Travel in Hungary

Upbeat mood and higher disposable incomes drive growth

The positive sentiment in global tourism during the post-recession period kept the Hungarian market growing in 2018. Both inbound arrivals and outbound departures registered further increases as leisure travel still ranked high when it comes to spending on treats from disposable income.

Travel experiences shift to online and mobile platforms

Booking accommodation or buying airline tickets online has already become an everyday exercise for avid travellers. Ones looking for affordable options also quickly learned how to find the best deals via word of mouth, social media and friends’ recommendations.

Travel sees concentration in online booking and tourism marketplaces

The once fragmented market of various websites offering value deals and local adaptations of customer review sites became more concentrated. Particularly the fragmented daily deal sites morphed; they emerged as those promoting domestic lodging options and helped to acquire new guests for wellness hotels, spas and other mid-priced lodging facilities during the post-recession period when people were still cautious about their spending.

Adoption of proven business models instead of real innovation

Although smartphone penetration was high and Hungarians quickly adopted novelties, the local market was rarely used to launch breakthrough ideas or new business models. Most innovative ideas related to online booking, payment and enriching the customer journey during travel, but these ideas were mostly local adaptations of existing business models that emerged in other countries and areas.

Travel remains an attractive investment option with growing demand

Travel and tourism-related developments will remain in focus during the forecast period as several long-term government programmes will be available to improve tourism-related infrastructure and upgrade comfort levels of existing hotels to enhance competitiveness. A new tax for consumer foodservice operators, the tourism development contribution, was introduced as of 2018 with the aim of allocating even more financial resources to tourism development.

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