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- The trend for domestic tourism has been negative, consistently declining from 2009 to 2013. This has been due to Belgian residents following a cautious approach in terms of spending on travel as the economy has not performed well. GDP at constant prices, when measured in national currency, grew at CAGR of 1.11% from 2009 to 2014. This implies that Belgian residents do not have much disposable income available to them, which limits their spending power. However, growth of 1.7% was recorded in 2014 and domestic trips are projected to reach 2.9 million by 2019
- All categories witness a decline in 2009, with business tourism experiencing maximum decline due to the global recession, meaning there were far fewer inbound trips for business purposes. Countries in Western Europe, such as the Netherlands, France, and Germany were adversely affected by the Euro crisis, which meant there was almost negligible growth in inbound tourism during 2012 and 2013 as these are major source countries for tourism in Belgium (collectively account for about 60% of the trips. Inbound spending is likely to reach EUR14.2 billion (US$201.1 billion) by 2019
- Travel agents play an important role when booking trips such as airline and hotel reservations; however, their role is gradually changing. Now, most people browse hotel and airline websites and book their flights, hotels, and holiday packages directly. As of January 1, 2014, travel agents no longer require a license, which reduces barriers to entry.
- Over the forecast period (2015-2019), their role will transition from agents involved in the selling of holidays to consultants advising tourists about a destination
Brussels Airlines, the flag carrier of Belgium, has been gradually losing market share due to the entry of LCCs. Irish LCC Ryanair plans to increase its passengers through Belgian airports by 20% in 2015, by adding five new routes to Belgium in its 2015 summer timetable
The report provides detailed market analysis, information, and insights, including:
- Historic and forecast tourist volumes covering the entire Belgian Travel and Tourism sector
- Detailed analysis of tourist spending patterns in Belgium for various categories in the Travel and Tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries, and others
- Detailed market classification across each category, with analysis using similar metrics
- Detailed analysis of the airline, hotel, car rental, and travel intermediaries industries
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to the Belgian Travel and Tourism sector
- Understand the demand-side dynamics within the Belgian Travel and Tourism sector, along with key market trends and growth opportunities
Table of Contents
Travel and Tourism Sector in Context
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