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Romania Tourism Report Q4 2009Published by: Business Monitor International Published: Sep. 1, 2009 - 51 Pages Table of Contents
AbstractTourism OverviewFollowing a relatively strong increase in foreign visitor arrivals of about 15% year-on-year (y-o-y) in2008 to around 8.9mn, latest data for the first five months of 2009 show a sharp deterioration in thenumber of foreign visitors, with the number of arrivals down by just over 13% compared with the sameperiod a year earlier. Over the same five-month period, just over 95% of all visitor arrivals were fromEuropean countries, while nearly 65% of arrivals originated from the EU. With regard to outboundtourism in 2008, BMI estimates that growth in Romanian tourist departures abroad slowed but remainedfavourable at 18% y-o-y, to nearly 5mn tourists. According to Romanian customs data, in the periodJanuary to May this year, there was a 2% decline in Romanian visitors abroad, while for the year as awhole, we forecast a much larger decline in tourist departures (a narrower definition). Hospitality Last year, the hospitality sector recorded a poor performance, particularly for foreign visitors. The mostrecent data, meanwhile, for the period January to May 2009, show an ongoing deterioration in the sector.Tourism nights (foreign and domestic tourists) over this period, in all accommodation establishments,were down 20% y-o-y, of which foreign tourist nights fell by 24% compared with the corresponding fivemonths in 2008. During the same period, foreign visitor arrivals in collective accommodationestablishments also declined by 18% y-o-y. Forecast Scenario This quarter, BMI has revised down its negative annual growth forecast for foreign visitor arrivals in2009 to -15% (we had previously anticipated a decline of at least 10% y-o-y). The worsening outlook isdue to additional gloomy data for arrivals so far in 2009 and further downward revisions to real GDPgrowth in the eurozone - the major source of visitors to Romania - along with our continuing forecast ofa deep recession in Hungary in 2009 (and only modest recovery in 2011). A slight pick up in foreignvisitor arrivals is anticipated in 2010, however, while over the remainder of the forecast period to 2013,the outlook for further increases in arrivals remains relatively favourable. Tarom After recording sharp negative growth in passenger traffic at the end of last year, the national flag carrier,Tarom, continued to report poor passenger traffic numbers in the early months of 2009, with numbersdown by 14% in the first five-month period of the year. Get Full Details About This Report >> |
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