South Korea, Spain and Vietnam Tourism Report Q2 2016; New Report Launched

South Korea's tourism market will continue to grow healthily in the next five years, despite initial fears that the MERS outbreak of May 2015 may damage it. The government is promoting effectively a tourism market that caters well for both leisure holidays and business travellers (MICE) in search for tourist attractions in between conferences. Along with the approaching 2018 Winter Olympics, these should create significant opportunities for the development of the hotel sector, which remains under-developed to this day. Meanwhile, the increase in the number of tourist arrivals, especially from the Asia Pacific, will continue to drive up international tourism receipts value.

Key Updates And Forecasts

• International, low-cost air connections continue to expand, with the launch of the following additional routes: Eastar Jet to Japan, T'way air to Macau, Jeju Air to Vietnam and Jin Air to Honolulu.
• Overall, tourism market is expected to expand rapidly over the forecast period, with total arrivals set to reach over 17.6mn by 2019.
• The healthy increase in tourist arrivals will continue to drive up international tourism receipts value, at an average rate of 7.8% per year, reaching USD36.9bn by 2019.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/south-korea-tourism-report-q2-2016

We expect tourist arrivals to Spain to continue increasing in 2016, reaching 69.7bn. This will be driven primarily by arrivals from the top European source markets, which economies are recovering and which citizens will continue to be seeking short breaks on Spanish beaches (such as Germans and Britons).

Another key driver, in the longer term, will be the return of MICE events to Barcelona and Madrid, which will incidentally also provide new opportunities in the high-end hotel sector. Spanish economic recovery will also see more Spaniards travelling abroad, but many will continue to holiday also in their country.

Key Updates And Forecasts

• We have revised our previous tourism arrival estimate for 2016 and raised it from 2.7% to 2.9% to reflect the economic recovery experienced by some of the country's top source markets.
• The new REIT (Real Estate Investment Trust) system implemented last year has brought on an increase in hotel sector investment, of which Hispania and Merlin Properties were the two major investors.

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Tourism is a growing industry in Vietnam and the sector has experienced some growing pains in recent years. Poor service standards and uncertainty surrounding visa and investment regulations have contributed to slowing growth rates and for much of 2015 international arrivals figures fell. We do expect to see a recovery in 2016 as Vietnam continues to invest in improving accommodation options and standards and becomes more accessible for visitors from outside of the Asia Pacific region. Investment in transport infrastructure, particularly air travel, will also provide a supportive boost to the travel industry. As such we are forecasting growth across all key market indicators over through to 2020.

Key Updates And Forecasts:

• Following a contraction in 2015, we are forecasting a return to growth in Vietnam's inbound tourism market in 2016 and expect government targets of 8.5mn international arrivals to be largely achievable. Extensive marketing and service improvement campaigns and an expansion in regional and global air connectivity will support further growth in inbound tourism throughout the remainder of the forecast period to 2020.
• Vietnam presents an increasingly attractive investment destination and the hotel sector is expanding, both in established destinations and in up and coming tourism areas. Major hotel groups such as Accor and Starwood have several new hotels due to open over the course of the forecast period.
• Regional markets such as China, Japan and South Korea continue to account for the vast majority of arrivals to Vietnam. Visitor figures have fluctuated over recent months, impact both by economic trends and regional political tensions, highlighting Vietnam's vulnerability to a decline in regional travel and the importance of diversifying source markets over the long term.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/vietnam-tourism-report-q2-2016