Package Holidays - Angola | Statista Market Forecast

Angola is expected to witness a significant growth in the Package Holidays market as revenue is projected to reach US$105.00m by 2024, with an annual growth rate (CAGR 2024-2029) of 6.26%.
This growth will result in a projected market volume of US$142.20m by 2029.
By then, the number of users in this market is expected to amount to 610.00k users.
The user penetration in Angola is projected to hit 1.4% by 2029, while the average revenue per user (ARPU) is expected to be US$232.00.
Additionally, 60% of the total revenue in the Package Holidays market will be generated through online sales by 2029.
It is interesting to note that, in the global comparison, China is expected to generate the most revenue in this market with US$49bn in 2024.
Despite the growing interest in international travel among Angolans, the package holiday market in Angola remains underdeveloped.

Definition:

The Package Holidays market comprises of travel deals booked via online and offline travel agencies (e.g. Opodo, Expedia), directly from a tour operator (e.g. TUI) in a travel agency or by telephone. Package holidays normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.

Additional Information:

The main performance indicators of the Package Holidays 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. Users represent the aggregated number of travelers. Each user is only counted once per year.

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.

For further information on the data displayed, refer to the info button right next to each box.

Contains travel and accommodation, further provisions can be included such as catering and tourist services

Non-packaged travel bookings

The Package Holidays market in Angola has been experiencing significant growth and development in recent years.

Customer preferences: Angolan customers are increasingly seeking convenience and hassle-free travel experiences, which has led to a growing demand for package holidays. The all-inclusive nature of package holidays, which typically include flights, accommodation, meals, and activities, appeals to customers looking for a seamless vacation experience without the need to plan each detail individually.

Trends in the market: One notable trend in the Package Holidays market in Angola is the rise of domestic tourism. As more Angolans look to explore their own country and support the local tourism industry, there has been a noticeable increase in the availability and promotion of package holidays to domestic destinations. This trend not only boosts the domestic tourism sector but also contributes to the overall growth of the Package Holidays market in Angola.

Local special circumstances: The improving infrastructure and stability in Angola have played a crucial role in driving the growth of the Package Holidays market. With better transportation networks and a more secure environment, both domestic and international tourists feel more confident in exploring Angola through packaged holiday offerings. Additionally, the country's diverse natural landscapes and rich cultural heritage make it an attractive destination for packaged tours.

Underlying macroeconomic factors: The recovering economy in Angola has had a positive impact on the Package Holidays market. As disposable incomes rise and consumer confidence improves, more Angolans are willing to spend on travel and leisure activities, including packaged holidays. The strengthening economy has also attracted foreign investment in the tourism sector, leading to an expansion of package holiday options available in the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of package holidays.

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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