Hungary has a well- developed tourism industry, particularly in the capital Budapest , which for a long time has been a popular short-break destination for visitors throughout Europe. We expect to see continued growth in international tourism arrivals to Hungary over the course of the forecast period from 2016 to 2020, supported by improving domestic and international transport connections and government investment in wide-reaching marketing campaigns. The country is heavily reliant upon European source markets, which does create vulnerability through over-exposure to potential regional declines, and as such we expect to see a focus over the longer term on expanding travel from source markets further afield, particularly affluent Asian and Middle Eastern markets.
Key Updates And Forecasts
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Hungary continues to expand the number of international flight connections, facilitating the expansion of the tourism arrivals market. In April 2016 Lufthansa launched its first flights on a new Munich-Debrecen route while Ryanair is also expanding its flights to and from the country. There are also reports that Emirates may soon launch non-stop flights from Budapest direct to the United States.
Hungary is also improving the process of applying for tourism visas for visitors from outside of Europe. In March 2016 the country opened a visa application centre in Bahrain and is reportedly considering introducing visa free travel for special and diplomatic passport holders from the country.
We are maintaining our current forecasts for a 4.2% increase in international tourism arrivals to Hungary in 2016, to a total of just over 12mn. Similar growth is expected over the remainder of the forecast period, providing a boost to tourism related expenditure and hotel industry value between 2016 and 2020.
The Hungary 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 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.
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.
Target business opportunities and risks in the Hungarian tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hungary.
Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
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"Hungary Tourism Report Q3 2016" Published
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