tourism & leisure - Ιδιώτες€¦ · The tourism sector’s contribution to GDP remained...

Sectoral Survey - 2nd HALF OF 2017

tourism & le isure

TABLE OF CONTENTS

{12} Usage & reported frequency of visit

{14} Expected costs over the next 12 months compared to last year

{21} Short breaks{16}

{16}-

- {17}

- {19}

- {19}

Winter holidaysWhere they plan to spend their winter holidays

Reasons for spending their winter holidays in Cyprus vs abroadWhere they plan to spend their winter holidays

Reasons for spending their winterholidays abroad vs in Cyprus

{06}

{09}

Industry Economic Overview

Executive summary {23} Research Specifications

industry economic overview

6

TOURISM: EMPLOYMENT AND UNEMPLOYMENT

NET BED OCCUPANCY RATE BY HOTEL CATEGORYINDUSTRY’S CYCLE AND CONTRIBUTION TO GDP

The tourism sector’s contribution to GDP remained stable over the period of the economic crisis, with increased contribution in the last three years.

2009-2016 clear upward trend for 3*, 4* and 5*. 2009-2012 steady trend for 2*. 2012-2015 downward. 2015-2016 upward trend. 2009-2016 slight upward trend for 1*.

Tourism is a sector exhibiting clear seasonality. Unemployment is decreasing significantly over the latest quarters. The decrease in unemployment is accompanied by a significant increase in employment.

*

* *

INDUSTRY ECONOMIC OVERVIEW

Tourism

TH

OU

SA

ND

S O

F W

OR

KE

RS

TH

OU

SA

ND

S O

F W

OR

KE

RS

20

10

q1

20

10

q3

20

11

q1

20

11

q3

20

12

q1

20

12

q3

20

13

q1

20

13

q3

20

14

q1

20

14

q3

20

15

q1

20

15

q3

20

16

q1

20

16

q3

20

17

q1

20

17

q3

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

20,000

25,000

30,000

35,000

40,000

45,000

Employment - left axis Unemployment - right axis

% G

RO

WT

H R

AT

E

% O

F G

DP

-10%

-5%

0%

5%

10%

15%

0%

1%

2%

3%

4%

5%

6%

7%

8%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Tourism (% share of GDP) Tourism % growth rate (Y-o-Y)

% O

CC

UP

AN

CY

RA

TE

5* 4* 3* 2* 1*

0

20

40

60

80

100

2009 2010 2011 2012 2013 2014 2015 2016

7

TOURISM ARRIVALS TOURISM REVENUES

2016 was a record year for Tourism revenues. The positive trend continues in the first 9 months of 2017 where a new record is expected.

Arrivals

-20%

-10%

0%

10%

20%

30%

40%

50%

20

13

M0

9

20

14

M0

1

20

14

M0

5

20

14

M0

9

20

15

M0

1

20

15

M0

5

20

15

M0

9

20

16

M0

1

20

16

M0

5

20

16

M0

9

20

17

M0

1

20

17

M0

5

20

17

M0

9

Revenues

-30%-20%-10%

0%10%20%30%40%50%

20

13

M0

9

20

13

M1

2

20

14

M0

3

20

14

M0

6

20

14

M0

9

20

14

M1

2

20

15

M0

3

20

15

M0

6

20

15

M0

9

20

15

M1

2

20

16

M0

3

20

16

M0

6

20

16

M0

9

20

16

M1

2

20

17

M0

3

20

17

M0

6

20

17

M0

9

2016 was a record year for Tourist arrivals. The positive trend continues in the first 9 months of 2017 where a new record is expected.

* *

9

EXECUTIVE SUMMARYThe consumers’ habits remain stable compared to the first half of 2017 regarding going out, since the majority of the respondents mention again that they frequently go out for food. As in March 2017, cultural activities are mentioned to be used by a smaller proportion of the population with a lower frequency.

Only one out of four reports intention for winter holidays with duration of more than 3 days, but also nearly four out of ten report intention for relatively shorter winter holidays of less than 3 days duration.

Winter holidays abroad are mainly preferred for visiting friends / relatives and gaining new experiences, in contrast to the winter holidays in Cyprus which are mostly preferred due to a lower cost.

tourism & le isure

12

Without any substantial changes from the March survey, the dining areas (taverns, restaurants) maintain high usage

with relatively high frequency, while the lowest penetrations but with relatively high frequencies are seen at activities of targeted

audiences like playgrounds, sports events and gyms.

13

Usage & reported frequency of visit(Predefined places list)

Taverns Restaurants

Reported frequency of visit

times a month1.8Reported frequency of visit

times a month2.4

Cinema / Theater

Reported frequency of visittimes a month0.8

Concerts / Festivals Club / Bar / Pub



times a month2.6

Music stages

Reported frequency of visittimes a month0.9

Playgrounds Sport Events



times a month2.3

Gyms


times a month12.2

U S A G E

79%U S A G E

48%

U S A G E

44%U S A G E

42%U S A G E

38%

U S A G E

35%U S A G E

32%U S A G E

23%

U S A G E

82%

14

The cultural activities (cinema / theatre, concerts / festivals, music

stages) and youth entertainment (club / bar / pub) as in the first half

of 2017, show a weak trend of lower expected expenditure

the next 12 months.

Expected costs over the next 12 months compared to last year

Taverns

Restaurants

Cinema / Theater

Playgrounds

Club / Bar / Pub

Sport events

Concerts / Festivals

Gyms

Music Stages

EXPECT TO SPEND MORE

EXPECT TO SPEND THE SAME(SPONTANEOUSLY MENTIONED)

EXPECT TO SPENDLESS

NON USERS

17%

16%

10%

9%

8%

6%

6%

6%

5%

44%

44%

24%

17%

16%

17%

21%

14%

19%

19%

17%

13%

8%

17%

9%

16%

3%

13%

18%

21%

52%

65%

58%

68%

56%

77%

62%

16

Winter holidays(More than 3 days)

Where they plan to spend their winter holidays(Multiple answers)

In Cyprus

Abroad

Not going on holiday

DK/NA

Those who said they would take HOLIDAYS IN CYPRUS (8%)

8%

19%

73%

2%

25% Plan to have winter holidays, more than 3 days

24%

20%

17%

15%

11%

4%

Can’t afford holidays abroad

Cheap accommodation

Family reasons

Don’t have time for long vacations

Own vacation house in Cyprus

I will go to my home village

In Cyprus

Abroad


DK/NA


8%

19%

73%

2%


24%

20%

17%

15%

11%

4%


Cheap accommodation

Family reasons




17• 1 out of 4 report that they

plan winter holidays (of more

than 3 days), either in Cyprus

or abroad.

• The most important reason

for choosing Cyprus is the

expected lower costs.

Reasons for spending their winter holidaysin CYPRUS VS ABROAD

In Cyprus

Abroad


DK/NA


8%

19%

73%

2%


24%

20%

17%

15%

11%

4%


Cheap accommodation

Family reasons




8%

19%

73%

2%


Those who said they would take HOLIDAYS ABROAD (19%)

Sports events

Visiting friends / relatives

New experiences

Cheap air tickets

Cheap accommodation

Break from the usual

Relaxation / recreation

Visiting museums and sights

Winter sports

40%

29%

13%

12%

6%

6%

5%

2%

1%

In Cyprus

Abroad


DK/NA

19

Out of those who mention that they plan winter vacations abroad, 7 out of 10 mention visiting

friends / relatives and gaining new experiences as the main

reasons for going abroad.

Reasons for spending their winter holidays ABROAD VS IN CYPRUS8%

19%

73%

2%



Sports events


New experiences

Cheap air tickets

Cheap accommodation




Winter sports

40%

29%

13%

12%

6%

6%

5%

2%

1%

In Cyprus

Abroad


DK/NA

Where they plan to spend their winter holidays(Multiple answers)

8%

19%

73%

2%



Sports events


New experiences

Cheap air tickets

Cheap accommodation




Winter sports

40%

29%

13%

12%

6%

6%

5%

2%

1%

In Cyprus

Abroad


DK/NA

Winter holidays(More than 3 days)

21

Short breaks(Up to 3 days)

Where they intent to take short breaks (Multiple answers)

1 in 3 claim an intention for some short breaks

(less than 3 days) either in Cyprus or abroad.

38% Report their intention to take short breaks locally and abroad breaks, up to 3 days

In Cyprus

Abroad

29%

10%

60%I won't go for short excursions

38% Report their intention to take short breaks locally and abroad breaks, up to 3 days

In Cyprus

Abroad

29%

10%

60%I won't go for short excursions

22

IMPORTANT INFO ON TOURISM & LEISURE

“It’s extremely important for any company to associate itself with a credible bank, like Hellenic Bank”

Evan GavasGeneral Manager, Cypin

The Business Division’s primary and perennial goal is to continuously provide upgraded and ever-improving qualitative services to large businesses, public companies and semi-governmental organisations that operate in Cyprus. A basic element in the achievement of this goal is a profes-sional, friendly and effective customer service, as well as the provision of consulting services to address customers’ current and future needs.

The Business Division, in cooperation with other units and departments of the Group, provides integrated solutions which include the full range of products and services:

businessdivision

ContactsΠέτρος Πίλης Business Center 119

(Nicosia, Larnaca & Famagusta)Τ: 22501884 E: [email protected]

Χάρης Μιχαήλ Business Center 219(Limassol & Paphos)

Τ: 25502398 E: [email protected]

Κυριάκος Κουννής Business Center 219(Limassol & Paphos)


Μαρία Μπαϊρακτάρη Business Center 219(Limassol & Paphos)


yourbusiness

expert

• Overdraft accounts • Long-term loans • Short-term loans

• Hire purchase loans • Factoring facilities • Letters of credit

• Trade finance • Letters of guarantee • Credit cards (company and personal)

23

• Sample Size: 600 Successful Interviews.

• Sample Geographical Coverage: National, person in age group 18 - 70.

• Data Collection Period: December 2017.

• Sampling Methodology: Random Multistage Stratified.

• Data Collection Methodology: CATI.

• Comparisons are presented with March 2017 results.

• Assignment:

• Implementation:

2nd HALF OF 2017

Not all figures add up to 100% due to rounding of percentage estimates and the possible exclusion of “No Answer” and “Don’t know” responses.

RESEARCH SPECIFICATIONS

https://businessblog.hellenicbank.com

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