Key regions: United Kingdom, India, Indonesia, Germany, Malaysia
The Package Holidays market in South America is witnessing a surge in popularity among travelers seeking convenient and hassle-free vacation experiences.
Customer preferences: Customers in South America are increasingly opting for package holidays due to the convenience and cost-effectiveness they offer. With busy lifestyles, travelers are looking for all-inclusive packages that cover accommodation, meals, transportation, and activities, allowing them to relax and enjoy their vacation without the stress of planning.
Trends in the market: In Brazil, the largest market in South America, there is a growing demand for package holidays to domestic beach destinations such as Rio de Janeiro and Salvador. Travelers are attracted to the convenience of bundled deals that include flights, hotels, and tours, making it easier for them to explore the country's diverse attractions. In Argentina, cultural and adventure package holidays are gaining popularity, with travelers showing interest in exploring the country's rich heritage and natural landscapes. Tour operators are offering specialized packages that cater to these preferences, including visits to historical sites, wine tasting tours, and outdoor activities like hiking and skiing.
Local special circumstances: In countries like Peru and Chile, where tourism is a significant contributor to the economy, the government is actively promoting package holidays to boost visitor numbers and support the industry. Special initiatives and campaigns are being launched to highlight the unique attractions and experiences available in these countries, encouraging travelers to choose all-inclusive packages for their trips.
Underlying macroeconomic factors: The improving economic conditions in South America are also driving the growth of the package holidays market. As disposable incomes rise and consumer confidence increases, more people are willing to spend on travel experiences. This trend is further supported by the strengthening of the tourism infrastructure in the region, with new hotels, resorts, and transportation services catering to the growing demand for packaged vacations.
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)
