Flights - Albania | Statista Market Forecast

Flights - Albania

Albania

Highlights

Albania is expected to witness a significant growth in the Flights market as the revenue is projected to reach US$163.30m by 2024.
It is further anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 5.40%, resulting in a market volume of US$212.40m by 2029.
The number of users is also expected to increase, amounting to 433.20k users by 2029, with a user penetration of 12.1% in 2024 and 15.5% by 2029.
The average revenue per user (ARPU) is expected to be US$476.90.
Moreover, a significant share of 97% of the total revenue in the Flights market is projected to be generated through online sales by 2029.
Interestingly, in global comparison, United States is expected to generate the highest revenue of US$143bn in 2024 in the Flights market.
Albanian airlines are expanding their routes and services, as the country's tourism industry continues to grow.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Albania has been experiencing steady growth over the past few years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all played a role in shaping the development of the market. Customer preferences in the Flights market in Albania have been influenced by several factors. Firstly, there has been an increasing demand for affordable flights, as more people are looking to travel on a budget. This has led to the rise of low-cost carriers, which offer competitive prices and attract a large number of customers. Additionally, customers in Albania have shown a preference for online booking platforms, as they offer convenience and the ability to compare prices easily. Trends in the market have also contributed to the development of the Flights market in Albania. One notable trend is the increasing number of international flights to and from Albania. This can be attributed to the country's growing tourism industry, as more international travelers are discovering the beauty and cultural heritage of Albania. Another trend is the expansion of regional airlines, which have started offering more routes to and from Albania, providing customers with more options and increasing competition in the market. Local special circumstances have also had an impact on the Flights market in Albania. One such circumstance is the geographical location of the country, which makes air travel the most convenient mode of transportation for international and domestic travel. Additionally, the government of Albania has implemented policies to attract foreign airlines and promote tourism, which has further stimulated the growth of the Flights market. Underlying macroeconomic factors have also played a role in the development of the Flights market in Albania. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and a higher demand for travel. This has created a favorable environment for the Flights market to thrive and expand. In conclusion, the Flights market in Albania has been developing steadily due to customer preferences for affordable flights and online booking platforms, as well as trends such as the increase in international flights and the expansion of regional airlines. Local special circumstances, such as the country's geographical location and government policies, have also contributed to the growth of the market. Additionally, underlying macroeconomic factors, such as economic growth and increased disposable income, have created a favorable environment for the Flights market in Albania to flourish.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.