Travel & Tourism - Turkmenistan

  • Turkmenistan
  • Turkmenistan is expected to witness significant growth in its Travel & Tourism market.
  • By 2024, the projected revenue for this market in the country is €50.36m.
  • Furthermore, it is anticipated that the market will experience a Compound Annual Growth Rate (CAGR) of 6.85% from 2024 to 2029, resulting in a market volume of €70.14m by the end of 2029.
  • The Package Holidays market is expected to dominate the market in Turkmenistan, with a projected market volume of €32.56m by 2024.
  • The number of users is also expected to increase, reaching 234.40k users by 2029.
  • Additionally, user penetration is expected to increase from 3.9% in 2024 to 4.7% in 2029.
  • The average revenue per user (ARPU) is forecasted to be €197.20.
  • It is also worth noting that 66% of the total revenue in the Travel & Tourism market in Turkmenistan is expected to be generated through online sales by 2029.
  • When compared globally, United States is expected to generate the most revenue in the Travel & Tourism market, with a projected revenue of €197bn in 2024.
  • Turkmenistan's government heavily regulates its tourism industry, limiting the number of tourists and controlling their itinerary.

Key regions: Malaysia, Europe, Singapore, Vietnam, United States

 
Mercado
 
Región
 
Comparación de regiones
 
Moneda
 

Analyst Opinion

Turkmenistan, a country known for its rich history and diverse cultural heritage, is experiencing a notable development in its Travel & Tourism market.

Customer preferences:
Travelers in Turkmenistan are increasingly seeking unique and authentic experiences, driving the demand for off-the-beaten-path destinations and cultural immersion. Tourists are showing a growing interest in exploring the country's historical sites, traditional crafts, and local cuisine, reflecting a global trend towards experiential travel.

Trends in the market:
One prominent trend in the Turkmenistan Travel & Tourism market is the government's efforts to promote the country as a tourist destination. Infrastructure development, such as the construction of new hotels and transportation facilities, is aimed at attracting more visitors. Additionally, the focus on sustainable tourism practices aligns with the growing global awareness of environmental conservation.

Local special circumstances:
Turkmenistan's unique cultural heritage and natural landscapes set it apart as a distinctive travel destination. The country's ancient Silk Road cities, architectural landmarks, and desert landscapes appeal to travelers looking for authentic cultural experiences. Moreover, Turkmenistan's traditional hospitality and warm welcome to visitors contribute to its appeal as a tourist-friendly destination.

Underlying macroeconomic factors:
The growth of the Travel & Tourism market in Turkmenistan is also influenced by macroeconomic factors such as government investment in the sector, improvements in transportation infrastructure, and political stability. As the country opens up to international visitors and diversifies its tourism offerings, the market is poised for further expansion.

Methodology

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.

Visión general

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Travel Behavior
  • Global Comparison
  • Methodology
  • Key Market Indicators
Espere, por favor

Contacto

¿Alguna duda? Estaremos encantados de atenderte.
Statista Locations
Contacto Nerea Marcos
Nerea Marcos
Client Success Manager

Lu - vi, 9:30 - 17:00 h (CET)

Contacto Meredith Alda
Meredith Alda
Sales Manager– Contacto (Estados Unidos)

Lu - vi, 9:00 - 18:00 h (EST)

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

Lu - vi, 9:00 - 17:00 h (SGT)

Contacto Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contacto (Asia)

Lu - vi, 10:00 - 18:00 h (JST)

Contacto Lodovica Biagi
Lodovica Biagi
Director of Operations– Contacto (Europa)

Lu - vi, 9:30 - 17:00 h (GMT)

Contacto Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contacto (América Latina)

Lu - vi, 9:00am-6:00pm (EST)