Package Holidays - Lebanon

Lebanon

Highlights

Lebanon is expected to witness a rise in revenue for the Package Holidays market, with a projected revenue of US$393.40m in 2024.
Moreover, the revenue is expected to grow annually at a rate of 4.19%, resulting in a projected market volume of US$483.00m by 2029.
Additionally, the number of users is expected to reach 513.10k users by 2029.
As of 2024, the user penetration rate is 9.9% and is expected to rise to 10.8% by 2029.
The average revenue per user (ARPU) is expected to be US$761.90.
By 2029, 88% of the total revenue in the Package Holidays market is expected to be generated through online sales.
It is worth noting that China is projected to generate the most revenue in the global comparison, with a revenue of US$49bn in 2024.
Lebanon's package holiday market is seeing a renewed interest in cultural tours, showcasing the country's rich history and diverse heritage.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Lebanon, known for its rich history, vibrant culture, and stunning landscapes, has seen a notable development in the Package Holidays market in recent years.

Customer preferences: Travelers in Lebanon are increasingly seeking convenience and hassle-free experiences when planning their vacations. This has led to a growing demand for package holidays that offer all-inclusive deals, including flights, accommodation, meals, and activities. Customers appreciate the simplicity and cost-effectiveness of these packages, allowing them to enjoy a curated travel experience without the stress of planning every detail.

Trends in the market: One prominent trend in the Package Holidays market in Lebanon is the rise of niche and specialized packages tailored to specific interests and demographics. From adventure holidays for thrill-seekers to wellness retreats for relaxation enthusiasts, tour operators are diversifying their offerings to cater to a wide range of preferences. Additionally, there is a noticeable shift towards sustainable and eco-friendly packages, reflecting a growing global awareness of environmental issues among Lebanese travelers.

Local special circumstances: Lebanon's unique geographical location, nestled between the Mediterranean Sea and the Middle East, offers a diverse array of attractions for tourists. From ancient ruins and historical sites to bustling markets and picturesque beaches, the country has something to offer every type of traveler. This rich cultural heritage and natural beauty make Lebanon an appealing destination for package holidays, attracting visitors from both neighboring countries and international markets.

Underlying macroeconomic factors: Despite facing economic challenges in recent years, Lebanon's tourism industry has shown resilience and adaptability. The depreciation of the local currency has made Lebanon a more affordable destination for foreign tourists, driving an increase in inbound travel. Additionally, the government's efforts to promote tourism and improve infrastructure have contributed to the growth of the Package Holidays market. As the country continues to rebuild and revitalize its tourism sector, the outlook for package holidays in Lebanon remains positive.

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.