Recently released market study: Czech Republic Tourism Report Q1 2014

Tourism in the Czech Republic suffered as a result of the economic downturn in Europe. However, arrivals have shown steady recovery and we expect to see solid increases in inbound tourism throughout the forecast period. Outbound tourism is expected to show slower but still sturdy growth through to 2017, with similar increases expected across other key market indicators.

Inbound arrivals are dominated by countries in Europe, which make up nine out of the top 10 markets; six from Western Europe (Germany, Italy, the UK, France, Spain and The Netherlands) and three from Central and Eastern Europe (Russia, Poland and Slovakia). With much of tourism reliant on European markets, the continued economic recovery of key markets is vital for the long-term viability of the Czech tourism sector, with the health of the German and Russian economies of particular importance. So long as economic recovery continues we expect inbound arrivals to reach close to 17mn in 2017.

Full Report Details at
- http://www.fastmr.com/prod/723558_czech_republic_tourism_report_q1_2014.aspx?afid=301

Outbound travel is also expected to increase throughout the forecast period, to reach 7mn in 2017, up from 6.2mn in 2013. As with inbound travel, outbound departures are dominated by countries in Europe. This reflects the Czech Republic's central location within Europe, with good air links and other transport links to both east and west.

Although there is currently little new investment in the airport infrastructure in the country due to limited financial resources, there have been a number of large projects in the rail and road sectors, reflecting the country's central location and the fact that a major portion of its tourists arrive via land rather than by air.

The hotel sector does offer substantial opportunity for growth, which has been recognised by many of the top global hotel chains, with several planning new hotels in the country in the next few years, including the American group Choice Hotels. The Central and Eastern Europe (CEE) region as a whole is currently perceived as offering extremely attractive investment opportunities for hotel groups and other tourist-related industries - largely due to rising domestic tourism as well as regional tourism, supported by an increase in higher disposable incomes.

Key Forecasts Include:

* BMI believes that the number of hotels and other accommodation establishments in the Czech Republic will continue to increase across our forecast period to 2017 to reach close to 5,000 properties.
* Outbound air traffic has increased over recent years. However, owing to continued economic uncertainty, and the poor showing in Q113 for the overall economy, we have reduced our outbound departures forecast for 2013, to 6.2mn.

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