Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
Over the past few years, the Hotels market in Egypt has been experiencing significant growth and development.
Customer preferences: Tourists visiting Egypt are increasingly looking for unique and authentic experiences, leading to a rise in demand for boutique hotels and eco-friendly accommodations. Travelers are also seeking hotels that offer cultural immersion and local experiences, driving the growth of niche boutique hotels that cater to specific interests such as history, art, or gastronomy.
Trends in the market: One notable trend in the Egyptian Hotels market is the increasing popularity of all-inclusive resorts, especially in beach destinations like Sharm El Sheikh and Hurghada. These resorts offer convenience and value for money, attracting budget-conscious travelers and families. Additionally, there is a growing trend towards digitalization in the hotel industry, with hotels investing in technology to enhance the guest experience and streamline operations.
Local special circumstances: Egypt's rich history and diverse cultural heritage make it a unique destination for travelers. The country's iconic landmarks such as the Pyramids of Giza and the temples of Luxor attract millions of tourists each year, creating a high demand for accommodation. The government's efforts to promote tourism through initiatives like the "Egypt - Gift of the Nile" campaign have also contributed to the growth of the Hotels market.
Underlying macroeconomic factors: The stabilization of the Egyptian economy and the government's focus on tourism as a key sector for growth have had a positive impact on the Hotels market. Economic reforms, infrastructure development, and improved security measures have helped attract more visitors to the country, boosting occupancy rates and hotel revenues. Additionally, the devaluation of the Egyptian pound has made Egypt a more affordable destination for international tourists, further driving demand for hotel accommodations.
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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