Package Holidays - Switzerland

  • Switzerland
  • It is forecasted that the Package Holidays market in Switzerland will generate a revenue of £1.10bn by 2024.
  • The revenue is expected to display a Compound Annual Growth Rate (CAGR 2024-2028) of -0.92%, resulting in a market volume projection of £1.06bn by 2028.
  • By 2028, the number of users in the Package Holidays market is expected to reach 1.23m users.
  • In 2024, the user penetration rate is 13.2% and is anticipated to increase to 13.6% by 2028.
  • The Average Revenue Per User (ARPU) is expected to be £0.94k.
  • It is also projected that 73% of the total revenue in the Package Holidays market will be generated through online sales by 2028.
  • Lastly, in comparison to other countries, the majority of the revenue will be generated China, with a projected revenue of £46,030m in 2024.
  • Switzerland's package holiday market is thriving due to its picturesque landscapes, diverse activities, and reputation for luxury travel experiences.

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

 
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Analyst Opinion

The Package Holidays market in Switzerland has been experiencing notable developments in recent years.

Customer preferences:
Travelers in Switzerland are increasingly seeking convenience and hassle-free holiday experiences, which has led to a growing demand for package holidays. Customers prefer the ease of booking an all-inclusive package that includes accommodation, transportation, and activities, allowing them to relax and enjoy their vacation without the stress of planning every detail.

Trends in the market:
One of the key trends in the Swiss package holidays market is the rise of personalized and tailored packages to cater to the diverse preferences of travelers. Tour operators are offering unique experiences and customized itineraries to attract customers looking for more exclusive and authentic holiday options. Additionally, there is a growing interest in sustainable and eco-friendly travel packages, reflecting the increasing awareness and concern for environmental issues among Swiss travelers.

Local special circumstances:
Switzerland's picturesque landscapes, charming cities, and well-preserved cultural heritage make it a popular destination for both domestic and international tourists. The country's reputation for luxury and high-quality service also influences the package holidays market, with travelers willing to pay premium prices for top-notch experiences. Furthermore, Switzerland's strategic location in the heart of Europe makes it a convenient hub for exploring neighboring countries, leading to the development of multi-destination package tours.

Underlying macroeconomic factors:
The stable and prosperous economy in Switzerland has contributed to the growth of the package holidays market, as consumers have more disposable income to spend on leisure activities. Additionally, the strong Swiss franc has made outbound travel more affordable for Swiss residents, encouraging them to explore international destinations through packaged holiday deals. The country's well-developed tourism infrastructure and efficient transportation network further support the expansion of the package holidays market in Switzerland.

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
  • User Demographics
  • Global Comparison
  • Methodology
  • Key Market Indicators
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