Key regions: Singapore, India, Indonesia, Germany, Saudi Arabia
The Package Holidays market in United Arab Emirates is experiencing significant growth and development in recent years.
Customer preferences: Customers in the United Arab Emirates are increasingly seeking convenience and hassle-free travel experiences, which has led to a rising demand for package holidays. The all-inclusive nature of package holidays, including flights, accommodation, meals, and activities, appeals to busy professionals and families looking for a seamless vacation experience.
Trends in the market: One notable trend in the Package Holidays market in the United Arab Emirates is the diversification of offerings to cater to different customer segments. Travel companies are introducing specialized packages targeting various demographics, such as luxury travelers, adventure seekers, and budget-conscious individuals. Additionally, there is a growing interest in experiential travel, with packages that focus on unique cultural experiences and off-the-beaten-path destinations gaining popularity.
Local special circumstances: The United Arab Emirates' strategic location as a travel hub and its world-class infrastructure make it an attractive destination for both tourists and travel companies. The country's diverse landscape, from stunning beaches to sprawling deserts, offers a wide range of experiences that can be packaged into appealing holiday deals. Moreover, the UAE's reputation for luxury and hospitality aligns well with the high-end segment of the package holidays market.
Underlying macroeconomic factors: The robust economy of the United Arab Emirates, driven by industries such as tourism, trade, and finance, provides a strong foundation for the growth of the Package Holidays market. As disposable incomes rise and the middle class expands, more residents are able to afford travel packages, fueling demand in the market. Additionally, government initiatives to promote tourism and investment in infrastructure further support the development of the package holidays sector.
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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