Market Report, "Ukraine Tourism Report Q4 2015", published

From: Fast Market Research, Inc.
Published: Mon Sep 28 2015

2014 proved to be a seriously damaging year for the Ukrainian tourism industry, with inbound arrivals and occupancy rates falling to unseen depths, putting high amounts of pressure on hoteliers in the country and the industry as a whole. While 2015 so far has been slightly better, it is unlikely that the industry will recover to pre-crisis levels by 2019, especially given that the Crimean Peninsula, which is now considered part of Russia, was one of Ukraine's leading tourism destinations. Ultimately the country represents a significantly higher risk for investors than other countries in the region.

With geopolitical tensions in the region still high, the risks facing Ukraine cannot be underestimated. Despite improved transport links, the travel industry in the country is likely to face a difficult five years, especially as the previously important Russian source market is unlikely to recover to levels seen in 2013, and there is not likely to be a compensating increase from other countries. In the long term, BMI expects stabilisation and even the beginnings of a recovery in the tourism sector, but this is dependent on stabilisation of the country as a whole.

Full Report Details at

Despite investment prior to the 2012 football European Championships in the country, the hotel stock in Ukraine is still in need of modernisation. International hotel groups have invested somewhat, but a weak local currency, combined with plummeting occupancy rates (especially for the luxury end of the market), have led to postponement or cancellations of projects across the board. Many have pushed back planned openings until 2016 in order to assess the geopolitical and economic conditions nearer to the time.

Key Forecasts

Total arrivals in 2015 are expected to decline by 8.8% to 11.3mn.
Outbound departures are expected to decline by 3.1% in 2015, to 3.0mn.

Romania will continue to be the most popular destination for Ukrainian tourists and will receive 0.9mn tourists from Ukraine by 2019.

The Ukraine Tourism Report has been researched at source and features BMI Research'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 Ukraine Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Ukrainian tourism industry.

Key Benefits

* Benchmark BMI's independent tourism industry forecasts for Ukraine to test other views - a key input for successful budgetary and planning in the Ukrainian tourism market.
* Target business opportunities and risks in the Ukrainian tourism sector

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