1. Market Research
  2. > Travel and Tourism
  3. > Tourism Market Trends

Travel and Tourism in Czech Republic to 2019

  • December 2014
  • 132 pages
  • GlobalData
Report ID: 2599448

Summary

Table of Contents

Search Inside

Summary
The travel and tourism sector witnessed strong growth in 2014, particularly in terms of inbound arrivals and inbound tourist expenditure. Inbound tourist arrivals grew by 7.1% in 2014, totalling 10.4 million while expenditure expanded by 7.5% reaching CZK130.3 billion (US$6.6 billion). Increase in arrivals from key source countries, particularly Germany and Italy, has been a key driver of this growth. With an improving economic scenario, arrivals from both, Germany and the Czech Republic increased by 8% in 2014 over the previous year.

Key Findings
The Czech government is increasingly prioritizing to move tourism beyond concentration in the capital, Prague, and increase the potential of undiscovered places in the country. Most significant source markets are Germany, Russia, Italy, the UK, the US, Slovakia, and Poland while demand is also increasing from remote markets, particularly China and South Korea. Inbound arrivals to the Czech Republic from China increased at a CAGR of 22.35% during the historic period while arrivals from South Korea expanded by 22.83%

2014 proved to be another successful year for the travel and tourism sector. The sector's contribution to GDP grew for the third consecutive year in 2014, helped especially by strong demand from international travelers. Direct tourism output totaled CZK229.2 billion (US$11.7 billion) in 2014, representing 5.7% of the GDP. Direct tourism employment as a percentage of total employment stood at 4.7% in 2014, with a total of 234,000 jobs in 2014

The government of the Czech Republic adopted “The State Tourism Policy Concept in the Czech Republic for the period of 2014-2020” in March 2013. The document prepared by the Ministry of Regional Development follows the “State Tourism Policy Concept in the Czech Republic for the period of 2007 - 2013”. The aim of the strategy is to enhance competitiveness of the entire tourism sector at national and regional levels, sustaining its economic performance and positive impact on socio-cultural and environmental development

After recording a decline for six years consecutively, the airlines market registered positive growth in 2014 as the economy showed signs of recovering. Revenues increased by 2.7% in 2014 totaling CZK25.4 billion (US$1.3 billion), but the overall growth during the historic period stood at a negative CAGR of -3.18% due to contraction in economy. Revenues also declined due to deteriorating performance of Czech Airlines as its expansion plains failed

With an improving property investment market and recovering tourist market, the hotel market is expanding and new brands are entering the Czech Republic. The country is seeing inbound tourists from new regions, such as Asia, who prefer hotel brands with which they are familiar in other markets. New brands that have entered in the market include Penta Hotels, Motel One, and BandB. Pental Hotels entered the market in 2013 while the remaining entered in 2014
As part of its ongoing expansion strategy in Europe, Enterprise Rent-A-Car entered the Czech Republic market in 2013 through a franchise business model. It selected Czechocar CZ Ltd as its franchise partner in the country. Founded in 1993, Czechocar has established itself as a leader in the Czech car rental market. The decision was taken in the light of growing tourism market in Czech, particularly in Prague

Synopsis
The report provides detailed market analysis, information, and insights, including:
 
- Historic and forecast tourist volumes covering the entire Czech Republic Travel and Tourism sector

- Detailed analysis of tourist spending patterns in the Czech Republic for various categories in the Travel and Tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries, and others

- Detailed market classification across each category, with analysis using similar metrics

- Detailed analysis of the airline, hotel, car rental, and travel intermediaries industries

Reasons to Buy
Make strategic business decisions using historic and forecast market data related to the Czech RepublicTravel and Tourism sector

Understand the demand-side dynamics within the Czech Republic Travel and Tourism sector, along with key market trends and growth opportunities

Key Highlights
NA

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Global Sports Tourism Market 2017-2021

  • $ 3500
  • Industry report
  • August 2017
  • by Infiniti Research Limited

About Sports Tourism Sports tourism refers to a traveler’s involvement with a country or region’s sporting events. The involvement can be in an active or passive form. These sporting events include ...

Travel and Tourism Industry Business Outlook and Procurement Survey H1 2017

  • $ 1950
  • Industry report
  • June 2017
  • by GlobalData

Travel and Tourism Industry Business Outlook and Procurement Survey H1 2017 Summary GlobalData’s "Travel and Tourism Industry Business Outlook and Procurement Survey H1 2017", report examines executives’ ...

China Outbound Tourism Market, Outbound Tourists Visits, Tourists Market (Spending) & Forecast

  • $ 1400
  • Industry report
  • May 2017
  • by Renub Research

China Outbound Tourism Market is more than USD 200 Billion in 2016, to achieve this growth it has grown with a CAGR of 20.3%. As there has been an increase of average income and a less restrictive tourism ...


ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.