Trends and Opportunities in Travel and Tourism Industry in Germany - Market Historical Growth data and Forecast to 2020

International arrivals to Germany rose at a CAGR of 4.83% during 2010 to 2015. By promoting tourism in other countries, the tourism board has ensured that the country manages to attract a large number of tourists. Visiting friends and relatives (VFR) was the primary reason for domestic travel in 2015. The spread of the Zika virus is likely to result in fewer outbound trips to the Americas and the recent terror attacks in France and Belgium are expected to have an adverse effect on trips with in the Europe.

Inbound tourism in Germany registered healthy growth during 20102015, with trips increasing from 26.9 million in 2010 to 34 million in 2015. The growth was partly driven by the countrys efforts to attract tourists by organizing several sports events such as Berlin marathon and Formula E series. Moreover, domestic tourist volume increased at a CAGR of 0.67%, while domestic tourist expenditure increased at a CAGR of 2.92%. The spread of the Zika virus is likely to result in less outbound trips to the Americas and the recent terror attacks in France and Belgium are expected to have an adverse effect on trips within Europe. The number of departures reached 91 million by 2015. Canadean expects the volume of outbound tourists from Germany to rise at a CAGR of 1.51% during 20162020, to reach 98.1 million by 2020

Browse Market info, get a Sample PDF with TOC: http://www.researchmoz.us/enquiry.php?type=S&repid=717572

Ryanair is aiming to grow its market share to 20% over the next five years in the German market by offering more routes, and is competing with Lufthansa and Air Berlin. Moreover, with Air Berlin eliminating its unprofitable routes, it decreased its capacity by around 5%, and Lufthansas high ticket costs, German airports are considering moving towards Low Cost Carriers (LCCs) such as Ryanair

China is known to be a large market in terms of tourism spending in a country. Germany has also benefitted from Chinese tourists; however, due to the slowing economy and the currency devaluation in China, inbound tourism has been affected as growth decreased from 15% in 2013 to 3.4% in 2015. The government devalued the currency by 2% on August 11, 2015 and then again by 1.6% on August 12. Moreover, in January 2016, the Chinese Government again devalued the currency by 3%

Synopsis

Canadeans report Travel and Tourism in Germany to 2020 provides detailed information on the countrys tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

Enquiry at: http://www.researchmoz.us/enquiry.php?type=E&repid=717572

Reasons To Buy:-

- Make strategic business decisions using historic and forecast market data related to Germanys Travel & Tourism sector
- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
- Direct promotional efforts on the most promising markets by identifying the key source and destination countries

ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz’s service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.

Albany NY - 12207
United States
Tel: +1-518-621-2074
Tel: 866-997-4948 (Us-Canada Toll Free)
Email: sales@researchmoz.us

This release was published on openPR.