Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
Over the past few years, the Hotels market in Ethiopia has been experiencing a significant growth trajectory, driven by various factors that have shaped customer preferences, market trends, and local special circumstances.
Customer preferences: In line with global trends, customers in Ethiopia are increasingly seeking unique and authentic experiences when choosing accommodation options. This has led to a rise in demand for boutique hotels and eco-friendly lodgings that offer a more personalized and sustainable stay. Additionally, there is a growing preference for hotels that provide cultural immersion opportunities, allowing guests to engage with the local community and traditions.
Trends in the market: One notable trend in the Ethiopian Hotels market is the expansion of international hotel chains into the country. This influx of global brands not only elevates the overall quality and standards of accommodation but also caters to the preferences of international travelers familiar with these brands. Moreover, the rise of digital platforms and online booking services has made it easier for both domestic and international tourists to discover and book hotels in Ethiopia, contributing to the market's growth.
Local special circumstances: Ethiopia's unique cultural and natural attractions play a significant role in shaping the Hotels market. The country's rich history, diverse landscapes, and vibrant festivals attract a wide range of tourists, creating opportunities for hotels to cater to different interests and preferences. Additionally, the government's efforts to promote tourism through initiatives such as the Ethiopian Tourism Transformation Council have helped boost the hospitality sector and attract investment in hotel infrastructure.
Underlying macroeconomic factors: The Hotels market in Ethiopia is also influenced by macroeconomic factors such as economic growth, political stability, and infrastructure development. The country's steady economic growth and increasing disposable income levels have contributed to a rise in domestic tourism, driving demand for a variety of accommodation options. Furthermore, ongoing investments in infrastructure, including airport expansions and road developments, have enhanced accessibility to key tourist destinations, supporting the growth of the Hotels 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.
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