Market intelligence: priority markets have been selected
The Sentinel consortium completed at the end of May the identification of 4 emerging markets for the tourism sector where the hospitality sector is expected to clearly grow during next years.
To do this, a research was performed by accessing and analysing secondary data coming from several international organisations such as UNWTO, OECD, The World Bank of Eurostat as well as international consultancy agencies (Deloitte, PricewaterhouseCoopers, etc.). The conclusions of this research gave information about the most interesting markets in terms of forecasting growth of the tourism, market size, economic development in the country and level of investment (public and private). This activity led to initially selecting 13 interesting markets.
Then the markets pre-selection started, to check the attractiveness of each one of the emerging markets for the Sentinel partners and the SME members and thus their real interest to enter the identified markets. This task has done in two parts:
- Involving of SMEs of all partnership clusters by participating in a survey in order to gather information and understand the level of the interest in these markets and sector. The survey was designed including the 13 pre-selected countries and a scale of market interested about the countries. The scale was divided in three different marks: 5 (high priority), 2 (also interesting) and 0 (not interesting). 104 SMES answered the survey
- The partner clusters selected a list of general performance indicators for the attractiveness of the market in terms of macroeconomics, tourism development, etc. and were considered for the decision.
Finally, the results of both analysis were used to prepare a preselection of the 4 priority markets.
A market analysis of selected countries is taking place with the participation of specialist advice and will be completed by October 2018.