Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in Australia has been experiencing a notable shift in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Customers in Australia are increasingly seeking unique and personalized travel experiences, moving away from traditional package holidays towards more customized and experiential offerings. This shift can be attributed to the growing desire for authenticity and the rise of social media influencing travel decisions. Travelers are now looking for packages that cater to their specific interests and allow them to explore destinations in a more immersive way.
Trends in the market: One prominent trend in the Australian Package Holidays market is the rise of eco-friendly and sustainable travel options. Travelers are showing a preference for packages that promote environmental conservation and support local communities. This trend aligns with the global movement towards responsible tourism and reflects a growing awareness of the impact of travel on the environment. Another trend shaping the market is the increasing demand for wellness-focused package holidays. Australian travelers are prioritizing health and well-being during their vacations, leading to a surge in wellness retreats, spa packages, and mindfulness travel experiences. This trend mirrors the growing interest in self-care and holistic living observed worldwide.
Local special circumstances: Australia's unique geography and diverse landscapes play a significant role in shaping the Package Holidays market. The country's stunning natural attractions, from pristine beaches to rugged outback, offer a wide range of opportunities for travel packages. This diversity allows for the development of specialized tours catering to different interests, such as adventure travel, wildlife encounters, and cultural immersions. Additionally, the strong presence of indigenous cultures in Australia presents a unique selling point for package holidays. Travelers are increasingly seeking authentic indigenous experiences, including guided tours, traditional performances, and opportunities to learn about Aboriginal history and heritage. This focus on indigenous tourism sets Australia apart as a destination and influences the types of packages offered in the market.
Underlying macroeconomic factors: The overall economic stability and disposable income levels in Australia play a crucial role in driving the Package Holidays market. As the economy grows and consumer confidence remains high, more Australians are willing to invest in travel experiences, including premium package holidays. Additionally, factors such as currency exchange rates and airfare affordability can impact the competitiveness of package deals and influence travel decision-making among Australians.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)