at the growth strategies being employed by key players in the Romanian tourism sector, particularly airlines, as opportunities emerge in a still nascent market. The collapse of MalÃ©v Hungarian Airlines, in February 2012, which offered numerous routes to Romania, also offers considerable opportunities for competitor airlines.
Customs figures for the period January-February this year record negative growth of 2.3% year-on-year (y-o-y) in foreign arrivals, which include figures for same-day visitors. Of note, there was a sharp fall of over 8% y-o-y in the number of visitors in February.
In the hospitality sector, growth rates slowed markedly in the first two months of the year, compared with that recorded over the same period in 2011 â an early indication of a downturn this year. Over the last quarter BMI have revised the following forecasts/views:
- BMI has revised down slightly the forecast for foreign visitors largely based on recent weak arrivals data. BMI has also made marginal changes to its eurozone and German economic growth forecasts â although with little impact on the tourism forecasts.
- The average Romanian leu exchange rate forecast for 2012 has been altered to RON4.3500/EUR, from RON4.4000/EUR previously. Overall though, the relatively weak leu remains supportive of the tourism sector.
- Outbound tourism forecasts have been edged down, in line with downward revisions to Romania´s real GDP growth forecasts.
- The expansion of Hungarian low-cost carrier Wizz Air continues apace with flights beginning from Arad International Airport to Milan-Bergamo in mid-2012 â which should boost business and leisure tourism. This is the fifth Romanian airport to operate Wizz Air flights, reinforcing the carrier´s position as the country´s largest airline.
- During summer 2012, the national flag carrier Tarom increased the frequency of flights on a number of routes from Bucharest: Amsterdam, Nice, Dubrovnik, Cluj-Napoca and Timisoara.
- Hungary´s Danubius Hotels Group performed well in Romania last year, largely due to significantly higher average room rates and guest numbers, although BMI´s tourism outlook suggests that these results may be difficult to improve on this year.The price of this market report covers 4 quarterly reports on this sector. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.
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