Hotels - Bolivia | Statista Market Forecast

By 2024, the Hotels market in Bolivia is projected to reach a revenue of US$96.59m.
Furthermore, it is expected to experience an annual growth rate of 5.50%, resulting in a projected market volume of US$126.20m by 2029.
In terms of the number of users, the Hotels market is expected to have 1.43m users users by 2029.
User penetration is projected to increase from 7.1% in 2024 to 10.7% by 2029.
The average revenue per user (ARPU) is expected to be US$108.30.
Online sales are projected to generate 72% of the total revenue in the Hotels market by 2029.
It is worth noting that in comparison to other countries, United States is expected to generate the most revenue (US$111bn in 2024).
Bolivia's hotel market is growing steadily, with a focus on eco-tourism and cultural experiences.

Definition:

The Hotels market includes hotels and professionally-run guest houses. These accommodations can be booked directly via the providers website, through a tour operator, a travel agency, an online travel agency (OTA), or by telephone.

Additional Information:

The main performance indicators of the Hotels 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. Users represent the aggregated number of guests. Each user is only counted once per year. Well-known providers are Hotels.com, trivago, and Booking.com.

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.

For further information on the data displayed, refer to the info button right next to each box.

Booked directly via the providers website, through a tour operator, an online travel agency (OTA), a travel agency or by telephone

Private accommodation and holiday flats, private room and accommodation rentals (e.g. Airbnb)

The Hotels market in Bolivia is experiencing significant growth and development.

Customer preferences: Tourists and travelers in Bolivia are increasingly seeking unique and authentic experiences, leading to a rise in demand for boutique and eco-friendly hotels. This shift in preferences is driven by a desire for sustainable travel practices and a deeper connection to the local culture and environment.

Trends in the market: One notable trend in the Bolivian Hotels market is the increasing popularity of community-based tourism initiatives, where visitors can stay in locally-owned accommodations and participate in cultural exchange programs. This trend not only benefits the local communities by providing economic opportunities but also offers travelers a more immersive and authentic experience.

Local special circumstances: Bolivia's diverse geography and rich cultural heritage make it a unique destination for travelers. The country's stunning landscapes, including the Andes mountains and the Amazon rainforest, attract nature enthusiasts and adventure seekers. Additionally, Bolivia's vibrant indigenous culture and colorful traditions contribute to the overall appeal of the destination.

Underlying macroeconomic factors: The growth of the Hotels market in Bolivia is also influenced by macroeconomic factors such as government initiatives to promote tourism, infrastructure development, and increasing foreign investment. As the country continues to invest in its tourism sector and improve accessibility to key attractions, the Hotels market is expected to further expand to meet the growing demand from both domestic and international travelers.

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.

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