Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
Taiwan, known for its vibrant culture and stunning landscapes, has seen a notable growth in the Package Holidays market.
Customer preferences: Travelers in Taiwan are increasingly seeking convenience and hassle-free experiences when planning their holidays. The appeal of package holidays lies in the all-inclusive nature, offering a one-stop solution for accommodation, transportation, and activities. This trend aligns with global preferences where travelers are opting for curated experiences that save time and effort in trip planning.
Trends in the market: One prominent trend in the Package Holidays market in Taiwan is the rise of themed and niche packages catering to specific interests such as eco-tourism, adventure travel, or wellness retreats. These specialized packages resonate well with Taiwanese travelers who are looking for unique and personalized experiences. Additionally, there is a growing demand for family-friendly package holidays that cater to the needs of multigenerational travelers.
Local special circumstances: Taiwan's geographical location as an island nation offers a diverse range of attractions, from bustling cities to picturesque coastlines and mountainous regions. This variety allows for a wide selection of package holiday options, including city tours, beach getaways, and nature excursions. The local cuisine, rich history, and vibrant festivals further enhance the appeal of package holidays in Taiwan, providing travelers with a culturally immersive experience.
Underlying macroeconomic factors: The steady economic growth in Taiwan has contributed to an increase in disposable income among its residents, enabling more people to afford package holidays. As the middle class expands, there is a growing segment of the population with the financial means to invest in travel experiences. Additionally, government initiatives to promote tourism and improve infrastructure have made Taiwan an attractive destination for both domestic and international travelers, 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.
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)
