Croatia Tourism Report Q4 2014

Aug 12, 2014 - Business Monitor International - 55 pages
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Croatia's tourism market will continue to demonstrate strong growth as inbound travel increases, due to sustained growth in the major EU economies and the relaxation of travel restrictions to Croatia. The forecast period will also see increased investment in infrastructure and the tourism sector, with EU funds now readily available to the Czech government. The relatively low rate of growth we predict for the Croatian economy will have the effect of keeping prices low and further increasing inward travel and spending .

We expect to see year on year growth in inbound arrivals reach at least 5% over our forecast period to 2018, when arrivals will reach 14.1mn. This growth will be dependent on the economic health of key EU countries which provide the bulk of the Croatian tourism industry's supply markets. Outbound travel will also grow but this will be more modest, owing to a lack of disposable income as the country's economy fails to grow significantly. This sluggish growth will act as an upward pressure on tourist arrivals, as prices will remain low. We expect to see outbound tourism increase to Europe as EU membership loosens travel restrictions, from around 1.9mn departures in 2013 to 2.4mn in 2018.

Newly available EU funds will provide sorely needed investment in the country's transport infrastructure and E membership will see a boost in inward investment in the tourism sector, the country's largest industry. Furthermore, the country's rising reputation as a spectacular shooting location for television and film will increase its appeal to tourists even more. Challenges and opportunities lie in extending the value of the tourism sector beyond the traditional summer season, for example through culinary tourism.

Key forecasts and developments include:
  • Swiss company TFI Holding is investing EUR1.5bn in a large-scale tourism project in the town of Sibenik including hotels, villas and a marina as well as urban accommodation for 2,500 people
  • Major new...


The Croatia 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 Croatia Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Croatian tourism industry.

Key Benefits
  • Benchmark BMI's independent tourism industry forecasts for Croatia to test other views - a key input for successful budgetary and planning in the Croatian tourism market.
  • Target business opportunities and risks in the Croatian tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Croatia.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage

BMI Industry View

This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.

BMI Industry Forecast Scenario

Forecasts to end-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

Inbound tourism: Arrivals (‘000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).

Outbound tourism: Departures (‘000), growth (% y-o-y), departures by regional destination (‘000 and growth % y-o-y).

Travel: Methods of travel for arrivals (Air, Ship, Rail), (‘000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).

Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (‘000), (growth % y-o-y), total overnight stays, (‘000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (‘000), (growth % y-o-y).

Industry Risk Reward Rankings

BMI’s Tourism Industry Risk Reward Rankings provide a country-comparative Risk Reward Rankings index aimed at investors (tour operators, tourism infrastructure investors, financial institutions) in the regional tourism market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

We also have Security Risk Reward Rankings which provide a detailed assessment of possible threats to the country (and by extenuation to the tourism industry), ranging from economic and political upheaval, to terrorist attacks and organised crime levels.

Market Overview

This contains a comprehensive overview of the tourism industry in the country, its overall value, the value of its hotels industry, trends in the hotels industry and any new developments. It also contains an evaluation of the top 10 global hotel groups’ presence in the country, which brands are present in which cities, the number of hotels and any planned developments and strategies. The Market Overview also considers the tourism infrastructure developments in the country, in particular transport infrastructure projects such as ports and airports. Tables are also included from our regularly updated Key Projects Database, which contain details of projects, their value, the time frame, their current status, the companies involved and their estimated completion dates.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape.

The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.


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About the Publisher
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.