Hungary holds great promise for European tourism

Published on : Thursday, January 12, 2017

European Tourism IndustrySince 2010, global tourism is growing every year. If all things go well, this growth trend will continue in 2017 as well. And this could bring good news for the Hungarian tourism sector. Recently, Hungarian news site Portfolio studied the country’s place in global tourism market and opportunities coming its way in the future. To quote Attila Hegedűs, director of hotel and real estate consulting firm BDO Hungary, “Of all the factors that impact the tourism industry, the only one that could turn back [the sector’s] advancement in the long term would be an economic crisis. For this reason, tourism is like a rubber ball: it is capable of bouncing back even after a drastic fall, and that is exactly what we are seeing now.”

 

According to current international economic trends, Europe has good chances of growth in at least 5-6 years, and if any sort of recession occurs, that would affect tourism. Now travel isn’t limited to select few, but open to all, due to various factors and flurry of online travel sites like Travelocity, Expedia, and Orbitz and also due to popularity of Airbnb and other space sharing sites. Travel has also picked up due to expansion of budget airlines like Ryanair and Wizz Air.

 

According to the UNWTO, travel has expanded greatly since the middle of the 20th century. 1.4 billion tourists are expected annually by 2020, and that number is predicted to grow to 1.8 billion by 2030. Of the 1.4 billion tourists worldwide in 2015, approximately 600 million visited Europe, while the world’s other largest tourism region was Asia and the Pacific. These factors assure that 2017 would be a great year for Hungary’s tourism as well. In the first 10 months of 2016, the number of tourists visiting Hungary totalled over 24 million, a 5.9% increase over the previous year.

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