New Market Report Now Available: Hungary Tourism Report Q3 2014

Overall, BMI believes that the future is looking very positive for tourism in Hungary, with increasing economic stability in the EU helping to boost inbound tourism arrivals, while domestic growth is paving the way for an increase in the volume of outbound tourism. Hotel developers are also keen to expand in this market, not just in Budapest but also in more remote areas where there is a great deal of potential for expansion of tourism.

Hungary's inbound tourism market is dominated by countries from within Europe. The industry is therefore largely dependent on the economic strength of Europe, in particular key source markets such as Germany. Any return to a recession could result in a decline in tourism to Hungary, as demonstrated by the 2008 credit crunch, which impacted heavily on arrivals. Growth has returned to positive territory, and in 2013 arrivals reached 10.7mn, up from 10.4mn in 2012. From 2014, we expect to see more positive annual growth, with arrivals forecast to reach 13.0mn in 2018. Moving forward, Hungary would do well to diversify its source markets in order to lessen its reliance on the health of the European economy.

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As with inbound travel, Hungary's outbound travel market is dominated by countries in Europe thanks to the multitude of travel connections and the relative affordability of travel, particularly to Hungary's immediate neighbours. As Hungary sees gradual domestic economic improvements, we expect to see slow but steady growth in the number of outbound travellers, increasing from 5.8m in 2013 to a forecast 7.4mn in 2018.

Hungary has a range of attractions to offer tourists. Currently, the industry is focused on the capital, Budapest, which has long been established as one of the world's most popular tourist destinations. Budapest receives millions of visitors per year thanks to its rich historical and cultural heritage. However, Hungary has a lot to attract tourists outside of the capital as well, including the historical town of...

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.

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