The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Romania's tourism market presents significant growth potential. The country offers a broad
range of attractions catering to most holiday markets and is gradually becoming more accessible via
improving air, road and rail transport connections. The low cost of travel and services means Romania is a
highly affordable holiday destination for most source markets and there is potential for it to rival more
established Central and Eastern Europe short-break destinations such as Prague and Budapest. We are
forecasting healthy growth in arrivals to the country over the short- to medium-term, though we do note
Romania's tourism industry remains vulnerable to regional economic decline due to its overreliance upon
Key Updates And Forecasts
? Demand is reportedly rising at Romania's seaside resorts, with the Romanian Tourism Employers
Federation noting that bookings surged in August 2016 as Romania benefits from a downturn in travel to
Crimea as a result of the ongoing conflict in Ukraine and tensions with Russia. The rise in visitors looks
set to boost investment in accommodation with capacity in the area expected to grow by 5% in 2017.
? Despite receiving approval from the European Commission to join the Schengen Zone in April 2016,
which allows for visa free travel throughout member states, Romania's accession to the scheme remains
blocked by opposition from states France and Germany and is unlikely to progress in the near-term.