Germany - Travel & Tourism: A culturally rich tourism industry (Strategy, Performance and Risk Analysis)
Germany is one of Europes leading travel and tourism destinations, as it emerged from the global financial crisis and subsequent European debt crisis with a strong position in terms of both leisure and business travel. According to the World Economic Forums Travel and Tourism Competitiveness Index 2016, Germany is ranked among the top 50 safest travel destinations in the world.
Germany has the second largest car rental market in Europe. Its total fleet size increased at a CAGR of 5.1%, from 2.2 million in 2012 to 2.7 million in 2016, mainly because of its widespread geographical area, which is well connected by roads and an advanced car rental system. An increase in rental occasions and rental days also contributed to growth in the car rental market.
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Government initiatives and full-service airlines are the key drivers
Passenger airlines total revenue witnessed a CAGR of -0.5%, from US$42.3 billion in 2012 to US$41.5 billion in 2016, due to terrorist attacks in the European region, as well as competition from other modes of transport, which largely affected domestic airlines traffic. However, it is forecast to increase at a CAGR of 6.8%, from US$44.4 billion in 2017 to US$57.8 billion in 2021. The German airlines market is expected to revive over the forecast period, led by growth in full-service airlines, which accounted for US$36.4 billion in 2016. Government initiatives to increase passenger handling capacity by undertaking new airport development projects, new routes to improve connectivity, and the increasing penetration of low cost airlines will be driving factors.
Non-airport locations represent a significant part of the market
Germany has the second largest car rental market in Europe, both in terms of revenue and size. The countrys total fleet size increased at a CAGR of 5.1%, from 223,694 in 2012 to 273,458 cars in 2016, and is forecast to increase at a CAGR of 1.1% over 2017-2021 to reach 286,248 cars. The growth in fleet size is largely fueled by an increase in domestic and international tourists and business events. Leisure accounted for the majority of car rental purposes. The majority of car rental revenue is generated from non-airport locations. In 2016, non-airport car rental value accounted for 50% of the total, while leisure car rentals accounted for 52.7% and business car rentals accounted for 47.4%.
Digitization one of the main drivers to shape the industry
Germanys hotel revenue witnessed a CAGR of -0.6%, from US$13.0 billion in 2012 to US$12.7 billion in 2016. However, it is forecast to increase at a CAGR of 5.9%, from US$13.5 billion in 2017 to US$16.9 billion in 2021. Growth in hotel revenue is supported by the growing domestic and international tourism market, simplification of the hotel industry with digitization, and the recent merger of the hotel giants Marriot and Starwood.
- Risk & Reward Index - The Risk & Reward index compares the lucrativeness of the German travel and tourism industry vis--vis other countries in the region in terms of specific risk and reward parameters.
- Industry Snapshot and Industry View - Key travel and tourism industry statistics, including total revenue and expenditure for key industry segments, and the trends driving market performance in the German travel and tourism market.
- Industry SWOT Analysis - Discover the strengths, weaknesses, opportunities and threats impacting market performance and investments in the German travel and tourism market.
- Industry Benchmarking - Benchmark how the German travel and tourism market is performing compared to regional and global markets in terms of car rental fleet size, car rental revenue, number of hotels, hotel revenue, passenger airline revenue, seats available and seats sold, revenue of travel intermediaries and tourism expenditure growth.
- Competitive Landscape - Overview of the relevant players in the German travel and tourism industry, such as airlines, hotels and car rental companies, with each player in the relevant category compared with its peers in terms of relevant industry indicators.
Reasons to buy
- How is the market performing in terms of indicators such as total tourist visits, passenger airline seats sold, seats sold by purpose of visit such as leisure, revenue, room nights available, room nights occupied, hotel revenue, car rental days among others.
- How risky is it to invest in the German travel and tourism industry compared to other countries in the Europe?
- What is driving the performance of key industry segments such as passenger airlines, accommodation and car rentals?
- Who are the leading players in the German travel and tourism industry and their overview and product portfolio?
- What trends are being witnessed within the German travel and tourism industry?
- What are the German travel and tourism industrys Strengths and Weaknesses and what Opportunities and Threats does it face?
- What are the recent developments and innovations in the German travel and tourism industry?
Risk & Reward Index 3
Industry Snapshot 7
Industry View 10
Industry SWOT Analysis 14
Industry Benchmarking 20
Industry Performance 30
Competitive Landscape 43
Key Developments 64
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