Flights - Czechia | Statista Market Forecast

Flights - Czechia

Czechia

Highlights

In Czechia, the Flights market is expected to achieve a revenue of US$1.38bn by 2024.
Moreover, the revenue is estimated to show a Compound Annual Growth Rate (CAGR 2024-2029) of 3.40%, leading to a projected market volume of US$1.63bn by 2029.
By then, the number of users in this market is predicted to be 2.35m users.
The user penetration rate is projected to increase from 18.4% in 2024 to 22.4% by 2029.
The expected Average Revenue Per User (ARPU) is US$712.60.
Furthermore, it is anticipated that 87% of the total revenue in this market will be generated through online sales by 2029.
Lastly, when compared globally, it is projected that the most revenue in the Flights market would be generated United States, with an estimated revenue of US$143bn in 2024.
Czechia's flight market is experiencing a rise in budget airlines, making travel to popular European destinations more affordable.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Czechia 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 Czechia have been shifting towards more affordable and convenient travel options. With the rise of low-cost carriers and online travel agencies, customers are now able to compare prices and book flights easily. This has led to increased competition among airlines, resulting in lower fares and more options for travelers. Additionally, customers are increasingly seeking out flights that offer additional services and amenities, such as in-flight entertainment and Wi-Fi. One of the key trends in the Flights market in Czechia is the growth of domestic travel. With an increasing number of Czech residents opting to explore their own country, airlines have responded by offering more domestic flight routes. This trend has been driven by a desire for shorter travel times and the convenience of flying compared to other modes of transportation. Additionally, the growing popularity of domestic tourism has led to an increase in the number of flights to popular tourist destinations within Czechia. Another trend in the Flights market in Czechia is the rise of budget airlines. These low-cost carriers have gained popularity among price-conscious travelers, offering affordable fares and a no-frills travel experience. Budget airlines have been able to keep costs low by operating smaller aircraft and offering limited in-flight services. This trend has led to increased competition among airlines, resulting in lower prices and more options for travelers. Local special circumstances have also played a role in the development of the Flights market in Czechia. The country's central location within Europe makes it an ideal hub for international travel. This has led to an increase in the number of flights connecting Czechia to other European countries, as well as to destinations further afield. Additionally, the country's growing tourism industry has attracted airlines to increase their presence in Czechia, offering more flights to cater to the demand. Underlying macroeconomic factors have also contributed to the growth of the Flights market in Czechia. The country's strong economic performance and increasing disposable income have allowed more residents to afford air travel. Additionally, the growth of the business sector in Czechia has led to an increase in business travel, further driving demand for flights. In conclusion, the Flights market in Czechia has experienced significant growth due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The rise of low-cost carriers, the growth of domestic travel, and the country's central location within Europe have all contributed to the development of the market. Additionally, the strong economic performance and increasing disposable income in Czechia have allowed more residents to afford air travel, further driving demand for flights.

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.