Flights - Malta | Statista Market Forecast

Flights - Malta

Malta

Highlights

Malta is projected to witness a surge in revenue in the Flights market, which is expected to reach US$52.84m by 2024.
Moreover, the revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 4.96%, leading to a projected market volume of US$67.31m by 2029.
The number of users in the Flights market is also expected to increase, amounting to 84.17k users by 2029.
In addition, user penetration is projected to be 12.3% in 2024 and 15.5% by 2029.
The average revenue per user (ARPU) is expected to be US$803.30.
By 2029, 91% of the total revenue will be generated through online sales in the Flights market.
It is noteworthy that in global comparison, United States is expected to generate the most revenue in the Flights market, with a projected revenue of US$143bn in 2024.
Malta's flight market is seeing a rise in demand for domestic flights as locals opt for staycations due to travel restrictions.

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Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Malta has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In the Flights market in Malta, customers have shown a strong preference for convenience and affordability. With the increasing availability of low-cost airlines and online travel agencies, travelers are now able to easily compare prices and book flights at competitive rates. This has led to a shift in customer preferences towards budget airlines and online booking platforms, resulting in increased demand for flights.

Trends in the market: One of the key trends in the Flights market in Malta is the rise of tourism. Malta has become a popular tourist destination in recent years, attracting visitors from all over the world. This has led to an increase in the number of flights to and from Malta, as airlines seek to meet the growing demand for travel to the island. Additionally, with the rise of digital technology, airlines are now able to reach a wider customer base through online marketing and booking platforms, further driving the growth of the Flights market in Malta.

Local special circumstances: Malta's geographical location in the Mediterranean Sea makes it an ideal hub for flights connecting Europe, Africa, and the Middle East. This has led to the establishment of several international airlines operating in Malta, as well as the expansion of existing airlines to include more routes to and from the island. Furthermore, Malta's government has implemented policies to attract foreign investment in the tourism sector, which has further stimulated the growth of the Flights market.

Underlying macroeconomic factors: The Flights market in Malta has also been influenced by underlying macroeconomic factors. The global economic growth has resulted in increased disposable income and a higher propensity to travel among consumers. This has led to a rise in demand for flights, both for leisure and business purposes. Additionally, Malta's strong economic performance and stable political environment have attracted foreign investment and boosted tourism, contributing to the growth of the Flights market. In conclusion, the Flights market in Malta has experienced significant growth in recent years, driven by customer preferences for convenience and affordability, market trends such as the rise of tourism and digital technology, local special circumstances including Malta's geographical location and government policies, and underlying macroeconomic factors such as global economic growth and Malta's strong economic performance. As these factors continue to shape the market, it is expected that the Flights market in Malta will continue to grow and evolve 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.