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Czech Republic is one of the largest tourist market in Central and Eastern Europe. Tourism accounts for 8.4% of GDP.
Leisure tourism is predominant, although the country, especially Prague, is a booming business destination, with a quality for price ratio that attracts large groups. Whereas it largely benefitted from structural European funds between 2007 and 2011, the Czech tourist industry will now need an increase in national budget and private investments to reinforce its infrastructures.
61% of total overnights are generated by international visitors. Demand from the rest of EU countries even exceed domestic overnights, even though the latter slightly increased. Germany and Russia are the first source markets in 2015 with respectively 14.0% and 5.6% of overnights spent in hotels. Russian clientele used to represent almost 10% of demand in 2014; the one-off slowdown it has been undergoing thus explains the stagnation of total arrivals across the last few months. Meanwhile, the American clientele kept rising and is now the 3rd foreign source market (with 3.3% of total overnights). American demand is now comparable to the British or Slovak ones. Asia, through its different countries (mainly China, Japan and Korea) accounts for 7.4% of total overnights spent in the country compared to 6.3% the previous year, thus significantly contributing to the growth in hotel performances.
With its 36 thermal cities, the Czech Republic is the first European thermal country. Demand is very strong in this sector. As for Prague, it is one of the most visited cities in Europe, especially because of its rich history, culture and architecture. The development of low-cost connections between Prague and cities throughout Europe continues.
In 2013 the Czech travel agency "Czech Tourism" started an advertising campaign aimed to attract more wealthy clients. Aimed at 13 countries, the campaign started in Europe (Germany, Poland, Scandinavia, France, Great Britain and Russia) then from 2014 onwards it was rolled over in the USA, Brazil and China.
As of January 1, 2017, the Czech Republic hosts 2,690 hotels and 106,051 rooms.