Taiwan Tourism Report Q2 2016
BMI View: The outlook is bright for Taiwan's growing tourism industry. Connectivity and accessibilitycontinues to improve, while wide-reaching marketing campaigns are raising awareness of the country'sattractions in a highly competitive region. We expect international visitor figures to continue to risethroughout the forecast period between 2016 and 2020, supporting steady growth in tourism relatedexpenditure and hotel industry value. Along with a healthy domestic tourism market, the growth ininternational arrivals will encourage further investment in Taiwan's hotel sector, with new developmentstaking place both within the capital and in less explored regions.
Key Updates And Forecasts
Tourism arrivals are under pressure from main source market China. The Chinese government hasreportedly implemented more restrictive quotas on travel to Taiwan following the February elections andTaiwan media reports indicate arrivals from China are down around 40% while around 80% of packagetours have been suspended. It is unclear how long travel will be restricted.
Taiwan is keen to develop cruise ship tourism. In February 2016 the Taiwan Tourism Bureau announcedthe launch of subsidies to encourage cruise tourism growth, including financial grants for overseas shipsas well as planning and administration support.
Overall, we expect Taiwan's tourism market to grow steadily, with arrivals increasing by an average of6.8% annually over the forecast period, from 10.9mn arrivals in 2016 to 14.6mn arrivals in 2020.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook