Package Holidays - Ireland

Ireland

Highlights

In Ireland, the revenue of the Package Holidays market is forecasted to reach US$1.06bn by 2024.
The market is expected to grow at an annual rate of 3.60% from 2024 to 2029, resulting in a projected market volume of US$1.27bn by 2029.
Furthermore, the number of Package Holidays market users is estimated to reach 1.29m users by 2029.
The user penetration rate in the Package Holidays market is projected to decline from 21.7% in 2024 to 24.7% by 2029.
In addition, the average revenue per user (ARPU) is estimated to be US$962.30.
It is expected that 57% of total Package Holidays market revenue will be generated through online sales by 2029.
It is noteworthy that in terms of global comparison, China is expected to generate the most revenue in the Package Holidays market, with a revenue of US$49bn in 2024.
Ireland's package holiday market is increasingly focused on sustainable and eco-friendly tourism options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Package Holidays market in Ireland has been experiencing notable developments and shifts in recent years.

Customer preferences: Customers in Ireland have shown a growing preference for all-inclusive package holidays that offer convenience and value for money. This trend mirrors the global shift towards hassle-free travel experiences where everything from flights to accommodation and meals are bundled together. Additionally, there is an increasing demand for personalized and experiential travel packages that cater to individual preferences and interests.

Trends in the market: One prominent trend in the Irish Package Holidays market is the rise of eco-friendly and sustainable travel options. As awareness about environmental issues grows, more travelers are seeking eco-conscious holiday packages that minimize their carbon footprint. This trend is in line with the broader global movement towards sustainable tourism practices. Moreover, with the increased use of technology, online booking platforms and mobile apps have become popular among Irish consumers, providing easy access to a wide range of package holiday options.

Local special circumstances: Ireland's unique geographical features and cultural attractions play a significant role in shaping the Package Holidays market. The country's stunning landscapes, rich history, and warm hospitality make it a desirable destination for both domestic and international tourists. The popularity of themed holiday packages, such as heritage tours, adventure trips, and culinary experiences, reflects the diverse offerings that cater to different traveler interests. Additionally, Ireland's strong tourism infrastructure and well-developed transportation networks contribute to the accessibility and growth of the package holiday market.

Underlying macroeconomic factors: The steady economic growth and rising disposable incomes in Ireland have positively impacted the Package Holidays market. As more consumers feel financially secure, they are willing to spend on leisure travel and experiential holidays. The stable political environment and government support for the tourism sector further boost consumer confidence in booking package holidays. Additionally, currency exchange rates and external factors, such as Brexit and global economic conditions, can influence travel decisions and market trends in Ireland.

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.