Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
In recent years, the Package Holidays market in Egypt has been experiencing significant growth and development.
Customer preferences: Travelers in Egypt are increasingly seeking convenience and hassle-free experiences when planning their holidays. This has led to a growing demand for package holidays, where accommodation, flights, and activities are bundled together. Customers appreciate the simplicity and cost-effectiveness of these all-inclusive deals, allowing them to enjoy their vacation without worrying about the details.
Trends in the market: One notable trend in the Package Holidays market in Egypt is the rise of domestic tourism. Egyptians are exploring their own country more than ever before, driving the demand for package holidays to popular local destinations. This trend is also influenced by a growing middle class with disposable income and a desire to explore their own cultural heritage.
Local special circumstances: Egypt's unique cultural and historical attractions, such as the pyramids, temples, and Red Sea resorts, make it a compelling destination for both domestic and international travelers. The country's diverse offerings, including beach resorts, desert adventures, and ancient landmarks, contribute to the popularity of package holidays tailored to different interests.
Underlying macroeconomic factors: The stability and growth of Egypt's economy play a crucial role in the development of the Package Holidays market. As the country continues to invest in infrastructure, improve security measures, and promote tourism, more travelers are drawn to Egypt for their holidays. Additionally, partnerships between travel agencies, airlines, and hotels have made package holidays more accessible and attractive to a wider range of customers.
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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