We believe that Argentine tourism receipts and industry value will
soar in local currency terms, fuelled by elevated inflation. However, these
same factors will weigh on domestic tourists' spending power and deter some
foreign tourists from visiting Argentina - looking instead to visit less costly
countries. In spite of this, we take a positive view of the longer-term
prospects of the tourism sector, particularly the hotels sector. In particular,
we believe there is a lot of room for the formalisation of accommodation,
providing a positive outlook for growth despite the weak consumer environment.
An uncertain economic climate and perceived political instability, in
conjunction with high costs compared with some of its regional peers, have
resulted in Argentina seeing a decline in arrivals over the first part of 2015.
According to national statistics, tourist arrivals fell by 4.4% in March, 5.2%
in April, 5.3% in May, 3.5% in June and 4.3% in July. We believe that this
downwards trend will slow and then reverse in the second half of 2015. However,
growth will be about half that seen in 2014, with arrivals rising by just 2.5%
in 2015. Consumer confidence and household spending growth in Argentina will
remain robust, even following a likely devaluation in 2016, as government
spending supports disposable incomes. In addition, the higher costs of
holidaying within Argentina relative to many of the country's regional peers
will encourage more outbound tourist trips over 2015 and into 2016.
For
more information on this report, please visit- http://www.marketresearchreports.com/business-monitor-international/argentina-tourism-report-q4-2015
We forecast 4.4% growth in tourist arrivals to Spain in 2015. This
will be boosted by a weak euro, which will have a positive impact on arrivals
from countries such as the UK, US and China. As Spain invests in further
expansion of tourism-related infrastructure, we expect to see further growth in
this welldeveloped market.
We forecast 4.4% growth in Spanish tourist arrivals in 2015 as euro
weakness encourages more eurozone holidaymakers to remain within the currency
bloc while also driving tourist arrivals from non-eurozone member states as
travellers look to take advantage of favourable exchange rates. Our view is
supported by the recent announcement from the Ministry of Tourism that over the
summer months in 2015 Spain has seen a strong increase in arrivals - July alone
saw an uptick of 6% y-o-y. Our projections show full-year 2015 arrivals
reaching 67.8mn, only a fraction under the Spanish Tourism Ministry's target of
68mn.
For
more information on this report, please visit- http://www.marketresearchreports.com/business-monitor-international/spain-tourism-report-q4-2015
