This summer we have focused on analysing the potential for CIM to develop income generating activies through ecotourism in Sanski Most.
After two months of research we have found the following:
There is good reason to assume that a tourism agency in Sanski Most will be profitable. Data shows that there is huge potential for tourism in Bosnia and Herzegovina, especially for outdoor and ecotourism due to the country's beautiful natural resources. CIM can make use of the growth of the tourism sector and of the natural wealth of Sanski Most and its surrounding areas to start a tourism business that offers activities like hiking, cycling and canoeing.
The BiH tourism industry has been growing throughout the past 10 years with ongoing positive trends. The growth rate of tourism from 2002 to 2012 was 5.85%, including negative growth rates in the years 2009 and 2010 caused by the global economic crisis. However, there is high potential for further growth, as the tourism potentials are not fully used yet. At the moment tourism in BiH composes only 0.2 % of the total European tourism. The World Tourism Organization estimates that BiHs overall tourism market growth potential exceeds 10 % annually through 2020. Such a high growth potential is estimated for only three tourism destinations in the whole world. As very promising for the development of tourism in BiH are regarded, amongst others, ecotourism, spa tourism, ski and moutain tourism and adventure tourism. Potential for all of these activities can be found right on our door step, all over Sanski Most and the surrounding area.
For the next few months until the end of the year, we will focus on:
– analysing tourist offers in the area of Sanski Most to estimate competition in that sector
– clearly outlining the tourism business
– estimating the possible economic impact in Sanski Most
– calculating a budget
– developing a strategy how to adress potential tourists
– making a more concrete risk analysis and developing strategies how to adress these risks