Key regions: Malaysia, Europe, Singapore, Vietnam, United States
Iran's Travel & Tourism market is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.
Customer preferences: Travelers in Iran are increasingly seeking unique and authentic experiences, driving demand for cultural and historical tourism. Tourists are drawn to the rich heritage and ancient sites in Iran, such as Persepolis and Isfahan's Imam Square. Additionally, there is a growing interest in eco-tourism, with travelers looking to explore the country's diverse landscapes, from lush forests to vast deserts.
Trends in the market: One noticeable trend in Iran's Travel & Tourism market is the rise of domestic tourism. Iranians are increasingly choosing to explore their own country, contributing to the growth of the local tourism industry. This trend is influenced by various factors, including government initiatives to promote domestic travel and the development of infrastructure to support tourism within the country.
Local special circumstances: Iran's Travel & Tourism market is also influenced by unique local circumstances, such as the country's geopolitical situation and international relations. Sanctions and travel restrictions have impacted the flow of international tourists to Iran, leading to a greater focus on domestic and regional tourism. The country's diverse cultural offerings and hospitable population continue to attract visitors despite external challenges.
Underlying macroeconomic factors: The development of Iran's Travel & Tourism market is supported by underlying macroeconomic factors, including government investment in infrastructure and tourism development. Initiatives to improve transportation networks, enhance accommodation options, and streamline visa processes contribute to the growth of the tourism sector. Additionally, efforts to promote Iran as a safe and welcoming destination play a crucial role in attracting both domestic and international tourists.
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.
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