Key regions: Malaysia, Europe, Singapore, Vietnam, United States
The Travel & Tourism market in Netherlands has been experiencing significant growth and development in recent years.
Customer preferences: Travelers in Netherlands are increasingly seeking unique and authentic experiences, moving away from traditional tourist attractions to explore off-the-beaten-path destinations. There is a growing interest in sustainable and eco-friendly travel options, with a focus on reducing carbon footprints and supporting local communities.
Trends in the market: One notable trend in the Dutch travel market is the rise of experiential travel, where visitors are looking to immerse themselves in the local culture and lifestyle. This has led to an increase in demand for personalized travel experiences, such as culinary tours, art workshops, and homestays. Additionally, the popularity of adventure tourism, including activities like cycling, hiking, and water sports, has been on the rise.
Local special circumstances: Netherlands is known for its picturesque landscapes, historic cities, and vibrant cultural scene, making it a popular destination for tourists from around the world. The country's efficient transportation infrastructure, including well-connected public transportation networks and extensive cycling paths, makes it easy for travelers to explore the country. Moreover, the Dutch emphasis on sustainability and environmental conservation has influenced the development of eco-friendly tourism initiatives.
Underlying macroeconomic factors: The growth of the Travel & Tourism market in Netherlands can be attributed to several macroeconomic factors, including a strong economy, low unemployment rates, and increasing disposable incomes. The country's stable political environment and safety record also make it an attractive destination for international visitors. Additionally, government initiatives to promote tourism, such as investment in infrastructure and marketing campaigns, have further boosted the industry's growth.
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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