Tourism revenues of Budapest could increase by up to EUR 1 billion

According to mno.hu, tourism revenues of Budapest can increase by up to 1 billion euros, Roland Berger consulting firm’s comparative study of 13 European cities says.

Turizmusonline.hu wrote, citing the study: during the past 5 years, the number of nights spent in Budapest increased by 45%, but the tourism indicators per capita are still low which indicates there is room for further growth.

Among the 13 cities, there is Barcelona, Berlin, Vienna, Lisbon, Bratislava and Prague.

Budapest can become a touristic giant

The results showed that Budapest, based on its features, is capable for become the next touristic giant stepping from an average city destination, following Barcelona or Prague. The Hungarian capital’s value for money is quite high, a visitor can spend a night 17% cheaper here than the average of the examined cities – the portal wrote.

The current Budapest accommodation infrastructure is able to serve the visitors, the occupancy ratio is relatively low, while occupancy rate of luxury hotels is high. The capital’s occupancy ratio is similar to the competitors, but it’s not high enough for the acceleration of bed capacity development. The quality of hostels improved in recent years and community accommodation sharing is also developing.

The growth of urban tourism surpassed the economic growth in recent years; the number of overnight stays, which describe well the turnover of the tourism sector, grew more than the GDP in the examined cities.