Flights - Zambia | Statista Market Forecast

Flights - Zambia

Zambia

Highlights

In Zambia, the revenue of the Flights market sector is estimated to reach US$34.55m by 2024.
The revenue is projected to display a Compound Annual Growth Rate (CAGR 2024-2029) of 10.93%, resulting in a market volume of US$58.04m by 2029.
By 2029, the number of users in the Flights market is anticipated to rise to 855.50k users.
In 2024, the user penetration is predicted to be 2.2% and is expected to increase to 3.6% by 2029.
The Average Revenue Per User (ARPU) is projected to be US$74.53.
By 2029, 78% of the total revenue in the Flights market will be generated through online sales.
It is noteworthy that, in comparison to other countries, United States is expected to generate the most revenue in the Flights market, with an estimated revenue of US$143bn in 2024.
Zambia's flight market is experiencing growth due to increased tourism and business travel, leading to more airlines offering routes to the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Zambia has been experiencing significant growth in recent years, driven by various factors such as increasing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Flights market in Zambia have been shifting towards more affordable and convenient options. Travelers are increasingly looking for budget-friendly flights that offer value for money, as well as flexible booking and cancellation policies. This trend is driven by the growing middle class in Zambia, who are seeking more affordable travel options without compromising on quality. Trends in the market show a rise in the number of low-cost carriers operating in Zambia. These airlines offer competitive prices and focus on cost-saving measures, such as operating from secondary airports and offering limited in-flight services. This trend has made air travel more accessible to a larger segment of the population, leading to increased demand for flights. Local special circumstances, such as the growth of tourism in Zambia, have also contributed to the development of the Flights market. Zambia is known for its diverse wildlife, natural beauty, and cultural heritage, attracting a significant number of international tourists. This has led to an increased demand for flights to and from Zambia, as well as domestic flights within the country to reach popular tourist destinations. Underlying macroeconomic factors have played a role in the growth of the Flights market in Zambia. The country's stable economic growth, improved infrastructure, and government initiatives to promote tourism have created a favorable environment for the aviation industry. Additionally, increased connectivity with other countries and regions through direct flights and partnerships with international airlines have further boosted the market. In conclusion, the Flights market in Zambia is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for affordable and convenient flights, the rise of low-cost carriers, the growth of tourism, and the favorable macroeconomic environment have all contributed to the market's growth. As the market continues to evolve, it is expected to attract more players and offer even more options for travelers in Zambia.

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.