Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in Japan has been experiencing significant growth and evolution in recent years.
Customer preferences: Japanese consumers are increasingly seeking convenience and hassle-free travel experiences, which has led to a rising demand for package holidays. The all-inclusive nature of package holidays, including accommodation, transportation, and activities, appeals to busy individuals and families looking for a seamless vacation experience.
Trends in the market: One notable trend in the Package Holidays market in Japan is the shift towards personalized and unique travel packages. Travel companies are offering more customizable options to cater to the diverse preferences of Japanese travelers, including themed tours, cultural experiences, and off-the-beaten-path destinations. This trend reflects a growing desire for authentic and tailored travel experiences among Japanese tourists.
Local special circumstances: Japan's aging population and shrinking workforce have also influenced the Package Holidays market. As more older adults have time for leisure travel, there is a growing market for senior-friendly package holidays that cater to their needs and preferences. Additionally, working professionals in Japan are increasingly turning to package holidays as a convenient way to maximize their limited vacation time.
Underlying macroeconomic factors: The strong performance of the Japanese economy in recent years has contributed to the growth of the Package Holidays market. With rising disposable incomes and a stable economic environment, more Japanese consumers have the financial means to invest in travel experiences. Additionally, the government's efforts to promote tourism and improve infrastructure have made travel within Japan and abroad more accessible, further driving the demand for package holidays.
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)
