Hotels - Angola | Statista Market Forecast

Hotels - Angola

Angola

Highlights

Angola is expected to see a significant increase in revenue for the Hotels market, with a projected revenue of US$323.50m in 2024.
The market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 7.42%, resulting in a projected market volume of US$462.60m by 2029.
It is expected that the number of users in the Hotels market will reach 3.87m users by 2029, with a user penetration rate of 6.9% in 2024 and a projected rate of 8.9% by 2029.
The average revenue per user (ARPU) is expected to be US$123.90.
Online sales are projected to generate 62% of total revenue in the Hotels market by 2029.
It is noteworthy that United States leads in generating the most revenue, with a projected revenue of US$111bn in 2024, in comparison to other countries globally.
Angola's hotel industry is growing rapidly, with major international brands entering the market and new luxury properties being developed.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hotels market in Angola is experiencing a significant transformation driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Customers in Angola are increasingly seeking unique and authentic experiences when choosing accommodation options. This shift in preferences has led to a rise in demand for boutique hotels and eco-friendly lodgings that offer personalized services and a closer connection to the local culture. Additionally, there is a growing interest in luxury hotels that provide high-end amenities and exclusive experiences to cater to the affluent segment of travelers.

Trends in the market: One notable trend in the Angolan Hotels market is the expansion of international hotel chains into the country. These global brands bring with them standardized services and quality assurance, appealing to both business and leisure travelers looking for reliability and consistency in their accommodation choices. Another trend is the development of integrated hotel and entertainment complexes, offering guests a comprehensive experience that includes shopping, dining, and leisure activities all in one location.

Local special circumstances: The Hotels market in Angola is also influenced by the country's rich natural beauty and diverse tourism offerings. With attractions such as stunning beaches, national parks, and vibrant cultural heritage, there is a growing demand for hotels that provide easy access to these unique experiences. This has led to the development of hotels in strategic locations that offer panoramic views and proximity to key tourist sites.

Underlying macroeconomic factors: The growth of the Hotels market in Angola is closely tied to the overall economic development and stability of the country. As Angola continues to diversify its economy and attract foreign investment, there is a positive impact on the tourism sector, driving increased demand for accommodation options. Additionally, government initiatives to promote tourism and improve infrastructure play a crucial role in shaping the hospitality industry landscape, creating opportunities for both domestic and international hoteliers to expand their presence in the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels.

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.