Newly released market study: Travel and Tourism in Denmark to 2019

The Danish inbound tourism market has hardly registered any growth over the last few years due to a lack of competitiveness compared to its neighbors. However, Canadean expects international arrivals to grow at a CAGR of 4.7% during 2015-2019, partly driven by promotional efforts being made to attract tourists from unconventional markets such as China and South Korea. Furthermore, Value Added Tax (VAT) has been 100% exempt on hotel stays for business events such as conferences, meetings, and seminars since January 2015.

Key Findings

* There was minimal growth in domestic tourism during the historic period (2009-2014), increasing from 23.7 million in 2009 to 24.8 million in 2014. There was also slow growth in inbound tourism due to high prices (30% higher when compared to its neighbor Germany) despite facilities (such as accommodation, food, and museum entry fees) not being on par. According to the competitiveness report by World Economic Forum (WEF) on Travel and Tourism, released in May 2015, Denmark has been ranked twenty-seventh for tourism, which is drastically lower than its sixteenth rank in the 2011 index. However, appreciable growth was registered for outbound trips, increasing from 6.2 million in 2009 to 8.4 million in 2014. The hosting of international sports events such as the European Badminton Championships in 2017 and the Men's Handball World Cup tournament in 2019 is expected to benefit inbound tourism. The Danish Government is planning to promote coastal tourism in Denmark, encouraging development on protected shores at the commercial level. It allocated DKK20 million (US$3.6 million) in 2014 to develop tourism in nature areas and along the coasts
* Several new flights on international routes have been announced by carriers from Copenhagen. The low cost carrier, Norwegian Air Shuttle (Norwegian), plans to launch flights on seven new long routes for budget business and leisure travelers. Similarly, Scandinavian Airlines (SAS) also plans to operate flights to Boston to fulfill the demand created by the business segment of Danish air passengers. New routes were also launched to Los Angeles and Miami as Danish tourists are willing to travel to these destinations looking for sun and warmth
* Value Added Tax (VAT) exemptions of 100% on hotel stays have been granted to tourists arriving for business purposes such as conferences, meetings, and seminars. It was launched on January 1, 2015 and has reduced the cost to tourists by approximately 6.3%. This will make Denmark more competitive for hosting international business events, which will attract more tourists

Full Report Details at
- http://www.fastmr.com/prod/1077153_travel_tourism_denmark_2019.aspx?afid=301

Synopsis
Canadean's report -Travel and Tourism in Denmark to 2019 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

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