Package Holidays - Greece

Greece

Highlights

Greece is expected to generate a revenue of US$940.10m in the Package Holidays market by 2024.
This is projected to have an annual growth rate (CAGR 2024-2029) of 3.96%, resulting in a market volume of US$1.14bn by 2029.
Looking at user numbers, the Package Holidays market in Greece is projected to have 2.43m users users by 2029.
In 2024, user penetration is expected to be 21.6%, which is projected to increase to 24.0% by 2029.
The average revenue per user (ARPU) is expected to be US$422.40.
Furthermore, it is projected that 86% of total revenue in this market will be generated through online sales by 2029.
Comparing globally, China is expected to generate the most revenue, reaching US$49bn by 2024.
Greece's package holiday market is characterized by a rise in demand for all-inclusive deals and a shift towards experiential travel.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Amidst the stunning beaches, ancient ruins, and vibrant culture of Greece, the Package Holidays market is experiencing significant growth and evolution.

Customer preferences: Tourists visiting Greece are increasingly seeking convenience and value for money, leading to a rise in demand for package holidays. Travelers appreciate the ease of booking an all-inclusive trip that covers accommodation, transportation, and activities in one package. This trend aligns with global preferences for hassle-free travel experiences that allow for more relaxation and exploration.

Trends in the market: In Greece, the Package Holidays market is witnessing a shift towards personalized and experiential travel packages. Tour operators are offering unique itineraries that cater to diverse interests, such as culinary tours, eco-friendly stays, and cultural immersion experiences. This trend reflects a growing desire among travelers to connect with the local culture and environment, making their holidays more meaningful and memorable.

Local special circumstances: Greece's rich history, stunning landscapes, and warm hospitality make it a top destination for package holidays. The country's diverse offerings, from the iconic Acropolis in Athens to the breathtaking beaches of the Greek islands, attract a wide range of travelers seeking different experiences. Additionally, the Greek government has been actively promoting tourism, investing in infrastructure, and enhancing the overall visitor experience, further boosting the Package Holidays market.

Underlying macroeconomic factors: The growth of the Package Holidays market in Greece is also influenced by macroeconomic factors such as currency exchange rates, economic stability, and global travel trends. Fluctuations in currency values can impact the affordability of travel packages for international tourists, while a stable economy and political environment create a favorable climate for tourism growth. Moreover, emerging travel trends, such as sustainable tourism and digital nomadism, are shaping the way package holidays are designed and marketed in Greece.

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.