Travel & Tourism - Ireland | Statista Market Forecast

In 2024, the revenue in Ireland's Travel & Tourism market is projected to reach €2.67bn.
It is expected to grow annually at a rate of 3.97% resulting in a projected market volume of €3.28bn by 2029.
The largest market in the Irish market is the Hotels market, with a projected market volume of €1.33bn in 2024.
The number of users in this market is expected to reach 3.33m users by 2029.
The user penetration rate is expected to increase from 74.7% in 2024 to 85.8% by 2029.
The average revenue per user (ARPU) is projected to be €703.40.
By 2029, 73% of the total revenue in the Irish market will be generated through online sales.
In comparison to other countries, United States is expected to generate the highest revenue of €199bn in 2024 in the Travel & Tourism market.
Ireland's Travel & Tourism industry is experiencing a rise in popularity due to its rich cultural heritage and stunning natural landscapes.

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.)

The Travel & Tourism market in Ireland is experiencing significant growth and development, driven by a variety of factors.

Customer preferences: Travelers in Ireland are increasingly seeking unique and authentic experiences, moving away from traditional tourist hotspots to explore lesser-known regions and attractions. There is a growing demand for sustainable and eco-friendly travel options, with visitors showing a preference for environmentally conscious practices and accommodations.

Trends in the market: One notable trend in the Irish travel market is the rise of adventure tourism, with activities such as hiking, cycling, and water sports gaining popularity among both domestic and international travelers. Additionally, cultural and heritage tourism continues to thrive, as visitors flock to explore Ireland's rich history and vibrant arts scene. The emergence of food and drink tourism is also on the rise, with culinary experiences becoming a key driver for many travelers.

Local special circumstances: Ireland's unique cultural heritage, stunning landscapes, and warm hospitality make it a highly attractive destination for tourists. The country's rich history, including ancient castles, historic sites, and traditional music and dance, offers a diverse range of experiences for visitors to enjoy. Additionally, Ireland's reputation for producing high-quality food and beverages, such as whiskey, beer, and dairy products, has positioned it as a culinary hotspot in the global tourism market.

Underlying macroeconomic factors: The growth of the Travel & Tourism market in Ireland can also be attributed to favorable macroeconomic conditions, including strong economic growth, low unemployment rates, and increased disposable income levels. The government's focus on promoting tourism through marketing campaigns and infrastructure development has further boosted the industry, attracting a steady flow of visitors from around the world. Additionally, Ireland's membership in the European Union provides ease of travel for tourists and supports the overall stability of the sector.

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.