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The Middle East government is making efforts to increased tourism which is the key factor for the growth in theme parks. Investments by international players are expected to fuel the Middle East Theme Parks market over the coming years. It was observed that there is a continuing inflow of tourists which is shaping the Middle East theme parks along with a favourable investment and climate. Annual international events are usually organized in Middle East which is increasing the diversity of theme parks. Modernised theme parks have enhanced the stay of tourists with increasing supply of hotel rooms at a reduced price and had positive impact on the tourism sector.

According to the study “Middle East Theme Park Market Outlook to 2021 - Increasing Number of Foreign Visitors and New Theme Parks in Pipeline to Foster Future Growth”, every individual entering any theme park in Middle East need to pay an admission fee which generates huge revenue. Well established restaurants and eateries are present within the theme parks to cater to the increasing tourists needs which generate huge revenue. Middle East theme parks are designed with international standards, improved technology and safety which are attracting huge number of tourists. Saudi Arabia theme park market dominates the Middle East theme park market with a huge share in terms of revenue in the recent years with increase in tourists and this trend is ongoing.

The theme parks market is spread across UAE, Saudi Arabia, Qatar, Jordan and Kuwait regions in the Middle East. Sparky’s, Metropolis and Vortex are indoor family entertainment centres in Middle East theme parks which undergo technological upgrades regularly to meet the changing demands of customers. Flow House Waterpark in Kuwait was launched in September 2016 and attracts more tourists to the theme parks market in this region. Warner Bros amusement park in UAE and Kidzmondo theme parks in Saudi Arabia are yet to be launched by the end of the year, 2017. These two theme parks are anticipated to positively impact the overall Middle East theme parks market over the coming years.

The leading players in the Middle East theme parks market are Abha Palace Theme Park, Adventureland, Al Hokair Group, Al Hokair Land, Al Shallal Theme Park, Aqua Park, Aquaventure, Atallah Happy Land Park, Bollywood Parks, Circus Land, City Center, Doha Toys Town, Dreamland Aqua Park, DXB Entertainment, Fakieh Group , Fantasia Land, Fantasy Island, Ferari World, Fun Ville, Funday, Funville, Gondolania, HappyLand, Happyland Water Park, Iceland Water Park and Fun City, Jungle Land, Jungle Zone, King Fahd Park, Legoland Dubai, Legoland Waterpark, Luna Park, Majid Al Futtaim, Motiongate, Star City, Wild Wadi, World of Adventure, and Yas Waterworld.

Theme parks are a primary destination for enthusiastic consumers. Changing trends in consumer’s lifestyle, increase in consumer spending limit and technology developments in animatronics, hydraulics and pneumatics add hi-tech thrills to entertain consumers. Use of simulation, virtual reality and augmented reality technologies are gaining momentum. Almost all the Middle East theme parks provide high quality balanced family entertainment for all ages of consumers. Smart wristbands, smart applications, customized mobile applications, holiday related promotions are few of the outstanding IoT technology based benefits offered by the Middle East theme parks.

A partnership was established between investment groups and global players such as Warner Bros., Six Flags and SeaWorld to develop hi-tech theme parks in Middle East by the year 2020. There are major mega-projects under development in United Arab Emirates such as theme parks and safari parks. The theme parks in Middle East employs over 18,000 attendees in the hospitality sector as heads of major hotels, leisure resorts, spas, theme parks, aquariums, shopping malls and other areas.

Various stringent safety systems were installed in the theme parks to avoid any injuries during entertainment rides. Innovative hi-tech coasters are embedded with thousands of sensors to analyze load, air pressure, and weather conditions during launch. The new theme parks which are under construction may be incorporated with advanced robotics and automatically guided vehicles. New theme parks anticipated to be established in the countries of the Middle East will surely add to the overall revenues of the theme parks market. The theme parks sector in Middle East will witness a huge transformation in UAE’s leisure and entertainment offering. Middle East leisure and entertainment market will witness a whooping growth over the coming years with more international tourists, and ever increasing population.

To know more, click on the link below:

https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/middle-east-theme-park-market/111402-94.html

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Saudi Arabia Theme Park Market Outlook to 2021 - Increasing Inflow of Tourists and Augmenting Demand for Indoor Theme Parks to Foster Future Growth

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Increasing Internet Penetration, Rising Smartphone Usage, New Technology (AI, Virtual Reality, ChatBots) Evolution, Internet Speed, Increasing Prominence of Ecommerce were the key factors driving growth in Poland Online Advertising Market.

Poland digital advertising agencies have realized the importance of real-time marketing, analytics, monitoring and planning to devise a success full internet campaign. In the dynamic digital environment, response time to online advertisement makes the difference in effective and ineffective communication with the customers. Hence, online video ads play a pertinent role in dominating the digital communication between brands and customers.

Digital agencies understand that the evolution in visual storytelling and role that video messages play in increasing brand recognition, influencing user engagement, forming relationship and communicating the brand value. Digital Video ads and Display ads registered the highest growth in online advertising industry in Poland in 2016.

Poland online advertising market ecosystem is currently earmarked by the presence of advertising agency (i.e. the company which creates and buys advertising for its customers to promote it on internet), ad Network (connects advertisers and publishers and creates advertising packages/ campaigns), Aggregators/ Sell Side Platform (SSP) (Entities that aggregate the publisher's advertising space. Allows publishers to manage their surface advertising and maximizing advertising revenue, by selecting ads from different sources), Ad Exchanges (A platform that allows advertisers and publishers to participate in the auction, and therefore the sale and purchase of the area under RTB model), Data suppliers (Entity which has user data and delivers it in unprocessed form to the DMP platform), Data Management Platform (i.e. Platform for management, protection and data collection from different sources, to be processed and made available for purchase and sales platforms), Demand Side Platform (A technology that allows advertisers to participate in the purchase of advertising space on the Internet in the RTB model), Agency Trading Desk (Trading desk which enables advertiser participation in the auction. It is created specifically for needs of the company (agency) and contains functionalities allowing, managing client data and many campaigns), Technology / Tools (Entities that provide software for implementation of advertising campaigns on the Internet, to manage emissions and to serve graphic, text, and shipping ads) and finally Publishers (Entities which gets money for showing the ads on its site).

According to Ken Research, several trends have been observed in the Polish online advertising market which include consolidation of horizontal ad networks, evolving ways of bidding and selling via RTB and programmatic models, rising smartphones shipments and Facebook outgoings and automated guarantee (allows publishers to offer premium inventory with a good rate) and header bidding (which lets publishers to compare SSP and adnetworks offers for each impression and choose the best one).

The report titled “Poland Online Advertising Market by Type (Display, Paid Search Ads, Paid Classified/ Directories, Paid Email Ads), By Mobile Ads, By Social Media Ads – Outlook to 2022” by Ken Research suggested an online ad spend growth at a positive double digit CAGR for Poland Market in next 5 years till 2022.

Source: https://www.kenresearch.com/media-and-entertainment/advertising/poland-online-advertising-market/142277-94.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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Poland online advertising market by Type of Online Ads (Display, Paid Search Ads, Paid Classified/ Directories, Paid Email Ads), By Mobile Ads, By Social Media Ads, By Digital Ad Spending by Various Sectors (Retail, E-commerce, Automotive, Telecom, Financial Services, Packaged Food, Hotel/ Bars/ Restaurant and others) and Market Share of Major Digital Platforms (Google, Facebook, Youtube, Twitter & Instagram, Nasza-Klasa.pl, goldenline.pl), and Major Online Advertising Agencies (VML Poland, K2, Ideo Agency, J.Walter Thompson Group, Nitro Digital, Connaxis)

November 2017 | Poland News

• The growth of online ad market will result not only from bigger budgets for internet campaigns but also from expected higher prices for digital advertising in coming years
• Rising Ecommerce market, support from publishers and network providers, tremendous reach through social networking sites boasts the demand for online advertising in the country.

Social media penetration in Poland has been on a surging trend in the past few years just like everywhere else. More than 50% of Polish adults i.e. over 18 years of age use social media. Social media is currently used extensively by young adults belonging to 18 to 24 years of age, followed by users aged 35 to 64 and then users aged over 65. Facebook, nk.pl and Twitter are one of most used platforms in Poland. Facebook has over 64% penetration rate in Poland with over 40% of the population has an active account on any social media website in 2017. Ad spend on social media platform has increased manifolds since 2011 in Poland with rising social media user base and time spent on these platforms by users.

Over 75% of the online ad spend was contributed by display ads and SEM in Poland in 2016. Advertisers have underscored the supremacy of Internet over advertising platforms and its dominance in polish people’s lives. The people in Poland use internet at work, at home, in a café, in a car and wherever the coverage is available. With the development of mobile devices, polish people are continuously connected to the web. There are more than 27 million internet users in Poland in 2016 which indicates a penetration rate of over 70%. Since the number of people accessing Internet is growing, advertisers are keen to place their ads on digital platforms.

The largest percentage growth was observed in mobile advertising and social media ads. Major brands which belong to automotive, finance, real estate, telecom and e-commerce sectors spent the most on online advertising in Poland.

The digital advertising sector will benefit the most from mobile in future as it has become the channel of great effectiveness and vigorously extending coverage with over 8 million smartphones sold in a year in Poland. Companies are constantly aware of power of Mobile devices and thus have begun investing in this channel. Moreover, new forms of online promotion, such as Real time bidding (RTB), retargeting or programmatic, will significantly grow the effectiveness of promotional activities online.

Video online ads will also continue to expand at the fastest pace with an expected growth of 20-30%. Ken Research in its latest study, Poland Online Advertising Market by Type (Display, Paid Search Ads, Paid Classified/ Directories, Paid Email Ads), By Mobile Ads, By Social Media Ads – Outlook to 2022, suggested that going ahead, brands will need to welcome the potential of disruptive technologies such as virtual reality, artificial intelligence and voice activation. The research suggests that the adoption rate of such technologies will grow at a robust pace in the coming future.

Key Topics Covered in the Report

• Poland Advertising Market Overview
• Poland Advertising Market Genesis
• Online Ad Spend in Poland
• Digital Advertising Spend in Poland
• Online Ad Expenditure in Poland
• Digital Video Ad Market Growth Poland
• Social Media Ad Spend in Poland
• Online Advertising Bids in Poland
• Market Share of Online Ad Platforms Poland
• Online Advertising Market Segments Poland
• Trends Digital Advertising Expenditure Poland
• Competition in Digital Advertising Agencies Poland
• Future Mobile Ad Spend Poland
• Youtube CPM in Poland
• Facebook Ad Revenue Poland
• Top Digital Advertising Agency Poland
• Forecast Digital Ad Spend Poland

For more information on the research report, refer to below link:

https://www.kenresearch.com/media-and-entertainment/advertising/poland-online-advertising-market/142277-94.html

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Indonesia Online Advertising Market Outlook to 2021- Significant Rise in Internet, Mobile and Social Media User Penetration to Drive Growth

Indonesia online advertising market has recorded an amplified expenditure of USD 1,088 million in 2016. The market is dominated by search and banner advertising. During the period of 2011-2016, majority of advertisement spending is generated from FMCG/Retail sector.

Philippines Online Advertising Market Outlook to 2018 - Driven by Rising Internet and Social Media Penetration Rate

Display advertising contributed nearly 65.2% to the total revenue of online advertising in Philippines. The Online Video Ads are projected to be the next most growing segment out of the remaining types of online advertisements. Online video ads contribution is expected to grow from nearly 11.2% in 2014 to nearly 16.7% in 2018.

UAE Online Advertising Market Outlook to 2017- Expected Growth in Mobile and Video Advertising Segment

UAE Online Advertising market is expected to reach a value of USD 216 million in 2017, growing at a CAGR of 28.4% during 2012-2017. The largest contributing segment of the online advertising industry would continue to be search and social media, with a share of 44.0%.

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
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The revenue generated by theme parks in the Qatar is projected to augment to USD ~ million by 2021 from USD ~ during 2016, registering a CAGR of ~% during the same period. The primary force that will drive the revenues of this market will be the establishment of creative and unique theme parks coupled with the growing tourism in the country during this period.

Since majority of theme parks in the country mainly cater to children, the growing youth population in Qatar will be the primary force driving the number of theme park visitors during this period.

Trends And Developments In Qatar Theme Park Market

Strategic Location of Theme Parks in Qatar: Theme parks in Qatar are developed in prime areas within malls, resorts and hotels in order to tap the tourist population visiting these places. KidzMondo Doha has been constructed in the Mall of Qatar. Similarly, Gondolania is located in Villaggio Mall while Jungle Zone and Circus Land Park are located in Hyatt Plaza and Landmark Shopping mall respectively.  In addition to that locations of the entertainment centers like the centers located inside city center have been planned with strategic understanding that people who visit one of the Qatar’s largest shopping mall for shopping and dining automatically gets attracted towards family center. These family centers also welcomes  large number of children as parents who visit mall for shopping leave their children in these parks for playing during their shopping time. 

Development of Theme Park Resorts and Edutainment Parks: Companies are coming out with unique offerings and new ideas are being implemented within theme parks to increase annual visitors. The latest trend involves setting up spa resorts within amusement and water parks to tap the growing tourism in the country. In addition, companies have also introduced edutainment parks, which provide kids an array of educative activities and attractions coupled with fun and games.

Source: https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/qatar-theme-park-market/110382-94.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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• Theme parks market of the Kingdom is expected to gain high revenue share in the future as global theme parks are expected to launch by 2021
• Rising demand for entertainment centers typically by female customers are expected to assist market in growing its revenue
• Foreign tourists arriving in Saudi Arabia were the major revenue contributors in the country’s theme parks market in 2016 majorly due to the efforts of tourism department to make Kingdom a tourist destination.

The theme parks market of Saudi Arabia has witnessed some new launch of theme parks by significant international amusement park players by offering franchisee to the Saudi nationals. For instance, Landmark Leisure, the entertainment division of the Landmark Group, launched Saudi Fun City center at Oasis Mall, Alkhobar in 2016. In 2015, another international market player, KidzMondo announced to open their first theme park in Riyadh by 2017 under a franchisee agreement. The global player plans to invest USD 133 million in the theme parks market of the Kingdom. The growing international investments would result in presence of advanced technology theme parks in the Saudi Arabia and the fact that theme parks are major source of entertainment in the country, it is anticipated to foster growth of the market at a high rate during the forecast period.

Moreover, social restrictions in the Kingdom have made market players shift their concern towards the growing demand of women for theme park services in the country. Market players offer benefits to women customers by way of arranging specialized hours wherein only women are allowed to enter in that specific interval. The expansion of female customer base has also added to the merchandise sales from outlets within the park premises as female customers are more inclined towards shopping; thereby driving the overall theme parks market in a positive manner.

Ken Research in its latest study, Saudi Arabia Theme Parks Market Outlook to 2021 suggested a rapid growth in Saudi Arabia theme parks market majorly driven by expanding tourism in the country. Technological advancements and rising craze of domestic population towards indoor theme parks of the country is attracting large number of visitors, generating high revenue for the market.

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Miral Asset Management, IMG Group, Landmark Group, Majid Al Futtaim Ventures, Al Hokair Group, DXB Entertainment in UAE Theme Park Market

Responsible for the development and maintenance of Yas Island, Miral owns and operates Ferrari World and Yas Waterworld theme parks. The above average admission fee coupled with the high brand recognition and popularity of Ferrari brand has helped the company achieve the top spot in the theme park market in the UAE.

IMG’s World of Adventure is considered to be the largest indoor theme park in the world. As a result of its temperature controlled setting and unique rides, there has been a constant increase in international and domestic visitors, even during peak summer, assisting IMG group attain second position in the market.

The company opened its first Fun City outlet in 1999 and has expanded to around ~ outlets in the UAE alone. Competitively priced rides with low capital investment across all outlets have helped the group garnered a commendable share in the theme park market

The revenue generated by amusement parks has driven the overall revenues of the theme park market during the review period. The growing potential for technical advancement of mechanical rides and attractions had incentivized theme park operators to continuously upgrade them to effectively cater the changing preferences of customers.

The High initial capital investment in theme parks force operators to charge higher admission fee compared to water parks, which has also resulted in leading position of the segment. In addition, theme park operators have also introduced attractive all inclusive packages, which has stimulated higher revenue generation from this segment

Water parks had only accounted for ~% of overall theme park market revenues during 2016. Lesser number coupled with lower admission fee for water parks had adversely impacted higher revenue generation from this segment. It has been observed that most of the water parks in the UAE are situated in premises of luxury hotels and resorts and therefore, are mostly preferred by the guests living in these hotels and resorts.

Source: https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/uae-amusement-park-waterpark-market/108144-94.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

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Ken Research announced latest publication titled “Travel and Tourism in Singapore to 2020 “ provides detailed information on the country's 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.

Singapore indicated prodigious growth in travel and tourism industry which has led to inbound and outbound tourism rise in Singapore. Singapore Tourism Board is coming up with different schemes by investing in tourism promotion campaigns and foreign partnerships. The government of Singapore is providing funds for the future boost in the sector. Further, tourism industry is anticipated to expand between period 2016-2020 because of the investments by the private and the government sector.

Overview of Singapore’s Travel and Tourism Industry

Singapore has recorded an impartial growth in the promotion and expansion of tourism industry. The tourism industry was awfully hit by appreciation of the Singapore dollar in the period 2014-2015 causing reduction in the number of arrivals in the country. Since then Singapore Tourism Board is coming up with promotional activities to give a boost to the sector.

Further, in 2015 inbound tourism showed amazing growth, with number of trips increasing to 12.1 million from 9.2 million in 2010. The contribution of travel and tourism to Singapore GDP was S$38.48 billion in 2014. The contribution to total employment by tourism sector was recorded at 8.4% for the year 2014. Investment in the sector was observed at 18% of the total investment. The most favourite destination for Singapore travellers in 2015 was Malaysia, with 47.4% of total outbound trips. The domestic trips totalled 152,691 only in 2015 while there were 8.8 million outbound trips. India is one of the most important foreign source countries for Singapore. The year 2015 welcomed one million Indians to Singapore, showing a growth of 7.5% from 2014.

Key Driving Factors in Singapore Travel and Tourism Industry

A large number of factors led to a rise in travel and tourism industry in Singapore. One such factor is promotional activities both domestic and in foreign countries. Many promotional activities in tourism sector have been introduced since 2015. Thus, huge promotional and advertising methods with influencing capabilities have been promoted in and outside Singapore to witness a continuous growth in the tourism sector. Singapore Tourism Board schemes include foreign partnerships, such as with MasterCard and Alitrip.

Further, Singapore has amazing geographical location in Asia, which makes it one of the most popular tourism spot. Indonesia, China and India are the leading countries in the respective order to contribute to the Singapore tourism industry. In 2015, the number of arrivals plunged from countries like Japan, Indonesia, Malaysia and Australia because of strapping appreciation of the Singapore dollar against the currencies of respective countries. According to Singapore Tourism Board, India is considered one of the largest foreign source markets. The main driving factor for Indians to visit Singapore is leisure. One million Indian tourists ravelled to Singapore in 2015, showing a growth of 7.5% from 2014. In January 2016, Singapore Tourism Board launched a week-long road show in India’s major cities: Mumbai, Bangalore, New Delhi and Chennai to promote tourism. For future opportunities, the tourism industry in Singapore will get S$700 million over the coming five years by the government. Three crucial sectors in tourism are targeted for the purpose: cruises, technology and manpower.

Some of the key factors that have led to growth of travel and tourism industry in Singapore are:

• Promotional activities
• Foreign partnerships
• Government funds
• Rising middle income population

Future of Travel and Tourism Industry

Appreciating Singapore dollar is continuous threat to the travel and tourism industry of Singapore. Though Singapore has acquired benefit from the tourism industry due to increasing consumer spending but the country needs to take appropriate steps to face future issues. However, it is believed that Singapore will remain a top choice for travel and the is expected to grow at 6.56% pa till 2020. Rise in government investment in the sector and promotional activities would prevent the downfall of tourism industry. The total contribution of the sector to GDP is anticipated to increase to S$55 billion by 2020.

To know more on “Travel and Tourism in Singapore to 2020” click on following link:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-singapore-2020/32000-94.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

• Singapore Tourism is forecasted to grow in coming years
• Government will provide S$700 million fund to boost key tourism factors like the cruise industry

Ken Research announced its latest publication on, “Travel and Tourism in Singapore to 2020” which provides a detailed analysis of the Singapore Tourism Industry. Category-wise coverage of different segments is also included in the report. In addition, the report provides appropriate understanding of tourism flows, expenditure, airline, hotel, car rental, and travel intermediaries industries.

Singapore tourism industry faced headwinds in the year 2014 due to global economic conditions and strong position of the Singapore dollar in the market. Singapore Tourism Board has a major role to play to boost the tourism sector in the country. Enormous growth was observed for the inbound tourism in Singapore during 2010-2015. Number of trips increased from 9.2 million to 12.1 million in 2015. Tourism promotion campaigns by the Singapore Tourism Board attributed to this huge growth. Indonesia, China and India are the leading countries in the respective order to contribute to the Singapore tourism industry. In 2015, the number of arrivals plunged from countries like Japan, Indonesia, Malaysia and Australia because of strapping appreciation of the Singapore dollar against the currencies of respective countries. Singapore Tourism Board is putting efforts to push inbound tourism growth like promotional activities, foreign partnerships, such as with MasterCard and Alitrip. A CAGR of 6.56% for inbound tourism is anticipated for the coming years till 2020.

Global Tourism Industry

Travel and tourism worldwide is forecasted to show strong growth than previous years. The year 2015 was marked with one of the slow growing year for the industry due to recession in few countries and slow economic growth in other regions. However, decrease in oil prices is anticipated to improve the sector. The industry’s contribution to the worldwide GDP is expected to increase by nearly 3.6% for the forecasted period.

Some trends driving the global tourism industry include:

• Increasing disposable income
• Stable economy
• Rising domestic consumer spending
• Government investments
• Promotional activities

Key Topics Covered in the Report:

• Detailed analysis of Singapore Travel and Tourism Industry
• Value and volume analysis for Singapore Travel and Tourism Market
• Historic and Forecast analysis
• Key issues and trends in the Tourism industry
• Visitor trend framework
• Analysis of mega-trends
• Profiling of new schemes launched in the Singapore Travel and Tourism Market 

To know more on coverage, click on the link below:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-singapore-2020/32000-94.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

• Malaysia is forecasted to meet 36 million tourists target by 2020 and bring in revenue of USD 52.4 billion
• Inbound trips, domestic trips and international trips are expected to grow over the forecast period.

Ken Research announced its latest publication on, “Travel and Tourism in Malaysia to 2020” which discusses detailed analysis of tourists spending patterns on different categories such as hotels, food, accommodation and travel.  Report also contains the consumer trends and the major drivers in the tourism industry describing the market penetration and future potential of industry. In addition, detailed distribution and packaging data in the report enables the reader to interpret future outlook on how the market will shape up by the end of this decade.

Malaysia registered millions of tourists and received huge receipts as earnings in 2014. It was the second largest resource for influx of foreign exchange to the country but there came a turning point in the tourism industry and there was a drop in country’s foreign exchange reserves. Malaysia witnessed two air tragedies which involve flight MH370 which disappeared in March and flight MH17 was shot down on July 17. After these accidents, tourists do not have same enthusiasm for a tour to Malaysia and they started choosing other destinations over Malaysia. Also the negative publicity regarding security by foreign media caused a huge loss to tourism industry in 2015. There was a significant drop in number of tourists from 2014 to 2015. However, market is expected to grow and recover in 2016, and major reason could be depreciation of Malaysian currency. Depreciation of Malaysian currency is helping tourists to roam in Malaysia at lower cost.

Tourism is supporting the growth of various sectors. Hotel industry and transport intermediaries are reaping the maximum benefits. It is creating both wealth and employment resulting in growth of Malaysian economy. Every country is promoting its tourism industry to increase its reserve of foreign exchanges as a result there is a divergence of tourists from Malaysia to other economies thus decline in tourists arrivals. Malaysian outbound trips and domestic trips captured a satisfactory share in 2015.

In 2016, Malaysian government launched e-Visa programme.  Malaysia is expecting half of the tourists from China and this e-Visa programme is the initial step to help achieve the goal and for the development and expansion of tourism industry. Additionally, Malaysia has announced its new tourism ambassador, Shila Amzah to boost arrivals from china. She has won the hearts of the Chinese after becoming the champion of Asian Wave (a Chinese show). Also, Malaysian government announced a visa-waiver programme for Chinese tourists in expectation of influx of tourists. Under this programme, Chinese can visit Malaysia for not more than 15 days.

Key Topics Covered in the Report:

• Detailed analysis of Malaysian tourism industry
• Value and volume analysis for Malaysian tourism industry
• Historic and Forecast value analysis
• Key issues and trends in the tourism industry
• Consumer trend framework
• Analysis of mega-trends

To know more on coverage, click on the link below:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-malaysia-2020/31999-94.html

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Ken Research announced its latest publication on, “Travel and Tourism in Colombia to 2020”, offer insights on the changing trends and key issues within the Travel & Tourism Sector in Colombia. The publication includes an insightful analysis of demand-side dynamics, tourist flows, expenditure patterns, tourism related intermediate industries along with emerging growth opportunities and challenges inthe Travel & Tourism Sector in Colombia. The analysis of the aforementioned trends has been done across key categories within the sector: domestic tourism, inbound tourism, and outbound tourism. The report also includes analysis of trips by purpose, mode of transport and customer type-leisure and business travellers.

Brief Overview of Travel & Tourism Sector in Colombia

Colombia’s Travel & Tourism sector is crucial to its economy. The sector has consistently increased its contribution to the GDP. Presently the sector contributes around 2.2% to the GDP. The spectacular growth of the Tourism sector in Colombia has even outpaced the global tourism growth rates as well as the average tourism growth rate of all the South American countries. With rich and diverse geography as well as unique biodiversity, Colombia has a great potential for eco-tourism as well. Some of the popular places to visit in Colombia include:Bogota, Cartagena, Medellin, Amazon and the Andean regions; the Caribbean & Pacific Coasts; the desert of La Guajira etc.

Looking at the present scenario, Colombia’s tourism sector is growing with strong growth rates. Two key events influencing the tourism sector in the country are: Home currency depreciation &improved safety on account of signing off ceasefire agreement between the govt. and the FARC rebels. Improved safety has positively affected the growth of the sector. While weakening of the peso has significantly changed the consumer preferences over domestic, inbound & outbound trips. Due to weak peso Colombians are turning to domestic trips over outbound trips. Also, as a result of weak peso, inbound tourism has witnessed remarkable growth over last few years: 8.2% in 2013, 7.4% in 2014, and 16.3% in 2015. International arrivals, largely from US and Venezuela, totalled 2.3 million in 2015. Outbound tourism has been suffering as a result of falling value of peso. Outbound trips declined by -1.3% in 2015 while expenditure declined by -0.6%.

Government also plays an important role in the tourism sector. As for example, introduction of the new tax policy which exempts foreign tourist from paying sales tax on tourism related services; construction plan of new airports while renovating and expanding the existing ones; are totally government efforts for developing the tourism sector in Colombia. However, high congestion at airports urging the immediate construction and expansion of the airport capacity will be a serious challenge to the government as well as for the overall tourism sector.

Key Factors Driving Growth in Colombia’s Travel & Tourism Sector

The strong performance of the Travel & Tourism sector in Colombia over the last several years is due to various factors influencing the demand-side dynamics offering vast growth opportunities to the market players and encouraging them to strategize their business actions accordingly. This ultimately leads to expansion and development of the overall tourism sector. Since, Tourism sector is a crucial part of a country’s economy, hence, government participation through increased investment in tourism related development plans has also played a crucial role in the growth of the sector.

Key factors driving growth in Colombia’s Travel & Tourism sector include:

• Depreciation of home currency

Weakening of Peso has significantly influenced consumer preferences over domestic, inbound & outbound trips. Colombians have turned to domestic trips; hence, declining international departures have led to negative outbound tourism growth.  On the other hand, inbound tourism has witnessed impressive growth.

• Improved Safety

Signing of the ceasefire agreement between Colombian Govt. & the FARC rebels to end the 50 years conflict is expected to have a significant impact on international arrivals.

• New Tax Policy

Govt. aiming to enhance the tourism sector outlook has introduced a new tax policy which exempts foreign tourists from the 16% sales tax (VAT) on tourism-related services. This will further boost the rising inbound trips.

• Airport Capacity Expansion &Increasing flights to Colombia

To reduce congestion at airports, govt. has come up with various plans of construction of new airports. Also, the number of domestic as well as international flights to Colombia has been increasing over years. These factors greatly support the tourism sector growth.

• Great Potential for Eco-tourism

With very rich and diverse geography, including the Amazon and the Andean regions; the Caribbean & Pacific Coasts; the desert of La Guajira etc. along with the presence of unique biodiversity, Colombia has great potential for eco-tourism.

Future of Colombia’s Travel & Tourism Sector

Starting from a relatively low base, tourism sector has shown remarkable performance and is expected to continue with the spectacular growth over several coming years outpacing the tourism market in the South American region. Weakening of the peso and improved safety will play a crucial role in driving tourism sector growth over the coming years. Other factors will reinforce the growth momentum. Weak peso will continue to support domestic and inbound tourism growth while leading to decline in outbound tourism growth. Over the forecast period, domestic trip are projected to grow at an average annual rate of 5.7%, to reach 32.6 million domestic trips by 2020; inbound tourism is forecasted to grow at a CAGR of 6.7% to reach 3.2 million international arrivals by 2020; and declining outbound tourism is expected to reach 5.1 million by 2020.

The construction of new airports as well as expansion of the existing ones will reduce congestion at airports and also serve in accommodating the rising international arrivals. The implementation of the sales tax exemption policy for foreigners on tourist related services will lead to further rise in inbound trips.

Thus, we can say that Colombia is increasingly focusing on their tourism sector growth so as to firmly establish the country as a leading international tourist destination on the global platform. 

Companies Covered

-        Avianca

-        Lan Colombia

-        VivaColombia

-        Copa Airlines Colombia

-        Satena

-        GHL Hotels

-        Hotels Estelar

-        Hotels y Resorts Decameron

-        InterContinental Hotels Group

-        Hotels Royal

-        Hotels Laureles Estadio

-        Hilton Hotels and Resorts

-        Operadores Hoteleros Santorini

-        Solar Hotels and Hotels Dann

To know more on coverage, click on the link below:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-colombia/39462-94.html

Related Reports:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-in-cyprus-to-2020/37551-94.html

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-malaysia-2020/31999-94.html

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