Camping - Cyprus | Statista Market Forecast

Camping - Cyprus

Cyprus

Highlights

Cyprus is projected to generate a revenue of US$439.30k in the Camping market by 2024.
This revenue is expected to witness a Compound Annual Growth Rate (CAGR 2024-2029) of 4.64%, ultimately resulting in a market volume of US$551.10k by 2029.
Furthermore, the Camping market in Cyprus is expected to have 7.33k users users by 2029.
As of 2024, the user penetration in this market is 0.4%, and it is expected to reach 0.6% by 2029.
The projected Average Revenue Per User (ARPU) is US$77.89.
Additionally, 62% of the total revenue generated in the Camping market is expected to come from online sales by 2029.
It is worth noting that in comparison to other countries worldwide, United States is expected to generate the highest revenue (US$26bn in 2024) in the Camping market.
The camping market in Cyprus is experiencing growth due to the country's beautiful beaches, warm weather, and natural landscapes.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Camping market in Cyprus has been experiencing a significant growth in recent years, reflecting the global trend of increased interest in outdoor activities and nature-based experiences.

Customer preferences: Customers in Cyprus are showing a growing preference for camping as a way to connect with nature, escape the hustle and bustle of urban life, and engage in sustainable tourism practices. The desire for authentic experiences, adventure, and the opportunity to explore the natural beauty of Cyprus is driving more people towards camping as a preferred accommodation choice.

Trends in the market: One noticeable trend in the Camping market in Cyprus is the rise of glamping, a luxurious form of camping that offers unique and upscale accommodation options in picturesque natural settings. This trend caters to customers seeking comfort and convenience while still enjoying the outdoor experience. Additionally, there has been an increase in eco-friendly and sustainable camping practices, aligning with the global shift towards responsible tourism.

Local special circumstances: Cyprus's unique geographical features, including stunning coastlines, lush forests, and diverse landscapes, make it an ideal destination for camping enthusiasts. The island's Mediterranean climate, with mild winters and warm summers, further enhances the appeal of outdoor activities such as camping. The presence of well-maintained campgrounds and facilities across the country also contributes to the growth of the Camping market in Cyprus.

Underlying macroeconomic factors: The growth of the Camping market in Cyprus can also be attributed to broader macroeconomic factors such as the increasing popularity of domestic tourism and the rise of the sharing economy. As more people seek affordable travel options and authentic experiences, camping emerges as a cost-effective and immersive way to explore Cyprus. Additionally, the impact of the COVID-19 pandemic has led to a surge in demand for outdoor activities and remote destinations, further driving the growth of the Camping market in Cyprus.

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.