Hotels - Chad | Statista Market Forecast

By 2024, the Hotels market in Chad is projected to achieve a revenue of US$35.72m.
According to reports, the revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 3.00%, resulting in a projected market size of US$41.41m by 2029.
Moreover, in the same market, the expected number of users is 498.70k users by 2029.
The user penetration, which is 2.0% in 2024, is also expected to increase to 2.3% by 2029.
The average revenue per user (ARPU) is projected to be US$92.63.
Additionally, in the Hotels market industry, 74% of the total revenue is predicted to come from online sales by 2029.
It is noteworthy that United States will generate the largest revenue in comparison to other countries, with an expected revenue of US$111bn in 2024.
Despite challenges such as limited infrastructure and political instability, Chad's hotel industry is slowly growing due to increased foreign investment.

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 Chad is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Customers in Chad are increasingly seeking unique and authentic experiences when choosing hotels, favoring establishments that offer cultural immersion and local charm. This trend aligns with the global shift towards experiential travel, where tourists seek to engage with the destination's culture and community.

Trends in the market: In Chad, there is a noticeable trend towards eco-friendly and sustainable practices in the hotel industry. Travelers are becoming more environmentally conscious, leading to a rise in demand for hotels that prioritize sustainability in their operations. This trend is in line with the growing global awareness of climate change and the importance of responsible tourism practices.

Local special circumstances: Chad's unique geographical landscape and rich cultural heritage present opportunities for the hotel market to cater to adventure-seeking tourists and history enthusiasts. Hotels that offer excursions to national parks, cultural sites, and traditional villages are gaining popularity among visitors looking to explore the country's diverse attractions.

Underlying macroeconomic factors: The Hotels market in Chad is also influenced by macroeconomic factors such as government policies, infrastructure development, and economic stability. Investments in infrastructure, such as transportation networks and utilities, play a crucial role in supporting the growth of the hotel industry by improving accessibility and overall tourism experience. Additionally, political stability and security are essential for attracting foreign investment and promoting tourism growth in the country.

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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