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Potential in the Tourism Sector of Serbia

24.03.2015  13:09

The image of Serbia as a tourist destination has been gradually improved with big annual festivals which have helped to attract tourists from Western-European markets notably Germany and the UK. Also the amount of Danish tourists rose 78% in 2013. There is further a great unlocked potential in the country’s skiing facilities, river rafting, thermal springs, folklore and Danube boat tours. Belgrade has even been mentioned as the successor of the cool German capital Berlin.

In order for Serbia to unlock this potential, new investments in construction and infrastructure are needed. The hotel sector has already seen a minor boom with numerous openings in 2014. Even high-end chains like Marriot and Hilton are expected to start building within a foreseeable future. Infrastructure projects involve transforming military airports so they are able to handle commercial flights in more regions. The airport in Belgrade is planned to undergo significant renovation, attracting more aviation companies.

The report states that with continued public investments and favourable policies, Serbia’s Travel and Tourism sector might outperform the already positive forecasts.

The tourism industry of Serbia is expected to grow 4.5% per annum over the next ten years. This would eventually result in tourism accounting for 6.8% of Serbia’s GDP in 2023. According to the National Bank of Serbia, foreign currency inflow from tourism for the first 11 months of 2014 amounted to US$1.17 billion, which is 8.6% more than in the same period in 2013. The Serbian Ministry of Trade and Tourism have already estimated, judging by the first months of the year, that 2015 will beat the record year 2014.

To read the full report elaborated by the WTTC, The Serbian Ministry of Economy and the National Tourism Organization of Serbia click here.