Package Holidays - Chile | Statista Market Forecast

It is projected that by 2024, the revenue in the Package Holidays market in Chile will reach US$1.24bn.
Furthermore, it is expected that revenue will experience an annual growth rate of 5.29% (CAGR 2024-2029).
These figures will result in a projected market volume of US$1.60bn by 2029.
It is estimated that the number of users in the Package Holidays market in Chile will amount to 3.50m users by 2029.
In 2024, user penetration is predicted to be 15.2% and is expected to increase to 17.6% by 2029.
The average revenue per user (ARPU) is expected to amount to US$415.20.
By 2029, it is projected that 82% of the total revenue generated in the Package Holidays market in Chile will come from online sales.
It is interesting to note that in global comparison, the highest revenue is anticipated to be generated China with a projected revenue of US$49bn in 2024.
Chilean package holiday market is seeing a rise in demand for eco-tourism and adventure-based activities.

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 Chile has been experiencing significant growth and transformation in recent years.

Customer preferences: Customers in Chile are increasingly seeking convenience and hassle-free travel experiences, which has boosted the demand for package holidays. The all-inclusive nature of package holidays appeals to busy professionals and families looking for a seamless vacation experience without the stress of planning every detail.

Trends in the market: One notable trend in the Chilean package holidays market is the rise of eco-friendly and sustainable travel options. Travelers are becoming more conscious of their environmental impact and are actively seeking package holidays that prioritize sustainability. This trend has led to the emergence of eco-friendly resorts and tour operators offering green package holiday options in Chile.

Local special circumstances: Chile's diverse geography and natural beauty make it an attractive destination for package holidays. From the Atacama Desert in the north to the pristine lakes and mountains in the south, Chile offers a wide range of experiences for package holiday travelers. The country's rich cultural heritage and vibrant cities also contribute to its appeal as a package holiday destination.

Underlying macroeconomic factors: The growing middle class in Chile, coupled with increasing disposable incomes, has fueled the demand for package holidays among domestic travelers. As more Chileans have the financial means to travel, the package holidays market has expanded to cater to this growing segment of the population. Additionally, government initiatives to promote tourism and infrastructure development have further supported the growth of the package holidays market in Chile.

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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