Travel & Tourism - Burkina Faso | Statista Market Forecast

The projected revenue for the Travel & Tourism market in Burkina Faso is expected to reach US$108.50m in 2024.
It is estimated that the market will show an annual growth rate (CAGR 2024-2029) of 3.44%, resulting in a projected market volume of US$128.50m by 2029.
The largest market in this market is the Hotels, with a projected market volume of US$51.57m in 2024.
By 2029, the number of users in Hotels is expected to amount to 979.70k users.
Furthermore, user penetration is expected to increase from 5.0% in 2024 to 6.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$90.54 in Burkina Faso.
It is projected that 69% of the total revenue in the Travel & Tourism market in Burkina Faso will be generated through online sales by 2029.
In global comparison, United States is expected to generate the most revenue in this market with US$214bn in 2024.
Burkina Faso's tourism industry is seeing an increase in eco-tourism, with visitors drawn to its national parks and wildlife reserves.

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.)

The Travel & Tourism market in Burkina Faso has been experiencing significant growth in recent years, attracting both domestic and international travelers.

Customer preferences: Travelers in Burkina Faso are increasingly seeking authentic cultural experiences, leading to a rise in demand for tours that showcase the local traditions, music, and crafts. Additionally, there is a growing interest in eco-tourism and sustainable travel practices among tourists visiting the country.

Trends in the market: One notable trend in the Burkina Faso travel market is the increasing popularity of community-based tourism initiatives, where visitors can engage with local communities and support small-scale enterprises. This trend aligns with the global movement towards responsible tourism and immersive travel experiences.

Local special circumstances: Burkina Faso's unique cultural heritage and diverse landscapes, including national parks, waterfalls, and traditional villages, set it apart as a destination with a rich tapestry of offerings for travelers. The country's vibrant festivals and events also attract tourists looking to participate in colorful celebrations.

Underlying macroeconomic factors: The growth of the Travel & Tourism market in Burkina Faso can be attributed to various macroeconomic factors, such as government investment in infrastructure development, improved political stability, and efforts to promote the country as a tourist destination. Additionally, partnerships with international organizations and neighboring countries have helped boost the tourism sector and drive visitor numbers.

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.