Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
Madagascar's Hotels market is experiencing a significant growth trajectory, driven by a combination of factors that are shaping the industry in the country.
Customer preferences: Tourists visiting Madagascar are increasingly seeking unique and authentic experiences, driving demand for boutique hotels and eco-friendly accommodations. This shift in preferences is pushing hotels to offer more sustainable practices and immersive cultural experiences to attract and retain guests.
Trends in the market: One notable trend in the Hotels market in Madagascar is the rise of luxury eco-resorts in remote locations, offering guests a chance to connect with nature while enjoying high-end amenities. This trend caters to the growing segment of travelers looking for exclusive and sustainable lodging options in exotic destinations like Madagascar.
Local special circumstances: Madagascar's rich biodiversity and natural landscapes present a unique opportunity for hotels to differentiate themselves in the market. Hotels that highlight the country's unique flora and fauna, as well as its vibrant local culture, are gaining popularity among tourists seeking a truly authentic experience.
Underlying macroeconomic factors: The growth of the Hotels market in Madagascar is also influenced by macroeconomic factors such as government initiatives to promote tourism and infrastructure development. Investments in transportation networks and promotion of the country as a tourist destination are driving more visitors to Madagascar, boosting the hospitality sector in the process. Additionally, the stability of the political environment and favorable exchange rates are contributing to the overall growth of the Hotels market 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
