Worst case scenario for tourism industry: Stagnation in 2009

Tourism industry will probably increase by 10%, or in the worst case scenario, it will stagnate, which is however, a positive trend compared to western European countries, said ANAT consultant, Traian Badulescu.

“Tourism industry in Romania is undergoing an uptrend and it is not yet a mature market, as in other Community states. This is why in 2009, the market will continue its upward path, even if the pace will be lower than in earlier years. We don’t exclude a stagnation of the industry, but in the western European countries, given the fact that the market has reached maturity, the industry is already reeling from the shaky economic conditions”, said ANAT representative.

As for next year expectations, ANAT’s representative said that in 2009 we would witness fresh mergers and acquisitions of mid-sized travel agencies, in the context of financial crisis. Furthermore, the lion’s share of mid-sized tour-operators will feel the need of merging or being absorbed by larger players. The small agencies will risk bankruptcy in case they fail to adopt a marketing strategy to cushion the effects of the crisis”, said Traian Badulescu.

“We will see bankruptcies in the domestic tourism industry, but they will mostly register in case of “apartment” operators, because the low volume of sales would not allow them to cover expenditures, or in the best case, there will be no profit”.

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