DOCSLIB.ORG

Expert Analysis for the Hotel Investments in Austria and Some Other European Countries

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Expert Analysis for the Hotel Investments in Austria and Some Other European Countries Expert analysis for the hotel investments in Austria and some other European countries Jasomirgottstrasse 6/ Xb, 1010 Vienna, Austria Tel. +43 1 2632 555 / Fax: +43 1 2632 555 10 www.austriareal.com www.austriareal.ru info@austriareal 1 TABLE OF CONTENT 1. Introduction ................................................................................................................................................. 4 2. Site .............................................................................................................................................................. 4 2.1 Austrian Economic Overview ................................................................................................................. 4 2.1.2 Other Countries Economic Overview ..................................................................................................... 6 2.1.2.1 Bulgaria ................................................................................................................................................... 7 2.1.2.2 Czech Republic ....................................................................................................................................... 8 2.1.2.3 France ..................................................................................................................................................... 9 2.1.2.4 Germany ............................................................................................................................................... 10 2.1.2.5 Greece ................................................................................................................................................... 10 2.1.2.6 Hungary ................................................................................................................................................ 11 2.1.2.7 Italy ....................................................................................................................................................... 12 2.1.2.8 Poland ................................................................................................................................................... 13 2.1.2.9 Slovak Republic .................................................................................................................................... 13 2.1.2.10 Slovenia .............................................................................................................................................. 14 2.1.2.11 Switzerland ......................................................................................................................................... 15 2.1.2.12 United Kingdom ................................................................................................................................. 16 3. Travel & Tourism Economic Impact ........................................................................................................ 17 3.1 Austria ......................................................................................................................................................... 17 3.2 Bulgaria ................................................................................................................................................. 17 3.3. Czech Republic .......................................................................................................................................... 19 3.4 France ......................................................................................................................................................... 19 3.5 Germany ..................................................................................................................................................... 19 3.6. Greece ........................................................................................................................................................ 19 3.7 Hungary ...................................................................................................................................................... 20 3.8 Italy ............................................................................................................................................................. 20 3.9 Poland ......................................................................................................................................................... 20 3.10 Slovakia .................................................................................................................................................... 21 3.11 Slovenia..................................................................................................................................................... 21 3.12 Switzerland ............................................................................................................................................... 21 3.13 UK ............................................................................................................................................................. 22 4. Hotel market analysis ............................................................................................................................... 22 4.1 Austria ......................................................................................................................................................... 22 4.1.1 Tourism in Austria: overview .................................................................................. 22 4.1.2 Arrivals, overnight stays in Austria ......................................................................... 23 4.1.3 Accommodation capacity in Austria ........................................................................ 24 4.1.4 Winter season. 5 and 4 stars hotels. ......................................................................... 27 4.1.5 Summer season 5 and 4 stars hotels. ....................................................................... 27 4.1.6 Winter season.3 stars hotels. .................................................................................... 27 4.1.7 Summer season. 3 stars hotels. ............................................................................... 27 4.1.8 Conclusion. .............................................................................................................. 27 4.1.9 Recommendation ..................................................................................................... 27 4.2 Bulgaria ....................................................................................................................................................... 27 4.2.1 Key Tourism Destinations ....................................................................................... 27 2 4.2.2 Accomodation capacity Bulgaria ............................................................................. 28 4.2.3 Conclusion ............................................................................................................... 34 4.2.4 Recommendation: .................................................................................................... 34 4.3 Czech Republic ........................................................................................................................................... 34 4.3.1 Accomodation capacity in Czech Republic ............................................................. 34 4.3.2 Recommendation: .................................................................................................... 39 4.4 France ......................................................................................................................................................... 39 4.4.1 Key tourism destinations .................................................................................................. 39 4.4.2 Accommodation capacity ......................................................................................... 39 4.4.3 Recommendation .............................................................................................................. 41 4.5 Germany ..................................................................................................................................................... 41 4.5.1 Top locations and categories to invest in 2013 ...................................................... 43 4.5.2 Recommendation: ....................................................................................................... 44 4.6. Greece ........................................................................................................................................................ 44 4.6.1 Recommendation: .................................................................................................... 45 4.7 Hungary ...................................................................................................................................................... 46 4.7.1 Recommendation: .................................................................................................................................... 47 4.8. Italy ............................................................................................................................................................ 47 4.8.1 Recommendation: ............................................................................................................. 48 4.9. Slovakia ....................................................................................................................................................
Load more

Recommended publications
  • Performance of the Slovak Economy in Relation to Labor Productivity and Employment
    Available online at www.sciencedirect.com ScienceDirect Procedia Economics and Finance 23 ( 2015 ) 970 – 975 2nd GLOBAL CONFERENCE on BUSINESS, ECONOMICS, MANAGEMENT and TOURISM, 30-31 October 2014, Prague, Czech Republic Performance of The Slovak Economy in Relation to Labor Productivity and Employment Rastislav Kotulica*,Ivana KravcakovaVozarovaa, Jozef Nagya, Emilia Huttmanovaa, a Roman Vavrek aUniversity of Presov in Presov, Faculty of Management, 17. novembra 1, 080 01 Presov, Slovakia Abstract The regions which are located in the European environment have different primary sources, their quality and their level of utilization, which has a direct impact on their performance and subsequent productivity. The aim of this paper is to evaluate the performance and productivity of the Slovak economy in relation to employment in the period from 1995 to 2012. We assume that between employment and performance of the Slovak economy in individual periods is a strong dependence. This analysis confirmed our assumption. The productivity growth of the Slovak economy is directly proportional related to the ability of enterprises to respond successfully to new challenges in the field of innovation and the optimal use of productive resources. The correct interpretation of the results of performance and employment in the national economy can greatly help to clarify the situation on the labor market and thus to diagnose conditions that influence to a greater extent the behaviour of people of working age. © 20152014 TheThe Authors. Authors. Published Published by by Elsevier Elsevier B.V. B.V. This is an open access article under the CC BY-NC-ND license (Selectionhttp://creativecommons.org/licenses/by-nc-nd/4.0/ and/ peer-review under responsibility of).
    [Show full text]
  • Building an Unwanted Nation: the Anglo-American Partnership and Austrian Proponents of a Separate Nationhood, 1918-1934
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Carolina Digital Repository BUILDING AN UNWANTED NATION: THE ANGLO-AMERICAN PARTNERSHIP AND AUSTRIAN PROPONENTS OF A SEPARATE NATIONHOOD, 1918-1934 Kevin Mason A dissertation submitted to the faculty of the University of North Carolina at Chapel Hill in partial fulfillment of the requirements for the degree of PhD in the Department of History. Chapel Hill 2007 Approved by: Advisor: Dr. Christopher Browning Reader: Dr. Konrad Jarausch Reader: Dr. Lloyd Kramer Reader: Dr. Michael Hunt Reader: Dr. Terence McIntosh ©2007 Kevin Mason ALL RIGHTS RESERVED ii ABSTRACT Kevin Mason: Building an Unwanted Nation: The Anglo-American Partnership and Austrian Proponents of a Separate Nationhood, 1918-1934 (Under the direction of Dr. Christopher Browning) This project focuses on American and British economic, diplomatic, and cultural ties with Austria, and particularly with internal proponents of Austrian independence. Primarily through loans to build up the economy and diplomatic pressure, the United States and Great Britain helped to maintain an independent Austrian state and prevent an Anschluss or union with Germany from 1918 to 1934. In addition, this study examines the minority of Austrians who opposed an Anschluss . The three main groups of Austrians that supported independence were the Christian Social Party, monarchists, and some industries and industrialists. These Austrian nationalists cooperated with the Americans and British in sustaining an unwilling Austrian nation. Ultimately, the global depression weakened American and British capacity to practice dollar and pound diplomacy, and the popular appeal of Hitler combined with Nazi Germany’s aggression led to the realization of the Anschluss .
    [Show full text]
  • IZA Discussion Paper No. 154 May 2000
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Lechner, Michael; Gerfin, Michael Working Paper Microeconometric Evaluation of the Active Labour Market Policy in Switzerland IZA Discussion Papers, No. 154 Provided in Cooperation with: IZA – Institute of Labor Economics Suggested Citation: Lechner, Michael; Gerfin, Michael (2000) : Microeconometric Evaluation of the Active Labour Market Policy in Switzerland, IZA Discussion Papers, No. 154, Institute for the Study of Labor (IZA), Bonn This Version is available at: http://hdl.handle.net/10419/20997 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially
    [Show full text]
  • Regional Analysis of Tourism. Central and Eastern Europe
    Knowledge Horizons - Economics Volume 10, No. 2, pp. 46 – 58 , © 2018 Pro Universitaria “Dimitrie Cantemir” Christian University Knowledge Horizons - Economics Volume 10, No. 2, pp. 46 - 58 P-ISSN: 2069-0932, E-ISSN: 2066-1061 © 2018 Pro Universitaria www.orizonturi.ucdc.ro REGIONAL ANALYSIS OF TOURISM. CENTRAL AND EASTERN EUROPE Gabriela STANCIULESCU1, Elisabeta MOLNAR2 1PhD, Bucharest University of Economic Studies, E-mail: [email protected] 2PhD, Bucharest University of Economic Studies, E-mail: [email protected] Abstract The intensification of globalization brings to the forefront the role of the regions in economic Key words: growth, regions which are considered to be active and causal elements of economic development. Tourism, Regional These are considered places where the most advanced forms of economic development and development, innovation are concentrated. Economic Local (regional) economic development is defined by increases in the local (regional) development, CEE economy's capacity to create wealth for residents of the respective region or locality. These increases countries can occur if local resources, such as labor and land, are used more productively, or if the increase in JEL Codes: employment determines the use of labor force and land previously not being used (Camarda, 2008). Z30 Because the local level is defined in a more or less comprehensive manner, even the concept Q26 of local development has narrower or broader meanings. Thus, the concept of local economic M2 development means "the process of diversification and development of economic and social activity O52 at the level of a locality or a smaller territorial-administrative entity” (Profiroiu, Racoviceanu and Țarălungă, 1998, pp.8-16).
    [Show full text]
  • Impact of Foreign Direct Investment on the Economy of Slovakia
    NATIONAL BANK OF SLOVAKIA Adela Hošková IMPACT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMY OF SLOVAKIA National Bank of Slovakia Institute of Monetary and Financial Studies Bratislava 2001 IMPACT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMY OF SLOVAKIA © National Bank of Slovakia, Institute of Monetary and Financial Studies Adela Hošková. Bratislava 2001 2 Table of Contents Page INTRODUCTION 4 1. Foreign Direct Investment (FDI) in Slovakia 8 1.1 Inflow of Foreign Direct Investment 8 1.2 Outflow of Foreign Direct Investment 12 2. Impact on Balance of Trade and Payments 14 3. Regional Aspects of FDI in Slovakia 17 4. Impact of FDI on Employment, Labour Productivity and Know-How 27 5. Partnership Between FDI and Domestic Industry 36 CONCLUSION 44 REFERENCES 47 3 IMPACT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMY OF SLOVAKIA According to the latest results, the inflow of foreign direct investment (FDI) to Slovakia has started to gain importance. It is therefore important to understand the impact of FDI on the economy of Slovakia, primarily on the real sector, banking, third sector, etc. This study aims to depict the impact of FDI on selected production areas, i.e. employment, labour productivity, know-how, partnership between FDI and domestic industry, and regional distribution of FDI. The final positives (and/or negatives) boil down to the impact on the balance of trade and payments of the SR, as a result of the capitalisation of pro-export oriented organisations, which sell their output (because of the small size of the Slovak market) in foreign countries, by means of FDI.
    [Show full text]
  • Doing Business in Switzerland
    Independent legal & accounting firms Doing Business in Switzerland Edition No. 1 / February 2019 Photo credit: Shutterstock MSI Global Alliance Doing business in Switzerland MSI’s guide on Doing Business in Switzerland provides current information about the financial, regulatory and legal considerations that could affect business dealings within Switzerland. For further assistance please contact our MSI member firms in Switzerland. Country overview Bern, Luzern, St Gallen and Lugano. agreements with the European Union, allowing to bridge the differences and to Population Currency protect its businesses. Switzerland is a Switzerland has a total population of The national currency is the Swiss Franc destination of choice for entrepreneurs 8.5 million inhabitants. (CHF). and companies, due to its tax attractiveness and the high flexibility of Government Economic summary its legal system. Despite its official name, the Helvetic GDP: CHF 659 billion Confederation is a federation of Income per capita: CHF 78,700 Setting up a business sovereign states named cantons. Inflation: 0.84% There are 26 cantons, and each of Switzerland represents a highly them is composed of many Main sectors of the economy competitive and innovative business municipalities. The Swiss economy is amongst the most environment. Swiss corporate law prosperous and developed in the world, provides a flexible and a wide range of Switzerland is governed at three despite the lack of raw material and options in designing business entities. If levels: federal, cantonal and access to sea. The unemployment rate is several individuals join together to municipal. The federal capital is structurally low (3.2% in 2017). establish a company, they are obliged to Bern.
    [Show full text]
  • Income Distribution and Economic Growth; Empirical Results for Slovakia
    INCOME DISTRIBUTION AND ECONOMIC GROWTH; EMPIRICAL RESULTS FOR SLOVAKIA JURAJ ZEMAN WORKING PAPER 1/2018 © National Bank of Slovakia www.nbs.sk Imricha Karvaša 1 813 25 Bratislava [email protected] February 2018 ISSN 1337-5830 The views expressed in this paper do not necessarily reflect the views of the National Bank of Slovakia or the Eurosystem. All rights reserved. 2 Income distribution and economic growth; empirical results for Slovakia NBS Working Paper Juraj Zeman1 Abstract The relationship between income inequality and economic growth is an ambiguous one but most mainstream economists view real wage increases as a drag on economic growth as they lead to higher labor costs, lower competitiveness and reduction of employment. In this study we provide an alternative view and show that a labor income increase2 may also have a positive effect on growth. Which of these two effects dominates in a particular country depends on the institutional and legal environment of that country, its macroeconomic conditions and also its economic policies. We apply a general Keynesian growth model that combines demand and productivity regimes to test empirically two distinct economies – the small, very open economy of Slovakia and the large, relatively closed economy of the euro area3. We find that an income rise increases domestic demand and reduces external trade in both economies. But the total effect of income inequality on economic activity is opposite in both economies in the short run. In the Slovak case the positive effect of lower income inequality on domestic demand is surpassed by its negative effect on net exports.
    [Show full text]
  • Monitor Switzerland Q4 2019 (PDF)
    Investment Solutions & Products Swiss Economics Interest rates remain negative for the time being Monitor Switzerland | Fourth quarter 2019 Swiss Economy Focus Monetary policy GDP growth only moderate Negative interest rates are effective Larger profit distribution? in 2020 too Page 6 Page 10 Page 18 Impressum Publisher, Credit Suisse AG, Investment Solutions & Products Nannette Hechler-Fayd'herbe Head of Global Economics & Research +41 44 333 17 06 nannette.hechler-fayd'[email protected] Oliver Adler Chief Economist Switzerland +41 44 333 09 61 [email protected] Authors Oliver Adler Maxime Botteron Sara Carnazzi Weber Emilie Gachet Tiziana Hunziker Alexander Lohse Claude Maurer Thomas Rieder Fabian Waltert Orders Direct from your client advisor or from any Credit Suisse branch. Contribution Vojo Gunevski Ewelina Krankowska-Kedziora Editorial deadline 5 December 2019 Copyright © The publication may be quoted providing the source is indicated. Copyright © 2019 Credit Suisse Group AG and/or affiliated companies. All rights reserved. Swiss Economics I Fourth quarter 2019 2 Editorial Dear Reader On January 15, 2015 – or almost exactly five years ago – the Swiss National Bank (SNB) an- nounced that it would be cutting its key interest rate to well below zero. If someone had been bold enough to predict five years earlier that interest rates in Switzerland would ever reach such a low level, he or she would probably have been dismissed as being rather light in the head. Yet today the yields on Swiss government bonds are in negative territory up to terms of well beyond 30 years, while interest rates are also negative in numerous other European countries.
    [Show full text]
  • Can Foreign Direct Investment Promote Exports in Slovakia?
    digitales archiv ZBW – Leibniz-Informationszentrum Wirtschaft ZBW – Leibniz Information Centre for Economics Li, Zheng-Zheng Article Can foreign direct investment promote exports in Slovakia? Provided in Cooperation with: Slovak Academy of Sciences, Bratislava This Version is available at: http://hdl.handle.net/11159/3971 Kontakt/Contact ZBW – Leibniz-Informationszentrum Wirtschaft/Leibniz Information Centre for Economics Düsternbrooker Weg 120 24105 Kiel (Germany) E-Mail: [email protected] https://www.zbw.eu/econis-archiv/ Standard-Nutzungsbedingungen: Terms of use: Dieses Dokument darf zu eigenen wissenschaftlichen Zwecken This document may be saved and copied for your personal und zum Privatgebrauch gespeichert und kopiert werden. Sie and scholarly purposes. You are not to copy it for public or dürfen dieses Dokument nicht für öffentliche oder kommerzielle commercial purposes, to exhibit the document in public, to Zwecke vervielfältigen, öffentlich ausstellen, aufführen, vertreiben perform, distribute or otherwise use the document in public. If oder anderweitig nutzen. Sofern für das Dokument eine Open- the document is made available under a Creative Commons Content-Lizenz verwendet wurde, so gelten abweichend von diesen Licence you may exercise further usage rights as specified in Nutzungsbedingungen die in der Lizenz gewährten Nutzungsrechte. the licence. Leibniz-Informationszentrum Wirtschaft zbw Leibniz Information Centre for Economics Ekonomický časopis, 67 , 2019, č. 2, s. 135 – 156 135 Can Foreign Direct Investment Promote Exports in Slovakia? Zheng-Zheng LI * – Chi-Wei SU ** – Ran TAO *** – Oana-Ramona LOBON Ţ**** Abstract In this paper, we investigate whether the knowledge capital model (Carr Markusen and Maskus, 2001) is satisfied in Slovakia by applying the bootstrap rolling window subsample test to examine the causal relationship between fore- ign direct investment (FDI) and exports (EX).
    [Show full text]
  • The Berlin Process Final
    The Berlin Process in a Nutshell Published by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH Registered offices Bonn and Eschborn, Germany Open Regional Fund for SEE – Promotion of EU Integration Zmaja od Bosne 7-7a 71000 Sarajevo, BiH Phone +387 33 957 500 Fax +387 33 957 500 [email protected] www.giz.de As at 09/2018 Printed by Design www.studiodeset.com Sarajevo Photo credits London segment, photo by Be Henry on Unsplash Berlin segment, photo by Bundgaard Camilla on Unsplash Paris segment, photo by Delanoix Anthony on Unsplash Vienna segment, photo by Diwald Gabriele on Unsplash Trieste segment, photo by Husond on Wikimedia Commons Text Ana Marjanović Rudan GIZ is responsible for the content of this publication. On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) What is the Berlin Process? The Berlin process is a platform for high-level cooperation between the leaders of the Western Balkan countries (WB6) and the Berlin Process host countries, also including the region’s civil society, youth, and businesses. It began in 2014 as a 4-year platform, but it will continue beyond 2018. Why was it initiated? At the time when the European Union (EU) was facing multiple challenges and its enlargement was put on hold, the Berlin Process was launched to maintain the stability of the Western Balkans (WB), support the ongoing reforms, and to move the cooperation among the regional countries forward. The Goals The 2014 Declaration of the German Chair set out to make concrete progress in: 1. Resolution of outstanding bilateral and internal issues 2.
    [Show full text]
  • Future Prospects for the Swiss Flag and Fleet at Sea
    Future Prospects for the Swiss Flag and Fleet at Sea Bremen, April 2021 Federal Department of Foreign Affairs FDFA Directorate of International Law DIL Swiss Maritime Navigation Office SMNO Created by: Institut für Seeverkehrswirtschaft und Logistik Institute of Shipping Economics and Logistics In collaboration with: Prof. Dr. Suzette V. Suarez Institut für Seeverkehrswirtschaft und Logistik Institute of Shipping Economics and Logistics Contact: Contact Persons: Universitätsallee 11/13 Prof. Dr. Burkhard Lemper 28359 Bremen E-Mail: [email protected] Germany Tel.: +49 421 22096 63 Tel.: +49 421 22096 0 Hendrik Jungen Fax: +49 421 22096 55 E-Mail: [email protected] www.isl.org Tel.: +49 421 22096 75 Christoph Hluchy E-Mail: [email protected] Tel.: +49 421 22096 85 Future Prospects for the Swiss Flag and Fleet at Sea Table of Contents Table of Contents I Register of Illustrations and Tables IV Glossary V 1 Introduction 2 1.1 Background and Actuality 2 1.2 Purpose of the Study 2 1.3 Methodology 3 1.3.1 Theoretical Framework 3 1.3.2 Fleet Development 3 1.3.3 Competition of Registries 4 1.3.4 Basis of Evaluation 5 1.3.5 Scenario Evaluation 8 1.4 Limitations and Boundaries 9 2 Definition and Delimitation 10 2.1 Law of the Sea Framework Applicable to Vessels and to Switzerland as a Flag State 10 2.1.1 Nationality of Ships and the Requirement of Genuine Link 10 2.1.2 Duties of the Flag State 11 2.1.3 Allocation of Jurisdiction over Vessels 12 2.2 Ships flying the Swiss Flag & Fleet at Sea 15 3 Fleet Development 18 3.1 Commercial Shipping 18 3.2 Yachts
    [Show full text]
  • Economic Effects in Slovakia Within Integration in the European Union
    The International Scientific Conference INPROFORUM 2014 November 6 - 7, 2014, České Budějovice, 34-42, online ISSN 2336-6788, ISBN 978-80-7394-484-1. ________________________________________________________________________________________________________________________________________________________________________________________________ Economic Effects in Slovakia within Integration in the European Union Amir Imeri, Zuzana Bajusová1 Abstract: The wide interest, application and membership of Slovakia in European Union enable to study the economic effects in general terms. In our study we are going to analyze the economic cooperation of Slovakia before and after membership in EU. We will discuss whether economic cooperation between Slovakia and EU members increased or decreased after EU membership. This article provides a comprehensive and contemporary comparative analysis of the economic performance, the economic structure and the trade relations between Slovakia and EU countries, allow- ing us to detect basic trends and developments. We will compare the economic performance of Slovakia and other EU members (including Czech Republic and Slovenia), looking at aggregate figures from integration in EU such as foreign trade, FDI, GDP and its structure, level of structural unemployment and employment, inflation and level of income. Key words: EU Membership · Foreign Trade · FDI · GDP · Unemployment · Inflation JEL Classification: F4 · F14 1 Introduction The idea of peace and stability of a united Europe was the dream of philosophers and visionaries. On the ruins of World War II grows into the forefront the effort to create a new structure of Western Europe, based on common interests, based on treaties guaranteeing the rule of law and equality between all countries. Basis for the future unification of Europe was laid on 9th of May 1950 by French Minister of Foreign Affairs Robert Schuman and economist Jean Monnet.
    [Show full text]