Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in Morocco is experiencing a notable growth trajectory.
Customer preferences: Travelers in Morocco are increasingly opting for package holidays due to the convenience and cost-effectiveness they offer. With busy lifestyles, many customers prefer the ease of having all aspects of their vacation organized for them, from accommodation to transportation and activities.
Trends in the market: One prominent trend in the Moroccan Package Holidays market is the rise of personalized and experiential packages. Travelers are looking for unique experiences that allow them to immerse themselves in the local culture and traditions. This trend is driving tour operators to design specialized packages that cater to these preferences, such as culinary tours, adventure trips, and wellness retreats.
Local special circumstances: Morocco's diverse landscape and rich cultural heritage make it a desirable destination for tourists seeking a blend of history, adventure, and relaxation. The country's strategic location between Europe and Africa also contributes to its appeal as a gateway for international travelers. Additionally, the Moroccan government's efforts to develop tourism infrastructure and promote the country as a safe and welcoming destination have further boosted the Package Holidays market.
Underlying macroeconomic factors: The growing middle class in Morocco, coupled with increasing disposable incomes, has led to a rise in domestic tourism. This trend is driving demand for package holidays among Moroccan residents looking to explore different regions of their own country. Additionally, Morocco's stable political environment and improving transport infrastructure have attracted foreign investment in the tourism sector, further fueling the growth of the Package Holidays market.
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.
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