The number of inbound arrivals during 2017 set a new record with 15.9 million trips and HUF2,386.4 billion sales generated directly. Although the growth rate is below the peaks of the previous three years, the country remains popular for short visits to Budapest as low cost carriers and short-term rentals help keep travel expenses low. International sporting events, like FINA Aquatics World Championship gave a one-off boost in 2017 with potential for some positive effects carried over into the forecast period.
Inbound tourism is set to post a 5% CAGR to reach 19.8 million trips, while domestic trips will record a 5% CAGR to 15 million trips in 2022. The growth will be fuelled by the increased marketing activities related to various events that entice people to travel. The availability of affordable travel and lodging options will be also an important catalyst for the positive performance.
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This report originates from Passport, our Flows research and analysis database.
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