Boston, MA -- (ReleaseWire) -- 01/24/2014 -- BMI View: BMI's Ukraine tourism report looks at a range of key market indicators, including the prospects for inbound and outbound travel, industry value, growth in the hotel sector and the expansion of tourism-related expenditure. With economic recovery in Europe gradually gaining ground, we expect growth across the board in the Ukrainian tourism market by 2017.
Inbound arrivals to Ukraine received a substantial boost in 2012, when the country co-hosted the UEFA European Championship with Poland. This high profile event raised the country's reputation and led to a range of improvements in both transport and accommodation infrastructure, much needed after years of neglect. We expect the growth in arrivals to continue throughout the forecast period, and by 2017 we expect some 30.6mn tourists to arrive in the country annually.
View Full Report Details and Table of Contents
Ukraine relies heavily on Central and Eastern Europe for tourist arrivals, and most tourists entering the country arrive by road and rail due to the extensive connections the country shares with its neighbours, including Russia. Similarly outbound travel is also primarily to countries in the region, and with the Ukrainian domestic economy showing gradual signs of improvement we expect outbound travel to reach close to 8mn in 2017. While a lot of travel is by rail, the number of air travel arrivals and departures is gradually increasing as airport facilities are expanded.
While the market offers a great deal of opportunity for investment, developers may be deterred by the vague regulatory framework and lack of judicial enforcement, which remain the key risks to foreign participation in the economy. Meanwhile, a shift away from the EU in favour of Russia could have a negative impact on the longer-term investment environment.
Key BMI Forecasts
- Total arrivals are forecast to grow by 8.84% in 2013, reaching 25mn and increasing to over 30.6mn in 2017.
- In 2013 24.2mn arrivals will be from Europe, by far the largest regional market for the Ukrainian tourism sector and increasing to more than 29.5mn in 2017.
- To cater for this increase, hotel numbers are forecast to increase by 0.94% in 2013, reaching 3,530, increasing further by 2017 to reach 4,320.
- Ukraine has been given a tourism risk reward rating of 45.94 out of 100, placing it in 22nd place out of 25 countries in Central and Eastern Europe.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports:
- Oman Tourism Report Q1 2014
- Egypt Tourism Report Q1 2014
- Brazil Tourism Report Q1 2014
- Chile Tourism Report Q1 2014
- Japan Tourism Report Q1 2014
- Russia Tourism Report Q1 2014
- Costa Rica Tourism Report Q1 2014
- Thailand Tourism Report Q1 2014
- Kenya Tourism Report Q1 2014
- Vietnam Tourism Report Q1 2014