Arev tourism forecast, August 2019

The monthly average annual number of tourists is now around 2.2 million. The forecast predicts that the average will fall to 2.0 million before tourist numbers begin to increase again.

The right-hand axis of the chart on the left shows that, until mid-2017, the monthly annual average continued to increase proportionally. In 2017, this began to reverse and the situation is now such that the monthly annual average has been decreasing by 17-20%. In June and July 2019, the decrease was 17%. The monthly annual average is now around 2.2 m. It is not unlikely that the annual average will reach 2.1 m by the end of the year. WOW began to significantly reduce its supply in September 2018, and it can therefore be expected that from September 2019, the relative decline in the average will significantly slow down.

The picture on the left shows this better. According to Arev, the 12-month average will fall before the end of the year but will then start to rise again. The average will fall to 2.0 million by the end of the year, and the total number of tourists for the year 2019 will be around or over 2.0 million. Arev then set up two other scenarios. According to the optimistic scenario (the green line), the 12-month average number of tourists in 2019 will fall to just over 2.1 million and will start to grow again. According to the pessimistic scenario (the yellow line), the 12-month average number of visitors will fall to just over 1.9 million before it starts to grow again.

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