2013-02-26 01:34:55 - Recently published research from Business Monitor International, "United Kingdom Tourism Report Q2 2013", is now available at Fast Market Research
This quarter BMI has revised and restructured its tourism reports, incorporating a greater range of data and focusing on the hotel industry, the value of the tourism industry itself, and the impact of macroeconomic factors.
BMI's United Kingdom Tourism Report discusses the impact of ongoing economic uncertainty in Europe on the UK's domestic tourism industry, together with analysis of the effects of this on inbound tourism and outbound tourism. The report also examines the investment potential which the United Kingdom offers to large tourist industries - particularly global hotel groups.
The UK's tourism industry performed strongly in 2012. According to figures from Visit Britain, a total of 30.9mn tourists visited the UK over the 12-month period ended November 2012. For the full
year, BMI believes that some 31.4mn tourists are estimated to have visited the UK, while in 2013 the number is forecast to fall slightly, to 31.3mn. This will reflect the fact that tourist numbers might decline following the end of the special events that boosted tourist arrivals over 2012, such as the Olympic Games and Diamond Jubilee. For the remainder of our forecast period, which runs through to 2017, BMI forecasts tourist arrival numbers to increase to 32.93mn.
Full Report Details at
- www.fastmr.com/prod/541194_united_kingdom_tourism_report_q2_2013 ..
The same 'hangover' effect may is also likely to undermine the UK's hotel industry over the short term. However, over the forecast period, BMI forecasts that a further 400 hotels and other accommodation establishments will open across the forecast period to 2017.
The UK is also due to host two major international sporting events over the coming years, the 2014 Commonwealth Games in Glasgow and the 2015 Rugby World Cup (at various locations around the nation). These events are likely to result in large numbers of participants and spectators travelling to the United Kingdom.
An overview of the UK's top 10 tourism markets highlights the fact that Europe remains the UK's main source of tourism, despite the continuing economic uncertainty. Eight out of the top 10 markets are European, with the other two countries in the top 10 being the USA and Australia, both English-speaking nations with longstanding links to the UK.
After a period of significant infrastructure development and hotel-building activity in the run-up to the 2012 Olympic Games, the scene may now be set for more modest overall growth in the UK's hotel industry.
However, some hotel groups are continuing significant expansion plans:
* The UK's largest hotel chain Premier Inn, owned by Whitbread, is targeting an additional 15,000 rooms between now and 2016. This will underline Premier Inn's position as the largest hotel chain in the UK.
* Fellow national chain Travelodge is also making aggressive expansion plans, aiming to double the number of rooms it has in the UK to 70,000 over the next 10 years.
* Luxury chain Shangri-la is also opening its first London property in 2013 The 195-room (including 25 suites) Shangri-La London will be located within London's tallest building, The Shard.
* BMI believes that outbound air traffic will continue to increase, rising by 11% over the end-2012 to end-2017 period. To meet this rising demand for air travel, the UK is currently investing heavily in its airport infrastructure, with major redevelopment projects currently ongoing at Aberdeen, Bristol, Edinburgh, Leeds Bradford and Stansted airports. Heathrow Airport is also experiencing major upgrade work, although for now a controversial third runway is off the table.
* This quarter, BMI has given the United Kingdom an overall Tourism Industry Risk/Reward rating of 63.8, placing it in sixth position within the Western Europe region, behind Luxembourg and ahead of Spain.
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
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