The Flights market in Central & Western Europe has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Flights market in Central & Western Europe have shifted towards convenience and affordability. Customers are increasingly looking for flights that offer easy booking processes, flexible cancellation policies, and competitive prices. This has led to the rise of low-cost carriers in the region, as well as the expansion of online travel agencies that provide a one-stop shop for flight bookings. Additionally, customers are also prioritizing safety and hygiene measures, especially in the wake of the COVID-19 pandemic. Airlines and airports in the region have responded by implementing stringent health protocols and offering flexible rebooking options. Several trends have emerged in the Flights market in Central & Western Europe. One notable trend is the increasing popularity of secondary airports. Customers are opting to fly from smaller airports that are often located closer to their homes, saving them time and money on transportation. This trend has been fueled by the expansion of low-cost carriers, which often operate from secondary airports to keep costs down. Another trend is the growing demand for sustainable travel options. Customers are becoming more conscious of their carbon footprint and are choosing airlines that prioritize environmental sustainability. This has led to the emergence of airlines that offer carbon offset programs and invest in fuel-efficient aircraft. Local special circumstances have also played a role in the development of the Flights market in Central & Western Europe. The region is home to a large number of popular tourist destinations, such as Paris, Rome, and Barcelona. This has created a high demand for flights, both from international tourists and domestic travelers. Additionally, the geographical proximity of countries in the region has made it easier for customers to travel between different cities and countries. This has led to the growth of short-haul flights, as customers take advantage of affordable and convenient travel options. Underlying macroeconomic factors have also contributed to the growth of the Flights market in Central & Western Europe. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and a higher propensity to travel. Additionally, the European Union has implemented policies that promote competition and open skies, allowing airlines to operate more freely across borders. This has led to increased competition in the market, driving down prices and making air travel more accessible to a wider range of customers. In conclusion, the Flights market in Central & Western Europe has been developing rapidly due to customer preferences for convenience, affordability, and safety. The rise of low-cost carriers, the popularity of secondary airports, and the demand for sustainable travel options are all trends that have shaped the market. Local special circumstances, such as the presence of popular tourist destinations and the geographical proximity of countries, have also contributed to the growth. Finally, underlying macroeconomic factors, such as steady economic growth and EU policies promoting competition, have further fueled the development of the market.
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.
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