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Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in BRICS countries is experiencing significant growth and development.
Customer preferences: Customers in BRICS countries are increasingly seeking convenience and affordability when planning their holidays. Package holidays offer a hassle-free travel experience with all-inclusive deals that cover accommodation, transportation, and activities. This appeals to busy professionals and families looking for a convenient way to book their vacations.
Trends in the market: In Brazil, there is a growing trend towards all-inclusive beach resorts, where travelers can enjoy a relaxing holiday without worrying about additional costs. Russia is seeing an increase in demand for package holidays to exotic destinations like Thailand and the Maldives, offering a mix of cultural experiences and luxury accommodation. Indian travelers are increasingly opting for package tours to Europe and Southeast Asia, attracted by the ease of planning and competitive pricing. In China, there is a rise in demand for customized package holidays that cater to specific interests such as shopping, food, or adventure.
Local special circumstances: In Brazil, the economic downturn has led to a shift in consumer behavior towards seeking value for money, making package holidays an attractive option. Russia's harsh winters drive demand for package holidays to warm destinations during the peak holiday season. India's large population and diverse cultural heritage make it a popular destination for both domestic and international package holidays. China's growing middle-class population has fueled the demand for outbound package holidays to explore new destinations.
Underlying macroeconomic factors: The economic growth and rising disposable incomes in BRICS countries have contributed to the development of the Package Holidays market. As more people have the means to travel, there is a growing demand for convenient and affordable holiday options. Additionally, improvements in infrastructure and transportation have made it easier for tour operators to offer a wide range of package holidays to cater to different customer preferences.
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)