TRAVEL AND TOURISM IN BHUTAN
Euromonitor International has published a new consumer goods market report on the existing tourism market in the country titled ‘Travel and Tourism in Bhutan’.
The report offers a comprehensive guide to the size and shape of the Bhutanese tourism market at a national level.
Its status as an exclusive tourist destination, says the report, has been assisted by a tourism policy that discourages mass tourism.
The report also gives an overview of the daily tariff.
‘Daily tariff rises to US$250 was announced in 2008, that the daily tariff that all non-Indian tourist arrivals must pay to tour operators in order to enter Bhutan, would rise from US$200 to US$250, which given the appreciation of the United States dollar in 2008, translates into a far greater increase when measured in BTN (Bhutan Tourism Monitor).
According to the report, the rise in daily tariff has a large impact on the nature of the tourist industry, which had previously been characterized by cost cutting and declining standards. The report includes various product coverage like car rental, demand factors, health and wellness tourism and other tourism services.
The new consumer goods market report also provides the latest market size data (2002-2007), allowing to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors.
For instance, there was an increase in the number of premium international hotels, such as the Taj and the Aman chains, operating in the country since 2008. Such hotels continue to be attracted to the country due to the affluent nature of its tourism sector.
Indeed, the Aman hotel chain is currently in the process of constructing six hotels throughout the small kingdom.
In addition to increased daily tariff fees, new tourism regulations also insist that all tourists travel with official tour operators and guides and independent travel is prohibited.
Back ground information on disposable income, annual leave ,holiday taking habits, and forecasts to 2020 illustrate how the market is set to change are also included in the report.
Priced out of the market for many years, Bhutan has attempted to discourage budget travelers and instead attract high spending tourists.
However, the global economic slowdown is likely to result in a significant drop in demand within the premium travel sector with the result that tourism will go from being one of the best performing segments of the country’s economy to one of the worst, states the report.
Consequently, it further suggests that a period of consolidation within what has previously been a very fragmented market can be expected.
Source: bhutantoday