Key regions: Indonesia, Singapore, United States, India, Vietnam
The Cruises market in Ethiopia has been steadily growing in recent years, reflecting a global trend towards experiential travel and unique vacation experiences.
Customer preferences: Customers in Ethiopia are increasingly seeking unique and adventurous travel experiences, leading to a rise in demand for cruise vacations. The allure of exploring different destinations in a convenient and luxurious manner appeals to a growing segment of the Ethiopian population.
Trends in the market: One notable trend in the Ethiopian Cruises market is the increasing popularity of river cruises. Ethiopia's beautiful landscapes and historic sites along its rivers make it an attractive destination for travelers looking for a different cruising experience. Additionally, themed cruises focusing on cultural immersion and wildlife exploration are gaining traction among Ethiopian travelers.
Local special circumstances: Ethiopia's unique geographical features, such as its highlands, lakes, and rivers, offer a diverse range of cruising opportunities. The country's rich history and cultural heritage also contribute to the appeal of cruise vacations, with many travelers eager to explore ancient sites and traditional villages along the waterways.
Underlying macroeconomic factors: The growth of the Cruises market in Ethiopia is supported by the country's improving infrastructure and economic development. As disposable incomes rise and access to travel services increases, more Ethiopians are able to consider cruise vacations as a viable holiday option. Additionally, government initiatives to promote tourism and improve transportation links are further driving the expansion of the Cruises market in Ethiopia.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of cruises.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.
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