Hotels - Burkina Faso | Statista Market Forecast

By 2024, it is projected that the Hotels market in Burkina Faso will generate a revenue of US$51.57m.
Looking ahead, this revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.29%, resulting in a projected market volume of US$60.63m by 2029.
The number of users in this market is expected to reach 783.70k users by 2029, with a user penetration of 2.4% in 2024 that is expected to increase to 2.9% by 2029.
The average revenue per user (ARPU) is expected to be US$90.12.
In terms of revenue generation, it is predicted that 67% of the total revenue in the Hotels market will be generated through online sales by 2029.
It is worth noting that in comparison to other countries, United States is expected to generate the most revenue in this market, with a projected revenue of US$111bn in 2024.
Despite facing challenges in infrastructure and political stability, Burkina Faso's hotel market is showing potential for growth in the coming years.

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 Burkina Faso is experiencing significant growth and development, driven by various factors shaping consumer preferences and market trends.

Customer preferences: Travelers in Burkina Faso are increasingly looking for unique and authentic experiences, leading to a rising demand for boutique hotels and eco-friendly accommodations. Customers value personalized services, cultural immersion, and sustainable practices in their choice of hotels.

Trends in the market: One prominent trend in the Burkina Faso hotel market is the expansion of international hotel chains into the country, catering to the growing number of business travelers and tourists. These chains bring with them globally recognized standards and amenities, appealing to customers seeking familiarity and consistency in their accommodation choices.

Local special circumstances: The hospitality industry in Burkina Faso is also influenced by the country's rich cultural heritage and traditional hospitality customs. Many hotels incorporate local design elements, artwork, and cuisine to provide guests with an authentic Burkinabe experience. This localization strategy sets hotels in Burkina Faso apart from international chains and resonates well with customers looking to immerse themselves in the local culture.

Underlying macroeconomic factors: The growth of the Hotels market in Burkina Faso is supported by improving economic conditions and infrastructure development in the country. As Burkina Faso attracts more foreign investment and experiences economic growth, there is a corresponding increase in business travel and tourism, driving up the demand for quality accommodation options. Additionally, government initiatives to promote the tourism sector and enhance the country's attractiveness as a travel destination contribute to the positive outlook for the Hotels market in Burkina Faso.

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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