Package Holidays - Myanmar

Myanmar

Highlights

By 2024, the Package Holidays market in Myanmar is projected to reach a revenue of US$188.00m.
This is expected to grow annually at a rate of 7.90%, resulting in a market volume projection of US$274.90m by 2029.
In terms of user base, the market is expected to have 1.10m users users by 2029.
The user penetration rate is projected to increase from 1.7% in 2024 to 1.9% by 2029.
The average revenue per user (ARPU) is estimated to be US$206.60.
By 2029, online sales are expected to generate 61% of the total revenue in the Package Holidays market.
In comparison to other countries, China is expected to generate the most revenue in the market, with a projected revenue of US$49bn by 2024.
Myanmar's package holiday market is emerging, with a focus on cultural experiences and eco-tourism.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

In Myanmar, the Package Holidays market is experiencing significant growth and development.

Customer preferences: Customers in Myanmar are increasingly seeking convenience and hassle-free travel experiences, which has led to a rise in demand for package holidays. The all-inclusive nature of package holidays appeals to customers looking for a seamless and well-organized travel experience. Additionally, the desire for unique and curated travel experiences is driving customers to opt for package holidays that offer a variety of activities and cultural immersion opportunities.

Trends in the market: One noticeable trend in the Package Holidays market in Myanmar is the increasing focus on sustainable and responsible tourism practices. Travelers are showing a preference for eco-friendly accommodations, ethical excursions, and community-based tourism initiatives included in package holidays. This trend aligns with global movements towards sustainable tourism practices and reflects a growing awareness among customers in Myanmar about the environmental and social impact of their travel choices.

Local special circumstances: Myanmar's rich cultural heritage and diverse landscapes make it an attractive destination for travelers seeking authentic and immersive experiences. Package holidays in Myanmar often include visits to ancient temples, traditional villages, and scenic natural attractions, offering customers a chance to explore the country's unique cultural and natural heritage. The growing tourism infrastructure and improving connectivity within Myanmar are also contributing to the popularity of package holidays among both domestic and international travelers.

Underlying macroeconomic factors: The growing economy in Myanmar, coupled with increasing disposable incomes among the middle-class population, is fueling the demand for travel and tourism services, including package holidays. As more people in Myanmar have the financial means to travel, there is a corresponding increase in the demand for convenient and well-organized travel options like package holidays. Additionally, government initiatives to promote tourism and improve infrastructure are further supporting the growth of the Package Holidays market in Myanmar.

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.