Market Insights Mobility Travel & Tourism

Package Holidays - Americas

Americas

By 2024, the Package Holidays market in the Americas is expected to generate a revenue of €49.05bn.
It is projected to achieve an annual growth rate of 1.43% between 2024 and 2028, leading to an estimated market volume of €51.92bn in 2028.
The number of users in this market is expected to reach 96.08m users by 2028, while the user penetration is projected to decline from 9.2% in 2024 to 9.2% in 2028.
The average revenue per user (ARPU) is anticipated to be €0.53k.
Moreover, online sales are expected to generate 75% of the total revenue in the Package Holidays market by 2028.
In comparison, China is projected to generate the most revenue, reaching €54,720m in 2024.
Package holidays in the United States are becoming increasingly popular for both domestic and international travelers seeking hassle-free vacation experiences.

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

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Analyst Opinion

The Package Holidays market in Americas is witnessing a significant shift in consumer preferences and market trends, driven by various factors influencing the travel industry.

Customer preferences: Travelers in the Americas are increasingly seeking convenience and hassle-free experiences when planning their holidays. The demand for all-inclusive package holidays is on the rise as customers look for options that offer a combination of accommodation, meals, and activities in a single booking. This trend is particularly popular among families and older travelers who value the simplicity and cost-effectiveness of package deals.

Trends in the market: In the United States, the Package Holidays market is seeing a surge in demand for curated travel experiences that cater to specific interests such as adventure, wellness, or cultural immersion. Tour operators are diversifying their offerings to include niche packages that appeal to different traveler segments, reflecting the growing demand for personalized and unique holiday experiences.

Local special circumstances: In Mexico, the Package Holidays market is influenced by the country's rich cultural heritage and natural attractions. Tourists are drawn to all-inclusive resorts along the beautiful coastlines, offering a blend of relaxation, entertainment, and local experiences. The presence of historical sites and vibrant cities further enhances the appeal of package holidays in Mexico, attracting both domestic and international travelers.

Underlying macroeconomic factors: Economic stability and disposable income levels play a crucial role in shaping the Package Holidays market across the Americas. Countries with strong economies and a growing middle class are experiencing robust demand for travel packages, indicating a positive correlation between income levels and consumer spending on holidays. Additionally, currency exchange rates and inflation rates can impact the affordability of package deals, influencing travel decisions in the region.

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.