Package Holidays - Zimbabwe | Statista Market Forecast

Zimbabwe is predicted to witness a noteworthy growth in the Package Holidays market.
In 2024, the revenue in this market is estimated to be US$45.49m.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 14.07%, which will result in a projected market volume of US$87.85m by 2029.
Moreover, the number of users in the Package Holidays market is expected to reach 261.20k users by 2029.
In 2024, user penetration is estimated to be 1.2%, which is expected to remain the same by 2029.
Furthermore, the average revenue per user (ARPU) is expected to be US$220.60.
The online sales will account for 82% of the total revenue by 2029.
Lastly, in terms of global comparison, the majority of revenue, which is projected to be US$49bn in 2024, will be generated China.
Despite the challenges faced by Zimbabwe's tourism industry, package holidays to the country offer unique opportunities to experience its rich cultural heritage and natural beauty.

Definition:

The Package Holidays market comprises of travel deals booked via online and offline travel agencies (e.g. Opodo, Expedia), directly from a tour operator (e.g. TUI) in a travel agency or by telephone. Package holidays normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.

Additional Information:

The main performance indicators of the Package Holidays market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues. Users represent the aggregated number of travelers. Each user is only counted once per year.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

For further information on the data displayed, refer to the info button right next to each box.

Contains travel and accommodation, further provisions can be included such as catering and tourist services

Non-packaged travel bookings

Over the past few years, the Package Holidays market in Zimbabwe has been experiencing a notable growth trajectory.

Customer preferences: Customers in Zimbabwe are increasingly seeking convenience and hassle-free travel experiences, which has been a significant driver for the growth of the Package Holidays market. The all-inclusive nature of package holidays, offering accommodation, meals, and activities in a single booking, appeals to customers looking for a seamless vacation experience.

Trends in the market: One prominent trend in the Zimbabwean Package Holidays market is the rise of domestic tourism. As more Zimbabweans explore and appreciate the beauty of their own country, there has been a surge in demand for domestic package holidays. This trend is also influenced by the desire for shorter travel distances and the opportunity to support local businesses.

Local special circumstances: Zimbabwe's unique natural attractions, such as Victoria Falls and national parks teeming with wildlife, play a crucial role in driving the Package Holidays market. Tour operators and travel agencies are capitalizing on these special circumstances by curating packages that showcase the country's rich cultural heritage and breathtaking landscapes.

Underlying macroeconomic factors: The stabilization of the economy and improvements in infrastructure have contributed to the growth of the Package Holidays market in Zimbabwe. With better transportation networks and increased investment in the tourism sector, the country has become more accessible to both domestic and international tourists. Additionally, government initiatives to promote tourism and attract foreign visitors have bolstered the demand for package holidays in the region.

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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