Flights - Angola | Statista Market Forecast

Flights - Angola

Angola

Highlights

Angola is projected to generate a revenue of US$1.11bn in the Flights market by 2024.
The market volume is expected to reach US$1.47bn by 2029, with an annual growth rate (CAGR 2024-2029) of 5.79%.
The number of users in Angola is expected to be 4.14m users by 2029.
By 2024, the user penetration is projected to be 7.8%, which is expected to increase to 9.5% by 2029.
The average revenue per user (ARPU) is expected to be US$375.90.
In Angola's Flights market, a significant portion of the total revenue, that is 69%, will be generated through online sales by 2029.
It is noteworthy that in global comparison, United States is expected to generate the highest revenue of US$143bn in 2024.
Despite the challenges posed by Angola's limited infrastructure, the country's growing middle class is driving demand for domestic and international flights.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Angola has been experiencing significant growth in recent years.

Customer preferences: Angolan customers have shown a growing interest in air travel, both domestically and internationally. This can be attributed to several factors, such as increasing disposable income, a desire for convenience and efficiency, and a growing middle class. Customers are increasingly valuing comfort and convenience when it comes to travel, and are willing to pay more for premium services and amenities. Additionally, with the rise of social media and influencers, there is a growing desire among customers to explore new destinations and share their travel experiences with others.

Trends in the market: One of the key trends in the Flights market in Angola is the increasing number of airlines operating in the country. This has resulted in greater competition, leading to more affordable airfares and a wider range of flight options for customers. As a result, air travel has become more accessible to a larger segment of the population. Additionally, airlines are expanding their routes to include more destinations, both within Africa and internationally, catering to the growing demand for travel. Another trend in the market is the increasing use of technology in the booking process. Customers are increasingly turning to online platforms and mobile apps to search for flights, compare prices, and make bookings. This has made the booking process more convenient and efficient, allowing customers to easily find the best deals and plan their travel itineraries.

Local special circumstances: Angola is a country with vast natural beauty and cultural heritage, making it an attractive destination for both domestic and international tourists. The government has recognized the potential of the tourism industry and has been making efforts to promote Angola as a tourist destination. This has included initiatives to improve infrastructure, such as the expansion and modernization of airports, which has contributed to the growth of the Flights market.

Underlying macroeconomic factors: The growth of the Flights market in Angola can be attributed to several underlying macroeconomic factors. The country has experienced a period of economic stability and growth in recent years, driven by the oil industry and increased foreign investment. This has resulted in a growing middle class with higher disposable income, which has translated into increased demand for air travel. Furthermore, Angola has made efforts to improve its business environment and attract foreign investment, which has led to the establishment of more international companies and the growth of business travel. This, coupled with the government's focus on diversifying the economy beyond oil, has contributed to the growth of the Flights market. In conclusion, the Flights market in Angola is experiencing growth due to increasing customer preferences for air travel, the emergence of new trends in the market, local special circumstances such as tourism promotion, and underlying macroeconomic factors such as economic stability and growth. This growth is expected to continue in the coming years as Angola further develops its tourism industry and attracts more visitors.

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.