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Hungary sees travel boost following F1 Grand Prix

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Written by editor

LONDON, England – The F1 Grand Prix that took place in Budapest at the end of July had a huge impact on the holiday rentals market, according to HomeAway.co.uk.

LONDON, England – The F1 Grand Prix that took place in Budapest at the end of July had a huge impact on the holiday rentals market, according to HomeAway.co.uk. Following the London Olympics and World Cup trends, property owners in Hungary tapped into the potential of the high profile event and rented out their homes to visitors. On HomeAway website the country was the best performing destination for growth in supply in the second quarter of 2012, with a 50 percent increase year-on-year in the number of new properties advertised for rent.

The renewed supply of holiday rentals in Hungary was also matched by increased holidaymaker demand, as booking enquiries sent to properties in Budapest rose 78 percent in April through June, compared to the same period last year. The country was among the top ten most popular destinations enquired about for holidays in the second quarter of the year.

Top 10 destinations for growth in demand in Q2 2012 on HomeAway.co.uk

1) Australia
2) Virgin Islands
3) Japan
4) Saint Martin
5) Holland
6) Channel Islands
7) Hungary
8) Brazil
9) Iceland
10) Slovenia

Another rising star was Japan, third most popular destination for holidaymaker demand in the second quarter of the year. The country experienced a huge 163 percent year-on-year growth in number of enquiries placed on the website in April through June. The findings mirror recent figures from the Japan National Tourism Organisation, which recently announced the number of visitors to Japan in June has, for the first time since the earthquake and tsunami on 11 March 2011, exceeded the pre-disaster level.

Another destination to watch out for in 2012 is Slovenia, which looks to be experiencing a similar travel trend to its neighbour Croatia and Montenegro a few years back. Stretching between the Adriatic Sea and the Alps, the country is still a relatively undiscovered destination, with a diverse landscape and low cost of living and it emerged as the tenth most popular holiday spot in the second quarter, with an 18 percent year-on-year increase in the number of enquiries.