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Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in Estonia has been witnessing significant growth in recent years, reflecting the changing preferences and behaviors of customers in the country.
Customer preferences: Customers in Estonia are increasingly seeking convenience and hassle-free travel experiences, which has led to a rising demand for package holidays. The all-inclusive nature of these holidays, offering accommodation, transportation, and activities in a single package, appeals to customers looking for a seamless vacation experience without the need to plan every detail themselves.
Trends in the market: One notable trend in the Package Holidays market in Estonia is the diversification of offerings to cater to different customer segments. Travel companies are now customizing packages to suit the preferences of various demographics, such as families, couples, and solo travelers. Additionally, there is a growing interest in eco-friendly and sustainable travel options, prompting providers to include environmentally conscious choices in their packages.
Local special circumstances: Estonia's unique geographical location and natural landscapes play a significant role in shaping the Package Holidays market in the country. The diverse attractions, including the picturesque Baltic Sea coastline, historic old towns, and lush national parks, offer a wide range of experiences for holidaymakers. This variety allows travel companies to design packages that showcase the rich cultural heritage and natural beauty of Estonia.
Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Estonia have contributed to the growth of the Package Holidays market. With more people able to afford travel experiences, there is a growing demand for packaged holidays that offer value for money and quality services. Additionally, the rise of digital platforms and online booking systems has made it easier for customers to research, compare, and book package holidays, further driving the market growth.
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)