Package Holidays - Fiji

Fiji

Highlights

The Package Holidays market in Fiji is projected to experience a significant revenue surge by 2024, with an estimated amount of US$1.58m.
Moreover, it is expected to showcase a compound annual growth rate (CAGR 2024-2029) of 6.22%, leading to a projected market volume of US$2.13m by 2029.
In terms of user base, the Package Holidays market in Fiji is expected to have 8.67k users users by 2029, while the user penetration is anticipated to decrease from 0.7% in 2024 to 0.9% by 2029.
The average revenue per user (ARPU) is expected to be US$226.00.
Furthermore, online sales are projected to account for 65% of the total revenue generated by the Package Holidays market in Fiji by 2029.
It is worth noting that in the global comparison, China is likely to generate the most revenue in this market, with an estimated amount of US$49bn in 2024.
Fiji's package holiday market continues to thrive due to its stunning beaches, rich culture, and warm hospitality.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Package Holidays market in Fiji has been experiencing notable developments in recent years.

Customer preferences: Travelers in Fiji are increasingly seeking convenience and value for money when planning their holidays. Package holidays provide an all-in-one solution that includes accommodation, meals, and activities, which appeals to those looking for a hassle-free vacation experience. Additionally, the opportunity to explore multiple destinations within a single trip is a key factor driving the demand for package holidays among Fijian travelers.

Trends in the market: One prominent trend in the Package Holidays market in Fiji is the rise of personalized and experiential packages. Travel companies are now offering customized itineraries that cater to the specific interests and preferences of individual travelers, such as eco-tourism experiences, cultural immersions, and adventure activities. This trend reflects a growing desire among tourists in Fiji for unique and authentic travel experiences that go beyond traditional holiday packages.

Local special circumstances: Fiji's unique geographical position in the South Pacific Ocean contributes to its appeal as a holiday destination. The country is known for its stunning beaches, crystal-clear waters, and vibrant coral reefs, making it a popular choice for beach lovers and water sports enthusiasts. The warm hospitality of the Fijian people and the rich cultural heritage of the islands also add to the overall allure of the destination for international travelers.

Underlying macroeconomic factors: The growth of the tourism industry in Fiji is supported by various macroeconomic factors, including stable economic conditions, government initiatives to promote tourism, and improved air connectivity with key source markets. As disposable incomes rise and travel becomes more accessible to a larger segment of the population, the demand for package holidays is expected to continue on an upward trajectory in Fiji. Additionally, the country's reputation as a safe and welcoming destination further enhances its competitiveness in the global tourism market.

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.