Travel and Tourism in Hungary to 2017

Travel and Tourism in Hungary to 2017
by
Timetric

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The Hungarian travel and tourism sector suffered due to the financial crisis which
engulfed the country in 2009. Although the sector recovered in 2010?2011, the
country entered another recessionary phase in 2012. However, the government and
tourism promotion agencies have made continuous efforts to increase tourism
activity.
Scope
This report provides an extensive analysis related to the tourism demands and flows
in Hungary:
•- It details historical values for the Hungarian tourism sector for 2008-2012, along
with forecast figures for 2013-2017 .
-• It provides comprehensive analysis of travel and tourism demand factors, with
values for both the 2008-2012 review period and the 2013-2017 forecast period.
•- The report provides a detailed analysis and forecast of domestic, inbound and
outbound tourist flows in Hungary.
•- It provides comprehensive analysis of the trends in the airline, hotel, car rental
and travel intermediaries industries, with values for both the 2008-2012 review
period and the 2013-2017 forecast period.
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Key Highlights
• Hungary’s tourism sector is driven by international arrivals, with inbound tourism
expenditure standing at HUF1.2 trillion (US$5.2 billion) in 2012, compared with HUF868.2
billion (US$3.9 billion) from domestic travel.
• Health and wellness tourism holds an important place in the Hungarian tourism sector.
Of the total international arrivals to Hungary in 2012, 13.2% visited for health reasons.
According to the Tourism Ministry, six health resorts, Hévíz, Hajdúszoboszló, Bük,
Balatonfüred, Zalakaros and Sárvár, were among the 10 leading tourism destinations in
the country.
• The number of domestic trips declined from 18.1 million in 2008 to 14.8 million in 2009,
due to the financial crisis. Domestic tourist volumes rebounded in the following two
years, reaching 15.6 million in 2011, but as the country slipped into recession again in
2012, the number of domestic trips declined to 14.4 million.
• India has been recognized as a key emerging market by the Hungarian National Tourist
Office (HNTO). A total of 10,568 Indian tourists visited Hungary in 2012, totaling 28,714
guest nights in the same year. The aim is to increase this number by 15% over the next
two to three years by promoting Hungary’s meetings, incentives, conferences and
exhibitions (MICE), educational and leisure tourism offerings.
Complete report available @ http://www.rnrmarketresearch.com/travel-and-

tourism-in-hungary-to-2017-market-report.html .
+1 888 391 5441

Timetric estimates growth in outbound tourist volume over the forecast period at a
CAGR of 1.55%, with the total reaching 4.4 million in 2017, which is below the precrisis level of 5.1 million outbound trips in 2008. Outbound tourism expenditure is
also expected to rise from HUF656.5 billion (US$2.9 billion) in 2012 to HUF736.2
billion (US$3.3 billion) in 2017, at a forecast-period CAGR of 2.32%. The expected
improvement in economic conditions will strengthen consumer confidence and
support greater expenditure on travel and holidays, which will support the growth of
outbound travel.

• Timetric expects growth in the capacity of the Hungarian airline industry over the
forecast period, at a CAGR of 2.37%. The highest growth of 6.2% will be recorded in
2013 as the number of seats increased with the launch of Solyom Airways and
various new routes. LCCs will dominate the market as Wizz Air and Ryan Air have
launched several new routes to capture the void in supply created by the failure of
Malév.

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Following a weak performance, the outlook for Hungary’s hotel industry is positive.
Over the forecast period, Timetric expects total hotel revenue to increase at a CAGR
of 5.05% to reach HUF361.0 billion (US$1.6 billion) by 2017. Growth will be
supported by increase in the number of international arrivals and an increase in
expenditure by Szép cardholders.
• Considering the expected growth in business travelers over the forecast period,
Timetric expects the car rental market value in Hungary to increase slightly to reach
HUF5.9 billion (US$26.2 million) by 2017. The average revenue per day is also
expected to increase to HUF9,358.3 (US$41.6) in 2017, which is still below the precrisis level of HUF9,428.4 (US$54.8) recorded in 2008. Timetric expects that although
on a growth track, the Hungarian car rental industry is rising at a slow pace and will
not reach the pre-crisis level before 2015. The expansion of international brands into
the Hungarian market will increase competition.
• Traditional travel agencies generated 77.6% of sales in 2012. However, travelers
continued to swing from traditional channels of booking or planning, to online
booking. The market value of online travel booking has steadily grown, with the
online channel’s share of total market value increasing from 9.1% in 2008 to 22.4% in
2012.
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For more details contact Mr. Priyank Tiwari: sales@rnrmarketresearch.com /
+18883915441

RnR Market Research
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Travel and Tourism in Hungary to 2017

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Travel and Tourism in Hungary to 2017