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Lu - vi, 9:00 - 18:00 h (EST)
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Key regions: Malaysia, Europe, Singapore, Vietnam, United States
The Travel & Tourism market in Ireland is experiencing significant growth and development, driven by a variety of factors.
Customer preferences: Travelers in Ireland are increasingly seeking unique and authentic experiences, moving away from traditional tourist hotspots to explore lesser-known regions and attractions. There is a growing demand for sustainable and eco-friendly travel options, with visitors showing a preference for environmentally conscious practices and accommodations.
Trends in the market: One notable trend in the Irish travel market is the rise of adventure tourism, with activities such as hiking, cycling, and water sports gaining popularity among both domestic and international travelers. Additionally, cultural and heritage tourism continues to thrive, as visitors flock to explore Ireland's rich history and vibrant arts scene. The emergence of food and drink tourism is also on the rise, with culinary experiences becoming a key driver for many travelers.
Local special circumstances: Ireland's unique cultural heritage, stunning landscapes, and warm hospitality make it a highly attractive destination for tourists. The country's rich history, including ancient castles, historic sites, and traditional music and dance, offers a diverse range of experiences for visitors to enjoy. Additionally, Ireland's reputation for producing high-quality food and beverages, such as whiskey, beer, and dairy products, has positioned it as a culinary hotspot in the global tourism market.
Underlying macroeconomic factors: The growth of the Travel & Tourism market in Ireland can also be attributed to favorable macroeconomic conditions, including strong economic growth, low unemployment rates, and increased disposable income levels. The government's focus on promoting tourism through marketing campaigns and infrastructure development has further boosted the industry, attracting a steady flow of visitors from around the world. Additionally, Ireland's membership in the European Union provides ease of travel for tourists and supports the overall stability of the sector.
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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)