Travel & Tourism - Austria | Statista Market Forecast

In Austria, the projected revenue for the Travel & Tourism market is expected to reach US$6.05bn by 2024.
The market is expected to grow at an annual rate of 3.72%, resulting in a projected market volume of US$7.26bn by 2029.
The largest market in this market is the Package Holidays, with a projected market volume of US$2.79bn in 2024.
By 2029, the number of users in the Package Holidays market is expected to amount to 5.83m users.
User penetration in this market is projected to increase from 84.0% in 2024 to 94.7% by 2029.
The average revenue per user (ARPU) is expected to be US$801.90.
Regarding online sales, 79% of the total revenue in the Travel & Tourism market is expected to be generated through online sales by 2029.
It is worth noting that, in global comparison, United States is expected to generate the most revenue, with a projected revenue of US$214bn in 2024.
Austria's travel and tourism industry continues to thrive due to its rich cultural heritage, stunning Alpine scenery, and well-established infrastructure.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

For further information on the data displayed, refer to the info button right next to each box.

Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Austria, known for its stunning Alpine scenery and rich cultural heritage, has seen a steady growth in its Travel & Tourism market in recent years.

Customer preferences: Travelers in Austria are increasingly seeking authentic and immersive experiences, opting for sustainable and eco-friendly travel options. They are drawn to the country's picturesque landscapes, historic cities, and renowned culinary scene. Additionally, there is a growing interest in wellness tourism, with visitors looking to relax in Austria's famous spas and wellness resorts.

Trends in the market: One notable trend in the Austrian Travel & Tourism market is the rise of experiential travel, where visitors are actively participating in local traditions and activities. This trend is reflected in the popularity of homestays, farm stays, and cultural tours. Moreover, there has been an increase in adventure tourism, with travelers exploring the country's outdoor activities such as hiking, skiing, and cycling.

Local special circumstances: Austria's strategic location in the heart of Europe makes it a gateway to other European destinations, attracting both leisure and business travelers. The country's well-developed infrastructure, including efficient public transportation and high-quality accommodation options, further enhances its appeal to tourists. Additionally, Austria's commitment to preserving its natural environment and cultural heritage contributes to its overall attractiveness as a travel destination.

Underlying macroeconomic factors: The stable political environment and strong economy in Austria have provided a conducive setting for the growth of the Travel & Tourism sector. Favorable government policies, investments in tourism infrastructure, and effective marketing strategies have all played a role in driving the industry forward. Furthermore, the country's participation in the Schengen Area has facilitated seamless travel within Europe, making it easier for tourists to visit Austria as part of a broader European itinerary.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

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, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. 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 country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. 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, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.