Package Holidays - Laos

Laos

Highlights

Laos is expected to see a significant growth in the Package Holidays market, with revenue projected to reach US$15.59m by 2024.
Moreover, the revenue is expected to grow annually at a rate of 8.40% from 2024 to 2029, resulting in a projected market volume of US$23.33m by 2029.
By this year, the number of users in this market is also expected to amount to 82.59k users, with a user penetration rate of 1.0%, up from 0.8% in 2024.
The average revenue per user (ARPU) is expected to reach US$247.00.
Additionally, 62% of the total revenue in the Package Holidays market is projected to come from online sales by 2029.
It is interesting to note that in global comparison, China is expected to generate the most revenue in this market with US$49bn by 2024.
As a relatively unexplored destination, Laos offers a unique cultural package holiday experience for travelers seeking an authentic Southeast Asian adventure.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Package Holidays market in Laos has been experiencing a significant growth in recent years.

Customer preferences: Travelers in Laos are increasingly seeking convenience and hassle-free vacation experiences, leading to a rising demand for package holidays. With busy lifestyles and limited time for trip planning, many customers prefer the all-inclusive nature of package holidays that offer accommodation, transportation, and activities in a single booking.

Trends in the market: One noticeable trend in the Package Holidays market in Laos is the diversification of offerings to cater to different customer segments. Tour operators are introducing specialized packages targeting various interests such as cultural tours, adventure holidays, and wellness retreats to attract a wider range of travelers. Additionally, there is a growing popularity of eco-friendly and sustainable package holidays in response to the increasing global focus on responsible tourism.

Local special circumstances: Laos, known for its rich cultural heritage and stunning natural landscapes, is becoming a more popular tourist destination, driving the growth of the Package Holidays market. The country's serene temples, lush forests, and picturesque rivers offer a unique setting for package holiday experiences. Moreover, the government's efforts to promote tourism and improve infrastructure have made it easier for tour operators to develop diverse and attractive holiday packages.

Underlying macroeconomic factors: The economic development and increasing disposable income in Laos have contributed to the growth of the Package Holidays market. As more people have the financial means to travel, there is a growing demand for convenient and well-organized holiday options, further fueling the expansion of the package holiday sector. Additionally, the stability and security of the country have boosted consumer confidence, encouraging more people to explore different travel opportunities, including 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.