Market Insights Mobility Travel & Tourism

Camping - Bulgaria

Bulgaria

In 2024, it is projected that the Camping market in Bulgaria will reach a revenue of US$0.80m.
Furthermore, the revenue is expected to demonstrate an annual growth rate of 6.19% (CAGR 2024-2029), resulting in a projected market volume of US$1.08m by 2029.
By 2029, the number of users in the Camping market is estimated to amount to 7.62k users.
The user penetration is expected to increase from 0.1% in 2024 to 0.1% by 2029.
The projected average revenue per user (ARPU) is US$132.90.
By 2029, 60% of the total revenue in the Camping market is expected to be generated through online sales.
Compared globally, United States is projected to generate the highest revenue in the Camping market, reaching US$25,810m in 2024.
Camping in Bulgaria is gaining popularity among nature enthusiasts seeking untouched landscapes and affordable outdoor experiences.

Key regions: Singapore, United Kingdom, Indonesia, India, Vietnam

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Analyst Opinion

The Camping market in Bulgaria has been experiencing significant growth in recent years, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Customers in Bulgaria are increasingly seeking outdoor experiences and activities, leading to a growing interest in camping as a recreational option. The desire to connect with nature, enjoy outdoor adventures, and seek budget-friendly travel alternatives has fueled the demand for camping equipment and accessories.

Trends in the market: One notable trend in the Bulgarian camping market is the rising popularity of eco-friendly and sustainable camping practices. Consumers are showing a preference for environmentally conscious products, such as biodegradable camping gear, solar-powered gadgets, and organic camping food options. This trend aligns with global efforts towards sustainability and responsible tourism.

Local special circumstances: Bulgaria's diverse natural landscapes, including mountains, forests, and coastal areas, provide an ideal setting for camping enthusiasts. The country's abundance of national parks and camping sites offer a wide range of options for outdoor enthusiasts, from remote wilderness camping to well-equipped campgrounds with modern facilities. The affordability of camping in Bulgaria compared to traditional accommodation options also contributes to its appeal among both domestic and international tourists.

Underlying macroeconomic factors: The growth of the camping market in Bulgaria is also influenced by macroeconomic factors such as increasing disposable income levels, changing travel preferences, and the rise of domestic tourism. As more Bulgarians prioritize experiences over material possessions, camping presents an attractive and cost-effective way to explore the country's natural beauty and cultural heritage. Additionally, the COVID-19 pandemic has led to a surge in domestic tourism and outdoor activities, further driving the demand for camping-related products and services in Bulgaria.

Methodology

Data coverage:

Data refers to enterprises (B2C). Figures are based on camping nights, prices, average length of stay, and camping frequencies.

Modeling approach:

We use industry associations, UNWTO data, the Statista Consumer Insights survey, and pricing data of websites to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as tourism GDP, share of internet users, and demographic data.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For the camping market, Holt-Winters forecast, ARIMA, and Bayesian Ridge regression were used. The main drivers are the tourism GDP per capita and the share of internet users.

Additional notes: :

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