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Slovenia Tourism Report 2009Published by: Business Monitor International Published: Oct. 1, 2009 - 42 Pages Table of Contents
AbstractTourism OverviewFigures from the Slovenian Tourist Board (STB) showed that 1.77mn foreign tourists visited Sloveniaover 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 thispoint, 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 passengersin the first six months, a decline of 16% y-o-y. However, Adria Airways attributed this to a higher thanexpected base of comparison, as Slovenia held the presidency of the EU during the first six months of2008. This year has also changed the cost dynamic. Whereas EU officials had been travelling in business classin 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 thatrevenues may come in up to 15% below forecast and earnings before interest and tax (EBIT) will actuallybe -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 wouldbe inevitable, given current market conditions. Although visitor numbers were up by 0.3% during the first10 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 theeconomic slowdown. Get Full Details About This Report >> |
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