Bus Tickets - Ghana | Statista Market Forecast

It is expected that the revenue in Ghana's Bus Tickets market will reach US$1.88m by 2024.
The revenue is projected to grow annually at a rate of 6.33% (CAGR 2024-2029), resulting in a market volume of US$2.55m by 2029.
The number of users is expected to reach 592.40k users by 2029, with a projected user penetration of 1.3% in 2024 and 1.6% by 2029.
The average revenue per user (ARPU) is expected to be US$4.32.
Online sales are projected to generate 35% of the total revenue in the Bus Tickets market by 2029.
It is worth noting that in comparison to other countries, China is expected to generate the highest revenue of US$5bn in 2024.
Ghana's bus market is experiencing growth with the government's investment in public transportation infrastructure.

Definition:

The Bus tickets market consists of tickets for long-distance travel or cross-regional travel by bus or coach. This includes country-specific providers of bus transport, e.g., Eurolines, National Express and Greyhound. As a rule, travel for single passengers and groups or time-limited subscription-based travel can be booked up to a year in advance. Tickets for public transport, for within a city or other local travel are not included.

Additional Information:

The main performance indicators of the Bus tickets market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Tickets for long-distance travel or cross-regional travel by bus or coach
Time-limited subscription based travel
Line service and regular, scheduled bus service
All online and offline booked long-distance bus tickets regardless of the purchase channel

Tickets for public transport, for within a city or other local travel
Bus trips that are organized as an excursion or specifically for a travel group

The Buses market in Ghana has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Ghana have been shifting towards more fuel-efficient and environmentally friendly vehicles. This is in line with global trends where customers are increasingly conscious of the impact of their choices on the environment. As a result, there has been a growing demand for buses that run on alternative fuels such as natural gas or electricity. Customers are also looking for buses that are comfortable, safe, and equipped with modern amenities. Trends in the market indicate that the demand for buses in Ghana is expected to continue growing in the coming years. This can be attributed to the country's rapid urbanization and population growth, which has led to an increase in the need for public transportation. Additionally, the government has been investing in infrastructure development, including the construction of new roads and highways, which further drives the demand for buses. Local special circumstances in Ghana also contribute to the development of the Buses market. The country has a large informal sector, with many small businesses operating in the transportation industry. These businesses often rely on buses for their operations, creating a constant demand for new vehicles. Furthermore, Ghana has a thriving tourism industry, attracting both domestic and international tourists who require transportation services, further driving the demand for buses. Underlying macroeconomic factors play a significant role in the development of the Buses market in Ghana. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has resulted in a higher demand for transportation services, including buses. Additionally, the government has implemented policies to promote the growth of the manufacturing sector, which includes the production of buses. This has attracted investment and created employment opportunities, further stimulating the market. In conclusion, the Buses market in Ghana is developing due to customer preferences for fuel-efficient and environmentally friendly vehicles, market trends driven by urbanization and infrastructure development, local special circumstances such as the informal sector and tourism industry, and underlying macroeconomic factors such as stable economic growth and government policies.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bus tickets.

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, third-party studies and reports, federal statistical offices, industry associations, and price data. 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 demographic data, GDP, consumer spending, internet penetration, and device usage. 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, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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