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Slovenia Tourism Report 2009
Business Monitor International, Oct 2009, Pages: 42
The Slovenia Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Slovenia's tourism industry.
Tourism Overview Figures from the Slovenian Tourist Board (STB) showed that 1.77mn foreign tourists visited Slovenia over the course of 2008. The most important source market was Italy (376,135), followed by Germany (196,007) and Austria (195,195). These three countries account for over 40% of total visitors. Looking ahead, arrivals will fall by around 5% over 2009, as the global economic crisis bites. Beyond this point, there should be scope for a stronger recovery towards the end of our forecast period.
Spotlight On Adria Airways:
In 2008, Slovenia’s national carrier, Adria Airways, carried 1.3mn passengers, an increase of 14% yearon- year (y-o-y). This year has been more challenging, with the airline only carrying 503,438 passengers in the first six months, a decline of 16% y-o-y. However, Adria Airways attributed this to a higher than expected base of comparison, as Slovenia held the presidency of the EU during the first six months of 2008.
This year has also changed the cost dynamic. Whereas EU officials had been travelling in business class in 2008, 2009 has seen an increase in economy passengers, who generate less revenue for the airline. Bearing this in mind, the airline’s management has revised down its expectations for 2009, believing that revenues may come in up to 15% below forecast and earnings before interest and tax (EBIT) will actually be -EUR3.2mn. That said, the airline is confident it can stave off insolvency.
Tough Times For Hit:
In December 2008, Slovene casino operator Hit announced that some form of staff retrenchment would be inevitable, given current market conditions. Although visitor numbers were up by 0.3% during the first 10 months of the year, to 1.36mn, the amount of money being spent per guest was down sharply. Revenues were down by 11% on the same period last year.
Hit has called on the government to cut the taxes levied on gaming in order to help it weather the economic slowdown.
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