Package Holidays - Asia

  • Asia
  • By 2024, it is projected that the revenue for the Package Holidays market will reach US$108.00bn.
  • The expected annual growth rate (CAGR 2024-2028) is 5.34%, which will result in a projected market volume of US$133.00bn by 2028.
  • Looking at the country-wise distribution, it is inferred that the highest revenue will be generated China, with an estimated revenue of US$59,860m in 2024.
  • In the Package Holidays market, the number of users is expected to rise to 309.90m users by 2028.
  • The user penetration rate is expected to increase from 6.4% in 2024 to 6.7% by 2028.
  • The average revenue per user (ARPU) is projected to be US$0.37k.
  • It is expected that 71% of the total revenue in the Package Holidays market will be generated through online sales by 2028.
  • This market is prevalent in Asia and is expected to make a significant contribution to the overall tourism industry of the region.
  • In Japan, package holidays that offer unique cultural experiences such as tea ceremonies and hot springs are becoming increasingly popular among tourists.

Key regions: United Kingdom, India, Indonesia, Germany, Malaysia

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Package Holidays market in Asia has been experiencing significant growth and development in recent years.

Customer preferences:
Customers in Asia are increasingly seeking convenience and hassle-free travel experiences, leading to a rise in demand for package holidays. The all-inclusive nature of package holidays, which typically include flights, accommodation, and activities, appeals to busy professionals and families looking for a seamless vacation experience.

Trends in the market:
In countries like Japan, South Korea, and China, there has been a noticeable shift towards experiential travel, with travelers showing a preference for unique and immersive experiences as part of their package holidays. This trend has led to the development of specialized packages that cater to specific interests such as cultural tours, culinary experiences, and adventure activities.

Local special circumstances:
In Southeast Asian countries like Thailand and Indonesia, the package holidays market is heavily influenced by the region's natural beauty and rich cultural heritage. Tour operators in these countries often design packages that showcase the best of what the destination has to offer, including pristine beaches, lush jungles, and ancient temples. Additionally, the affordability of package holidays in these countries makes them attractive to budget-conscious travelers.

Underlying macroeconomic factors:
The growing middle-class population in countries like India and Vietnam has been a key driver of the package holidays market in Asia. As disposable incomes rise, more people have the financial means to travel and are willing to spend on convenient and well-organized holiday packages. Additionally, the increasing connectivity and infrastructure development in the region have made it easier for tour operators to offer a wide range of package holiday options to cater to different preferences and budgets.

Methodology

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.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)