Boston, MA -- (ReleaseWire) -- 06/05/2014 -- BMI View: BMI expects slow but steady growth in the Romanian tourism market, with economic recovery in Western as well as Central and Eastern Europe indicating a gradual increase in inbound travel throughout our forecast period to 2018. Domestic economic growth is also expected to pick up, leading to slow but steady growth in the number of outbound travellers.
The expected growth in inbound and outbound travel is dependent on continuing economic growth in Europe, with Romania's inbound arrivals market dominated entirely by countries from within the region. Germany, Hungary and Bulgaria are particularly important source markets, and any return to the conditions seen in the global credit crunch would have an impact on arrivals to Romania. Currently the future is looking positive, and we expect arrivals to increase from 8.2mn in 2013 to 10.6mn in 2018, offering potential investors a substantial investment opportunity.
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Alongside the expected increase in inbound arrivals, the gradual improvements in Romania's economy mean we also forecast an increase in the overall number of outbound travellers. GDP growth is expected to reach around 3% a year, and with this we expect to see a boost in private financial consumption, so that by 2018 the number of annual outbound travellers is forecast to reach 8.7mn.
Tourism is supported by the country's relatively well developed air and rail transport links, with particularly good links to Romania's closest neighbours and most important source markets. In the longer term, tourism would benefit from an expansion of long-haul travel capacity, in order to broaden source markets and lessen the reliance on Europe.
Investors are attracted to Romania as it is relatively underdeveloped, particularly along the attractive coastline, where there are many affordable real estate opportunities. With slow but steady growth expected in inbound and domestic travel we forecast an overall increase in the number of hotels in the country by the end of...
The Romania Tourism Report has been researched at source and features Business Monitor International (BMI)'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 Romania Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Romanian tourism industry.
- Benchmark BMI's independent tourism industry forecasts for Romania to test other views - a key input for successful budgetary and planning in the Romanian tourism market.
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