Boston, MA -- (ReleaseWire) -- 06/12/2014 -- The share of trips of 0-3 days of number of trips in departures increased in 2012 to 49%. This increase was supported by the increasing accessibility of outbound destinations due to the activities of low cost carriers and the variety of last minute and "pre-season" holiday offers from travel retailers. In 2012 there was increased preference among Hungarian consumers to book outbound holidays well in advance in order to benefit from the discounts offered by low cost carriers and travel retailers. The trend of last minute purchases of outbound holiday packages continued to grow in 2012 due to the inability of many Hungarians to plan their trips in advance as a result of their strict employment conditions.
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Departures is expected to register growth in number of trips at a CAGR of 2% over the forecast period, compared to the decline, at a CAGR of 3%, witnessed over the review period. Hungarians are expected to travel more often outside of the country but for a shorter duration. Long weekend trips and city breaks are expected to become more popular due to the availability of low cost flights to various destinations such as London, Paris, Rome and Barcelona among other cities. Outgoing tourist expenditure is expected to grow by a CAGR of only 1% in constant retail value terms over the forecast period due partly to the increasing share of 0-3 day trips, of number of trips in departures.
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