The Flights market in Croatia has experienced significant growth in recent years, driven by several factors including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences play a crucial role in shaping the Flights market in Croatia. With the increasing popularity of air travel, more and more customers are opting for flights as their preferred mode of transportation. This can be attributed to the convenience and time-saving nature of air travel, especially for long-distance or international journeys. Additionally, the availability of budget airlines and competitive pricing has made flights more affordable and accessible to a wider range of customers. Trends in the market have also contributed to the growth of the Flights market in Croatia. One notable trend is the rise of low-cost carriers. These airlines offer discounted fares and no-frills services, appealing to price-conscious travelers. The presence of low-cost carriers has increased competition in the market, leading to lower prices and more options for customers. Another trend is the increasing use of online travel agencies and booking platforms, which have made it easier for customers to compare prices, book flights, and manage their travel itineraries. Local special circumstances in Croatia have further fueled the growth of the Flights market. As a popular tourist destination, Croatia attracts a large number of international visitors each year. The country's stunning coastline, historical sites, and vibrant cities make it an attractive destination for both leisure and business travelers. This influx of tourists has increased the demand for flights to and from Croatia, leading to the expansion of flight routes and the introduction of new airlines serving the market. Underlying macroeconomic factors have also played a role in the development of the Flights market in Croatia. The country's stable economy and growing middle class have contributed to an increase in disposable income, allowing more people to afford air travel. Additionally, Croatia's membership in the European Union has facilitated the growth of the aviation industry by promoting open skies policies and encouraging foreign investment in the sector. In conclusion, the Flights market in Croatia has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As air travel continues to be a popular choice for travelers, the market is expected to further expand in the coming years.
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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