Feb. 26, 2010 -
PRLog -- Tourism Overview Following weak growth in foreign tourist arrivals in 2008, the latest data show a decline in arrivals of 3% year-on-year (y-o-y) in the first seven months of 2009. By contrast, domestic tourism recorded a sharper decline, with tourist numbers down by a significant 12% y-o-y over the same period. Overall tourism (domestic and foreign) numbers fell by 5% to almost 6mn tourists. Of the top six source markets, only arrivals from Austria and Germany recorded positive growth in the first seven months of 2009, up by 4% and 0.4% respectively. The number of visitors from Italy declined by 2% y-o-y, while visitors from Slovenia fell by 5% compared with the same period in 2008. Arrivals from the Czech Republic fell by 7% y-o-y, but visitors from Poland were up by a strong 10% y-o-y. Two other Eastern European countries, Bulgaria and Ukraine, recorded favourable growth in visitors although from a low base. Hospitality Figures for the first seven months of 2009 show the number of tourist nights totalled 29.5mn (domestic and foreign tourists), down by 5% y-o-y. The number of foreign tourist nights declined by 4% y-o-y to just over 26mn (nearly 89% of the total), with the average number of nights per tourist just over five. Domestic tourist nights, on the other hand, fell by 11% compared with the corresponding period in 2008, to 3.3mn. Among the key source markets, Slovenia, Italy and the Czech Republic all recorded a fall in tourist nights y-o-y. Industry Forecast Scenario BMI continues to maintain a poor outlook for the Croatian tourism sector in the short term. Our forecast for foreign tourist arrivals in 2009, however, has improved marginally this quarter, and we now expect a fall of 5% y-o-y. Further, we also anticipate slight negative growth of 1% y-o-y in arrivals in 2010. Underlying the forecasts are the continuing severe economic conditions in major source markets - particularly the eurozone. Despite eurozone recession, the number of foreign arrivals from key markets such as Germany and Italy has held up reasonably well - at least in the early part of 2009. Given that we expect Croatia to become an EU member around 2012-2013, this should be associated with a favourable period for the tourism sector. Air Passenger Traffic As the downturn in the tourism sector continues to bite, the most recent data for H109 show a substantial 15% fall y-o-y in international passenger numbers on Croatian carriers. Further, at Zagreb Airport - the main international airport in Croatia and the primary hub for the national flag carrier Croatia Airlines - total passenger numbers fell by just over 4% y-o-y in the first eight months of 2009. Adris Group In 2008, total operating income of the domestic hospitality sector company Adris Group was unchanged compared with a year earlier at HRK3.18bn (US$602mn). The group's net profit fell though, by 25% y-oy to HRK504mn (US$95mn). The tourism business unit of Adris Group generated a relatively strong increase in sales revenue of 14% y-o-y in kuna terms, while there was a 4.6% annual rise in the number of bed nights to 2.75mn.
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