CZECH REPUBLIC, SLOVAKIA and HUNGARY
|Population||10.7 million||9.68 million||5.5 million|
|Capital city & Population||Prague 1.16 million||Budapest 1.7 million||Bratislava 0.5 million|
|GDP per capita Annual Growth||20,368.14 USD 4.3%||15,946.64 USD 4.9%||19,535 USD 4.1%|
A rebounding economy and higher disposable incomes continue to drive the travel activity in these Central European countries. The general positive attitude towards global tourism supports a willingness to travel. Growing appetite for travel, driven mainly by rising incomes and record low unemployment, is fuelling expansion and innovation in some travel categories.
Low cost carriers offer new routes to capture growing tourism flows
Despite the increasing trend for planning and booking holidays well in advance before the main peak season arrives, some consumers will remain enthusiastic about booking flights or holidays through low cost carriers, leading to the latter’s ongoing strong growth.
This is supported by an increasing number of new destinations available directly from Prague, Budapest or Bratislava, through leading low cost carriers such as Wizz Air and Ryanair
“Early Bird Bookings”
While last minute offers and daily deal sites that enable the immediate booking of both domestic and foreign trips used to dominate sales when demand was lower, local consumers are now using “early bird” deals, often choosing and booking holidays during the winter period ready for the summer season, to ensure that they are able travel to their favoured locations to avoid disappointment
Online travel bookings continue to record strong growth
The booking of travel-related products online continues to grow in these countries, with accommodation and purchasing airline tickets through online platforms an everyday exercise for seasoned travellers.
Intermediaries still considered important
Online travel intermediaries now dominate sales with local travellers appreciating the various deals and packages that can be found through well-known and trusted companies, particularly amongst families with young children or older travellers who require the security offered by being in a group, especially if they are not comfortable with using sites in a foreign language.
Local dominant online travel intermediaries (OTAs and Tour Operators) who offer holidays to a larger than ever number of exotic destinations, such as the Maldives, Zanzibar and Asia.
A local partner knowing the market in depth is consequently uniquely placed to assist entry into these markets.