The travel and tourism sector witnessed strong growth in 2014, particularly in terms of inbound arrivals and inbound tourist expenditure. Inbound tourist arrivals grew by 7.1% in 2014, totalling 10.4 million while expenditure expanded by 7.5% reaching CZK130.3 billion (US$6.6 billion). Increase in arrivals from key source countries, particularly Germany and Italy, has been a key driver of this growth. With an improving economic scenario, arrivals from both, Germany and the Czech Republic increased by 8% in 2014 over the previous year.
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The Czech government is increasingly prioritizing to move tourism beyond concentration in the capital, Prague, and increase the potential of undiscovered places in the country. Most significant source markets are Germany, Russia, Italy, the UK, the US, Slovakia, and Poland while demand is also increasing from remote markets, particularly China and South Korea. Inbound arrivals to the Czech Republic from China increased at a CAGR of 22.35% during the historic period while arrivals from South Korea expanded by 22.83%.
2014 proved to be another successful year for the travel and tourism sector. The sector’s contribution to GDP grew for the third consecutive year in 2014, helped especially by strong demand from international travelers. Direct tourism output totaled CZK229.2 billion (US$11.7 billion) in 2014, representing 5.7% of the GDP. Direct tourism employment as a percentage of total employment stood at 4.7% in 2014, with a total of 234,000 jobs in 2014
The government of the Czech Republic adopted “The State Tourism Policy Concept in the Czech Republic for the period of 2014–2020” in March 2013. The document prepared by the Ministry of Regional Development follows the “State Tourism Policy Concept in the Czech Republic for the period of 2007 - 2013”. The aim of the strategy is to enhance...