Serbia: Serbia Tourism Profile 2012
2012/03/30
Serbia Tourism Profile 2012
Analyse of the sector 30/11/2010
Tourism in Serbia driven by domestic demand
Tourism in Serbia driven by domestic demand
As the largest country in the region, Serbia has considerable domestic demand for its tourism industry. The growing prosperity of the country has made domestic tourism the most important driver for tourism growth by value. However, growing prosperity has also resulted in rising demand for foreign travel. Serbia will have to work hard to attract incoming tourists, especially without any coast to develop beach tourism, in order to keep a healthy balance of payments in tourism.
Inbound tourism growth slower than neighbours
The tourism industry results showed that tourist destinations and attractions which proved successful in attracting domestic demand also attracted foreign tourists as well. The capital Belgrade together with Exit and Guca festivals attracted foreign tourists in ever larger numbers each year of the review period. Arrivals and incoming receipts continued to grow in 2008 despite the start of the global economic recession. However, the attractions and destinations to attract foreigners are too few to have a really significant impact on Serbian growth. In fact it is entirely possible that tiny neighbouring Montenegro will surpass Serbia for occupancy in the near future.
Outdated tourist infrastructure needs more investments
Serbian tourism industry badly needs more investment to become more attractive to foreign tourists. Unfortunately the investment rate is still not high enough for the renovation of the tourist infrastructure that was left decaying over the past two decades. Some foreign investment has starting to flow in but the government still owns some of the largest companies such as JAT national air carrier and Kopaonik ski resort. In the face of the worsening economic situation it is unlikely that the government will choose to invest in these companies to the degree foreign investment would.
Travel agencies are still the traditional booking channel
The travel retail industry is well developed and efficient in Serbia and it plays an important role for outgoing as well as domestic and incoming tourism. Independent travel is also popular, as Serbs like to organise their own trips. Online bookings increased steadily over the review period but are still small due to low internet accessibility. Internet reservations are expected to increase fast over the forecast period together with internet penetration, especially in air transportation and car rental.
Tourism in Serbia is bound to develop
Incoming tourism to Serbia cannot match the rate of tourism development in neighbouring Bulgaria and Montenegro due to it being a landlocked country. However, it is predicted to record a robust growth over the forecast period thanks to the numerous tourist attractions and resources of the country. Domestic and especially outbound tourism is also expected to grow over the forecast period driven by rising disposable income.
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