Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in Bhutan is experiencing a significant surge in popularity, driven by a combination of factors unique to the region.
Customer preferences: Travelers in Bhutan are increasingly seeking hassle-free and convenient holiday options, leading to a growing demand for package holidays. The all-inclusive nature of these packages, which often include accommodation, meals, transportation, and guided tours, appeals to customers looking for a seamless travel experience. Additionally, the curated itineraries offered by package holiday providers cater to the preferences of tourists looking to explore Bhutan's rich cultural heritage and stunning natural landscapes in a structured and efficient manner.
Trends in the market: One notable trend in the Package Holidays market in Bhutan is the rise of sustainable and eco-conscious tourism practices. Travelers are showing a preference for environmentally friendly tour operators that prioritize responsible travel initiatives and support local communities. This trend is in line with global movements towards sustainable tourism and reflects Bhutan's commitment to preserving its pristine environment and unique cultural heritage. Moreover, there is a growing interest in experiential travel among tourists, with an emphasis on authentic cultural experiences and interactions with local communities.
Local special circumstances: Bhutan's unique policy of high-value, low-impact tourism plays a significant role in shaping the Package Holidays market in the country. The government's focus on sustainability and preservation has created a niche market for exclusive and high-quality travel experiences. The limited number of tourists allowed to visit Bhutan each year contributes to the appeal of package holidays, as travelers can secure their permits and accommodations in advance through authorized tour operators. This exclusivity adds a sense of prestige to package holidays in Bhutan, attracting discerning travelers seeking a more curated and personalized travel experience.
Underlying macroeconomic factors: The economic stability and growth in Bhutan have also influenced the development of the Package Holidays market. As disposable incomes rise and the standard of living improves, more Bhutanese residents are inclined to explore domestic travel options, including package holidays within the country. This growing domestic tourism market complements the influx of international tourists seeking unique and immersive experiences in Bhutan. Additionally, government initiatives to promote tourism as a key economic sector have further boosted the demand for package holidays, driving innovation and diversification in the market offerings.
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)
