Travel & Tourism - Ukraine | Statista Market Forecast

The projected revenue for the Travel & Tourism market in Ukraine is expected to reach US$690.30m by 2024.
Looking ahead, from 2024 to 2029, the market is expected to grow annually at a rate of 7.55%, resulting in a projected market volume of US$993.20m by 2029.
The largest market in Ukraine's Travel & Tourism market is the Package Holidays market, which is expected to reach a projected market volume of US$260.60m in 2024.
By 2029, the number of users for Package Holidays is expected to be 4.63m users.
In 2024, the user penetration rate is projected to be 13.7%, which is expected to increase to 18.7% by 2029.
The average revenue per user (ARPU) is expected to be US$132.80.
By 2029, online sales are projected to generate 84% of the total revenue for Ukraine's Travel & Tourism market.
In comparison with other countries, United States is expected to generate the most revenue in the Travel & Tourism market, with a projection of US$214bn in 2024.
Ukraine's travel and tourism industry is experiencing growth due to the country's rich cultural heritage and affordable prices.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism 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 and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

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.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

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

Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Ukraine's Travel & Tourism market is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Travelers in Ukraine are increasingly seeking unique and authentic experiences, moving away from traditional tourist attractions to explore off-the-beaten-path destinations. There is a growing interest in cultural immersion, local cuisine, and sustainable tourism practices among Ukrainian tourists. Additionally, there is a rising demand for personalized travel experiences and tailor-made itineraries that cater to individual preferences and interests.

Trends in the market: One notable trend in Ukraine's Travel & Tourism market is the increasing popularity of domestic tourism. Ukrainians are exploring their own country more than ever before, discovering hidden gems and lesser-known destinations within Ukraine. This trend is partly driven by a desire to support local businesses and promote domestic tourism growth. Moreover, there is a noticeable shift towards experiential travel, with travelers prioritizing activities and interactions that create lasting memories and connections.

Local special circumstances: Ukraine's diverse cultural heritage, rich history, and natural beauty play a significant role in shaping the Travel & Tourism market. The country's mix of historical landmarks, picturesque landscapes, and vibrant cities offers a wide range of attractions for both domestic and international tourists. Furthermore, Ukraine's affordable prices compared to other European destinations make it an attractive option for budget-conscious travelers seeking value for money.

Underlying macroeconomic factors: The political stability and improving infrastructure in Ukraine have contributed to the growth of the Travel & Tourism market. The government's efforts to promote tourism, enhance transportation networks, and simplify visa procedures have helped attract more visitors to the country. Additionally, the strengthening economy and rising disposable incomes have increased Ukrainians' spending power, enabling them to allocate more resources to travel and leisure activities.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.