|
|
 |
|
Viewing report
|
|
|
|
Romania Tourism Report Q4 2011
Business Monitor International, Sep 2011, Pages: 57
Romania Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Romania's tourism industry.
Tourism Overview
After the downturn in the tourism sector looked to have almost bottomed out in 2010 with only a modest annual decline in arrivals of 1%, latest data, which include same-day visitors, continue to remain weak. Provisional customs data for the first half of 2011 show a marginal fall of 0.5% year-on-year (y-o-y) in foreign arrivals. Just less than 60% of total arrivals were from the EU, out of which the key source markets were (in order of importance): Hungary (37% of the total), Bulgaria (19%), Germany (9%), Italy (8%), Austria (4%) and Poland (4%). According to the same data source, Romanian resident departures abroad fell by 0.6% y-o-y in H111 (after an annual 7% fall in 2010).
Hospitality
Signs of recovery in the hospitality sector, evident in the final months of 2010, have continued into 2011. The most recent provisional data for H111 record a modest pick-up, driven by a solid performance by foreign tourism. The total number of tourist nights in all accommodation establishments rose just more than 4% compared with H110, with nights by foreign tourists increasing 10% y-o-y (overnight stays by foreign visitors accounted for almost 21% of the total). Domestic tourist nights, however, rose by a much weaker 2.8% y-o-y. In June, foreign tourist overnight stays were also up relatively strongly, at nearly 13% y-o-y, although growth in nights by domestic tourists was largely flat.
Forecast Scenario
In line with disappointing data on foreign arrivals for H1, we have revised down annual growth forecast for 2011 to around 3% from 5% last quarter (although data for the hospitality sector are likely be to more favourable). Growth in arrivals should pick up slightly in 2012, however. The forecasts are underpinned by steady growth in the major source region, the eurozone, in 2011 of 2.1%, with growth slowing marginally in 2012. German economic growth, however, is expected to slow over the same period, from 3.5% to 2.0%. In Hungary, a key source market, relatively strong economic recovery is anticipated in 2011 and 2012, with growth of around 3.0% in both years. Forecast for an appreciation trend of the leu against the euro in both 2011 and 2012 is likely to dampen growth in foreign tourism.
Tarom
Financial results for 2010 for the national flag carrier in Romania Tarom show total revenue of US$407mn, up favourably on the previous year. But the company recorded a widening loss, to US$105mn, which was partly due to a sharp rise of 29% y-o-y in fuel costs and the negative impact of the volcanic eruption in Iceland in April 2010. On the positive side, Tarom reported a robust annual increase in passenger numbers of 23.6% compared with 2009, to nearly 2.2mn customers. The airline also stated that its market share reached more than 22% in 2010 from 19.7% in the previous year.
Carpatair
During the summer season 2011, Romanian airline Carpatair introduced additional frequencies on direct flights between Timisoara and Athens. It also commenced direct flights between Constanta and Istanbul (Atatürk) in June.
Danubius Hotels Group
Figures for Q111 for Hungary’s Danubius Hotels Group show a relatively favourable 9% increase in revenue for Romanian hotels (in Hungarian forint terms), compared with the same period in 2010, while the loss before tax narrowed slightly (the average HUF/RON exchange rate in Q111 was little changed year-on-year). The total number of guests was up nearly 15% y-o-y, with hotel occupancy rising well in Q1.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
