Flights - Bahrain | Statista Market Forecast

Flights - Bahrain

Bahrain

Highlights

Bahrain is expected to witness a significant growth in the Flights market's revenue, which is projected to reach US$203.20m by 2024.
Moreover, the revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 3.90%, resulting in a projected market volume of US$246.00m by 2029.
The Flights market is expected to witness an increase in the number of users, which is estimated to be 359.10k users by 2029.
The user penetration is projected to be 20.3% in 2024 and 23.0% by 2029.
The average revenue per user (ARPU) is expected to be US$668.20.
Furthermore, it is anticipated that 86% of the total revenue in the Flights market will be generated through online sales by 2029.
It is worth mentioning that in the global comparison, the highest revenue will be generated in United States, which is projected to be US$143bn in 2024.
Bahrain's flight market is experiencing growth due to increased tourism and a growing expat population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Bahrain has been experiencing significant growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Flights market in Bahrain have been shifting towards convenience and comfort. With increasing disposable incomes and a desire for hassle-free travel experiences, customers are opting for flights as their preferred mode of transportation. The availability of a wide range of airlines and flight options allows customers to choose flights that best suit their needs in terms of timing, cost, and amenities. Additionally, the growing popularity of online booking platforms has made it easier for customers to compare prices and book flights from the comfort of their own homes. Trends in the market also contribute to the development of the Flights market in Bahrain. One prominent trend is the increasing number of low-cost carriers entering the market. These airlines offer competitive prices and attract budget-conscious customers who are looking for affordable travel options. The presence of low-cost carriers has also led to increased competition among airlines, resulting in lower fares and more options for customers. Another trend is the expansion of routes and destinations served by airlines. This allows customers to travel to a wider range of locations, both domestically and internationally, further fueling the demand for flights. Local special circumstances play a role in the development of the Flights market in Bahrain. As an island nation, Bahrain heavily relies on air travel for both domestic and international connectivity. The limited availability of land-based transportation options makes air travel the most convenient and efficient choice for many residents and tourists. Additionally, Bahrain's strategic location in the Middle East makes it an attractive hub for connecting flights, further boosting the demand for flights. Underlying macroeconomic factors also contribute to the growth of the Flights market in Bahrain. The country's strong economy, driven by sectors such as finance, tourism, and manufacturing, has led to an increase in business and leisure travel. As more companies establish their presence in Bahrain and tourists flock to the country's attractions, the demand for flights continues to rise. Furthermore, government initiatives to promote tourism and improve transportation infrastructure have also played a significant role in driving the growth of the Flights market. In conclusion, the Flights market in Bahrain is developing at a rapid pace due to customer preferences for convenience and comfort, trends such as the emergence of low-cost carriers and the expansion of routes, local special circumstances as an island nation and strategic location, and underlying macroeconomic factors such as a strong economy and government initiatives. These factors collectively contribute to the growth and development of the Flights market in Bahrain.

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.