The Flights market in Africa has been experiencing significant growth in recent years, driven by various factors such as increasing disposable income, expanding tourism industry, and improving infrastructure.
Customer preferences: Customers in Africa are increasingly opting for air travel due to its convenience and time-saving benefits. With the rise in disposable income, more people are able to afford air travel, leading to a higher demand for flights. Additionally, the growing middle class in many African countries has contributed to the increase in air travel as people are now able to afford vacations and business trips.
Trends in the market: One of the key trends in the African flights market is the expansion of low-cost carriers. These airlines offer affordable fares, making air travel more accessible to a larger population. This has led to increased competition in the market and has also encouraged more people to choose air travel over other modes of transportation. Another trend in the market is the growth of regional and domestic flights. As the tourism industry in Africa continues to flourish, there has been an increasing demand for flights within the continent. Many African countries are investing in their airports and infrastructure to accommodate this growing demand.
Local special circumstances: Africa is known for its diverse and unique tourist attractions, such as wildlife safaris, historical sites, and beautiful landscapes. This has attracted a large number of international tourists to the continent, further driving the demand for flights. Additionally, Africa has a large diaspora spread across the globe, and many people travel back to their home countries for holidays or family visits. This has also contributed to the growth of the flights market in Africa.
Underlying macroeconomic factors: The economic growth in many African countries has had a positive impact on the flights market. As economies continue to develop, more people are able to afford air travel. Additionally, governments in Africa are investing in infrastructure development, including the expansion and improvement of airports. This has made air travel more convenient and accessible, further boosting the demand for flights. In conclusion, the Flights market in Africa is experiencing significant growth due to increasing disposable income, expanding tourism industry, and improving infrastructure. Customers are opting for air travel due to its convenience and time-saving benefits. The market is witnessing the expansion of low-cost carriers and an increase in regional and domestic flights. Africa's unique tourist attractions and large diaspora population are also driving the demand for flights. The economic growth and infrastructure development in many African countries are underlying macroeconomic factors that contribute to the growth of the flights market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of flights.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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
