Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in Sweden has been experiencing a notable shift in recent years, reflecting changing consumer preferences and local special circumstances.
Customer preferences: Swedish travelers are increasingly seeking personalized and unique experiences when booking package holidays. They are looking for more flexibility in terms of itinerary customization, accommodation options, and activities included in their packages. This shift towards personalized travel experiences is driven by a desire for authenticity and a deeper connection with the local culture and environment.
Trends in the market: One of the prominent trends in the Package Holidays market in Sweden is the growing demand for sustainable and eco-friendly travel options. Travelers are becoming more conscious of their environmental impact and are actively seeking tour operators that offer sustainable practices and support local communities. This trend is influencing the types of package holidays being offered, with an emphasis on eco-friendly accommodations, responsible tourism activities, and carbon-neutral transportation options.
Local special circumstances: Sweden's geographic location and natural attractions play a significant role in shaping the Package Holidays market. The country's diverse landscapes, including picturesque forests, lakes, and coastal areas, attract travelers looking for outdoor adventures and nature-based experiences. Tour operators are capitalizing on these special circumstances by designing package holidays that highlight Sweden's natural beauty and offer activities such as hiking, kayaking, and wildlife watching.
Underlying macroeconomic factors: The strong economy in Sweden has contributed to the growth of the Package Holidays market, as consumers have more disposable income to spend on travel. Additionally, the increasing trend of remote work and flexible schedules has allowed Swedes to take longer vacations and explore new destinations through package holidays. The favorable exchange rates and competitive pricing offered by tour operators have also made international travel more accessible and appealing to Swedish travelers.
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)
