New Consumer Goods research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Mon Jan 12 2015] With Greece estimated to have finally returned to economic growth in 2014, the outlook for 2015-2018 is looking relatively positive, especially as tourist arrivals are set to increase healthily over this period, drawn by low prices and an established product. However, lower prices make investment in the industry less attractive in the short term and the possible introduction of higher hotel rates in 2015 will further squeeze profitability for international investors.
Greece's wealth of natural, archaeological and cultural attractions have made it one of Europe's most popular destinations for decades. The flow of tourists was reduced abruptly as a result of the political unrest relating to two consecutive EU bailouts and austerity programmes as recently as 2012. However, with political and economy stability in Greece finally re-establishing themselves, BMI expects to see an upsurge in tourist arrivals between 2015 and 2018 of around 5% y-o-y. We forecast that arrivals will surpass pre-crisis levels, nearing 20mn by 2018. This will be encouraged by relatively low costs in Greece as the domestic economy remains weak, a trend that could potentially lead to increased investment in the tourism sector as land prices and labour costs remain relatively low.
However, stubbornly high unemployment and sluggish domestic economic performance will mean that outbound travel will remain relatively static over the same period, though there could be some pick-up in departures in 2018 depending on the progress of the national economy and the unemployment rate in particular.
Russian arrivals figures have been hampered by the escalating tensions between the EU and Russia over the crisis in Ukraine in 2014. This trend could well continue depending on the development of the political situation, however we expect to see a slow recovery in Russian arrivals from 2015 onwards, though by 2018 Russian tourists in Greece will still number far fewer than in 2013.
Greece's travel infrastructure is...
The Greece 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 Greece Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Greek tourism industry.
Key Benefits
* Benchmark BMI's independent tourism industry forecasts for Greece to test other views - a key input for successful budgetary and planning in the Greek tourism market.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
