Travel in
Venezuela

Country Report

Executive Summary

Sep 2018
Hyperinflation impacts the travel industry

The hyperinflation effects on the economy in general have affected all the activities carried out in the tourism industry, mainly the most relevant – lodging, travel modes, and intermediaries. The replacement of functional and operational assets has caused many aircraft, vehicles and boats to leave companies’ service lines, and the rooms, halls and fundamental operative units of accommodation establishments have been impacted.

Online sales increase but are still slow

The development of technology has facilitated user access to the tourist services network and has, consequently, brought about a significant reduction in the traditional use of established marketing channels in tourism. The main traditional travel agency chains are adapting their online offer and making it more flexible and dynamic, with the main goal of reaching customers who look online to find unique offers and good deals.

Airlines leave the country

Many airlines have left Venezuela, after lengthy disputes over billions of dollars that the government owes them. The Venezuelan government has not reimbursed companies in hard currency for the sale of tickets in local currency, according to strict monetary controls.

“Risk tourism” – a new trend in Venezuela?

A phenomenon developed in the review period – arrivals of foreign tourists from Russia, France, Spain, and New Zealand, who love risk and are interested in the Venezuelan crisis, which is characterised by shortages of basic goods, violent unrest and political repression. Despite Caracas being one of the most violent cities in the world, these tourists want to have a close look at “socialism in the 21st century”.

Travel to continue on a downward volume trend due to economic recession

Economic recession resulting from the fall in oil prices towards the end of the review period, in conjunction with hyperinflation, scarcity of goods and an increasing loss of air connectivity with the rest of the world, are the variables that will play major roles in the performance of the Venezuelan travel industry. From the supply perspective, it will add another element of uncertainty to an already hectic business environment, as firms continue to face the threats of price ceilings and government inspections and raids.

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Discover the latest market trends and uncover sources of future market growth for the Travel industry in Venezuela with research from Euromonitor's team of in-country analysts.

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The Travel in Venezuela market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation
  • Historic volumes and values, company and brand market shares
  • Five year forecasts (of market share, market trends, market growth)
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

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  • What are the major brands in Venezuela?  

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This industry report originates from Passport, our Travel And Tourism market research database.

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Travel in Venezuela

EXECUTIVE SUMMARY

Hyperinflation impacts the travel industry
Online sales increase but are still slow
Airlines leave the country
“Risk tourism” – a new trend in Venezuela?
Travel to continue on a downward volume trend due to economic recession

SWOT

Summary 1 Destination Venezuela: SWOT

MARKET DATA

Table 1 Annual Leave: Volume 2013-2018
Table 2 Travellers by Age: Number of People 2013-2018
Table 3 Seasonality: Number of People 2013-2018
Table 4 Leisure Outbound Demographics: Number of Trips 2013-2018
Table 5 Other Transport Sales: Value 2013-2018
Table 6 Other Transport Online Sales: Value 2013-2018
Table 7 Forecast Other Transport Sales: Value 2018-2023
Table 8 Forecast Other Transport Online Sales: Value 2018-2023
Table 9 Activities: Value 2013-2018
Table 10 Forecast Activities: Value 2018-2023

SOURCES

Summary 2 Research Sources

Airlines in Venezuela

HEADLINES

PROSPECTS

Airlines continue to leave the country
Avior Airlines records the largest value share among airlines in 2018
Charter flights try to solve the schedule airlines shortage

CATEGORY DATA

Table 11 Airlines Sales: Value 2013-2018
Table 12 Airlines Online Sales: Value 2013-2018
Table 13 Airlines: Passengers Carried 2013-2018
Table 14 Airlines NBO Company Shares: % Value 2014-2018
Table 15 Scheduled Airlines Brands by Key Performance Indicators 2018
Table 16 Forecast Airlines Sales: Value 2018-2023
Table 17 Forecast Airlines Online Sales: Value 2018-2023

Lodging in Venezuela

HEADLINES

PROSPECTS

The scarcity of staples continues to hit lodging in 2018
Eurobuilding Group is the leading player in a split competitive environment
Short-term rentals have high potential but are still a lodging niche

CATEGORY DATA

Table 18 Lodging Sales: Value 2013-2018
Table 19 Lodging Online Sales: Value 2013-2018
Table 20 Hotels Sales: Value 2013-2018
Table 21 Hotels Online Sales: Value 2013-2018
Table 22 Other Lodging Sales: Value 2013-2018
Table 23 Other Lodging Online Sales: Value 2013-2018
Table 24 Lodging Outlets: Units 2013-2018
Table 25 Lodging: Number of Rooms 2013-2018
Table 26 Lodging by Incoming vs Domestic: % Value 2013-2018
Table 27 Hotels NBO Company Shares: % Value 2014-2018
Table 28 Hotel Brands by Key Performance Indicators 2018
Table 29 Forecast Lodging Sales: Value 2018-2023
Table 30 Forecast Lodging Online Sales: Value 2018-2023
Table 31 Forecast Hotels Sales: Value 2018-2023
Table 32 Forecast Hotels Online Sales: Value 2018-2023
Table 33 Forecast Other Lodging Sales: Value 2018-2023
Table 34 Forecast Other Lodging Online Sales: Value 2018-2023
Table 35 Forecast Lodging Outlets: Units 2018-2023

Online Travel Sales and Intermediaries in Venezuela

HEADLINES

PROSPECTS

Travel agency chains adapt to become more dynamic
Turismo Maso Internacional leads intermediaries in Venezuela
Niche groups maintain intermediaries

CATEGORY DATA

Table 36 Travel Intermediaries Sales: Value 2013-2018
Table 37 Intermediaries Corporate Business Online Sales: Value 2013-2018
Table 38 Intermediaries Leisure Online Sales: Value 2013-2018
Table 39 Travel Intermediaries NBO Company Shares: % Value 2014-2018
Table 40 Online Travel Sales to Residents: Value 2013-2018
Table 41 Mobile Travel Sales to Residents: Value 2013-2018
Table 42 Forecast Travel Intermediaries Sales: Value 2018-2023
Table 43 Forecast Intermediaries Corporate Business Online Sales: Value 2018-2023
Table 44 Forecast Intermediaries Leisure Online Sales: Value 2018-2023
Table 45 Forecast Online Travel Sales to Residents: Value 2018-2023
Table 46 Forecast Mobile Travel Sales to Residents: Value 2018-2023

Tourism Flows in Venezuela

HEADLINES

PROSPECTS

Venezuelan global migration impacts outbound departures
Potential attraction to natural beauty is hampered by crisis
The government continues planning to activate tourism in Venezuela

CATEGORY DATA

Table 47 Inbound Arrivals: Number of Trips 2013-2018
Table 48 Inbound Arrivals by Country: Number of Trips 2013-2018
Table 49 Inbound City Arrivals 2013-2018
Table 50 Inbound Receipts: Value 2013-2018
Table 51 Leisure Inbound Demographics: Number of Trips 2013-2018
Table 52 Forecast Inbound Arrivals: Number of Trips 2018-2023
Table 53 Forecast Inbound Arrivals by Country: Number of Trips 2018-2023
Table 54 Forecast Inbound Receipts: Value 2018-2023
Table 55 Domestic Trips by Destination: Number of Trips 2013-2018
Table 56 Domestic Business Trips by Travel Mode: Number of Trips 2013-2018
Table 57 Domestic Leisure Trips by Travel Mode: Number of Trips 2013-2018
Table 58 Domestic Expenditure: Value 2013-2018
Table 59 Forecast Domestic Business Trips by Travel Mode: Number of Trips 2018-2023
Table 60 Forecast Domestic Leisure Trips by Travel Mode: Number of Trips 2018-2023
Table 61 Forecast Domestic Expenditure: Value 2018-2023
Table 62 Outbound Departures: Number of Trips 2013-2018
Table 63 Outbound Departures by Destination: Number of Trips 2013-2018
Table 64 Outbound Expenditure: Value 2013-2018
Table 65 Forecast Outbound Departures: Number of Trips 2018-2023
Table 66 Forecast Outbound Departures by Destination: Number of Trips 2018-2023
Table 67 Forecast Outbound Expenditure: Value 2018-2023

Car Rental (Destination) in Venezuela

HEADLINES

PROSPECTS

Car rental in Venezuela is hit by the drop in car sales and spare parts
The competitive landscape remains fragmented in 2018
Internet transactions remain low in 2018

CATEGORY DATA

Table 68 Car Rental Sales: Value 2013-2018
Table 69 Car Rental Online Sales: Value 2013-2018
Table 70 Structure of Car Rental Market 2013-2018
Table 71 Car Rental NBO Company Shares: % Value 2014-2018
Table 72 Car Rental Brands by Key Performance Indicators 2018
Table 73 Forecast Car Rental Sales: Value 2018-2023
Table 74 Forecast Car Rental Online Sales: Value 2018-2023