Travel & Tourism - Angola | Statista Market Forecast

In Angola, the Travel & Tourism market is expected to generate a revenue of US$663.10m in 2024.
This revenue is projected to grow annually at a rate of 6.92% (CAGR 2024-2029), resulting in a market volume of US$926.50m by 2029.
The Hotels market is expected to hold the largest share of the market, with a projected market volume of US$323.50m in 2024.
By 2029, the number of users in the Hotels market is expected to reach 7.31m users.
The user penetration rate is projected to increase from 14.6% in 2024 to 18.6% in 2029.
The projected average revenue per user (ARPU) is US$120.20.
In Angola's Travel & Tourism market, 59% of the total revenue is expected to be generated through online sales by 2029.
In terms of global comparison, United States is projected to generate the most revenue in the Travel & Tourism market, with US$214bn in 2024.
Angola's Travel & Tourism industry is on the rise due to recent infrastructure improvements and the country's diverse cultural heritage.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users 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. Users represent the aggregated number of guests. 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 travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

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Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Angola's Travel & Tourism market is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Travelers in Angola are increasingly seeking unique and authentic experiences, moving away from traditional tourist attractions towards more immersive cultural and adventure tourism activities. This shift in preferences is in line with global trends where travelers are looking for personalized and off-the-beaten-path experiences that allow them to connect with local cultures.

Trends in the market: One notable trend in Angola's Travel & Tourism market is the rise of ecotourism and sustainable travel practices. With a growing awareness of environmental issues, travelers are showing a preference for eco-friendly accommodations, responsible tour operators, and conservation-focused experiences. This trend is reshaping the tourism landscape in Angola, with a focus on preserving the country's natural beauty and biodiversity. Another trend shaping the market is the increasing investment in infrastructure and tourism facilities. The Angolan government is actively promoting the development of the tourism sector, leading to the construction of new hotels, resorts, and transportation networks. This expansion is not only catering to the growing number of domestic and international tourists but also improving the overall travel experience in the country.

Local special circumstances: Angola's unique blend of natural attractions, including pristine beaches, diverse wildlife, and rich cultural heritage, sets it apart as a compelling travel destination. The country's vibrant music and dance scene, along with its culinary offerings, further enhance the tourism experience for visitors. These special circumstances contribute to Angola's appeal and play a significant role in attracting tourists from around the world.

Underlying macroeconomic factors: The growth of Angola's Travel & Tourism market is also influenced by macroeconomic factors such as government policies, infrastructure development, and global economic trends. The country's efforts to diversify its economy and reduce dependency on oil revenues have led to a renewed focus on tourism as a key growth sector. Additionally, partnerships with international organizations and initiatives to promote Angola as a tourist destination have helped boost the market's development.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.