Paul Thomen

Monday, 17 June 2013

New Report: Switzerland Travel and Tourism Market 2017

Following a decline in 2009 due to the adverse affects of the global financial crisis, the Swiss travel and tourism sector recorded an increase in both inbound and outbound tourist volumes and expenditure in 2012. Promotional activities organized by the tourism authority coupled with relatively stable economic conditions were the key drivers of this growth. In terms of its contribution to GDP and employment figures, the travel and tourism sector plays a significant role in the Swiss economy. According to World Travel and Tourism Council (WTTC), in 2012, tourism accounted for 8.0% of the nation’s GDP and 9.9% of its employment figures.

Domestic tourist volumes increased from 8.1 million tourists in 2008 to 8.6 million in 2012, at a CAGE of 1.31%. It is anticipated that, between 2012 and 2017, volumes will increase at a projected CAGR of 1.63% and reach a high of 9.3 million. The key growth drivers are expected to be economic stability, rising levels of consumer confidence and government initiatives to increase domestic tourism. On the other hand, inbound tourism grew between 2008 and 2012 and recorded a CAGR of 0.15%, rising from 9.2 million to 9.3 million. Inbound tourist arrivals are expected to reach 10.6 million in 2017, expanding at a projected CAGR of 2.53%. The key drivers of this growth will be economic improvement in key European source markets, the strengthening of the Swiss Franc, improved access to travel services at increasingly competitive prices and government efforts to promote Switzerland as a tourist destination.

Despite this, in revenue terms, the Swiss hotel market declined between 2008 and 2012 at a CAGR of -2.51% from CHF6.1 billion (US$5.6 billion) to CHF5.5 billion ($5.8 billion). However, it is expected to increase at a CAGR of 2.45% and reach CHF6.2 billion (US$6.6 billion) by 2017.

Finally, the Swiss travel intermediary industry value is anticipated to increase at a CAGR of 6.05% between now and 2017 and eventually reach CHF10.7 billion (US$11.4 billion). This will be driven by a rise in discretionary spending, increased business travel and government-lead marketing campaigns. The industry share of online intermediaries is expected to increase from 25.0% in 2012 to 30.0% in 2017 as internet penetration rates rise. Consequently, the industry share of the in-store market is anticipated to decline from 75.0% in 2012 to 70.0% in 2017.

The economic slowdown in 2009 adversely affected Hong Kong’s hotel market as it recorded an 11.2% decrease in total hotel revenues. However, the market value expanded at a CAGR of 11.58% between 2008 and 2012, due to recovery in tourist flows in 2010 and 2011. Hong Kong’s hotel market posted an increase in revenue from HKD33.8 billion (US$4.3 billion) in 2012 to HKD45.2 billion (US$5.8 billion) in 2012. Total revenue is expected to increase at a CAGR of 5.07% to reach HKD57.9 billion (US$7.5 billion) by 2017, with an expected increase in tourist volumes.

Reasons to buy

- Stay one step ahead of the industry by understanding the flow of tourists including domestic, inbound and outbound.
- Understand where the potential lies within the Swiss travel and tourism industry by viewing data and forecasts with regards to Airlines, Hotels, Car rental, etc.
- Stay ahead of your competitors by taking a look into their company profiles, including Swiss International Airlines, EasyJet Switzerland, Budget car rental, Hertz, and Tour 168 of Switzerland GmbH.
- Expand your business by gaining an overall understanding of the market using the reports Airport profiles, tourism board profiles, car rental profiles, etc as well as a SWOT analysis on the Swiss Tourism market.

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