Hotels - Morocco | Statista Market Forecast

Hotels - Morocco

Morocco

Highlights

Morocco's Hotels market is anticipated to earn revenue of US$776.70m by 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of 4.36%, leading to an estimated market volume of US$961.40m by 2029.
The number of users in the Hotels market is expected to reach 5.45m users by 2029.
The user penetration is expected to increase from 11.9% in 2024 to 13.7% by 2029.
The average revenue per user (ARPU) is expected to be US$171.00.
By 2029, 85% of the total revenue in the Hotels market will be generated through online sales.
In comparison to other countries, United States is expected to generate the most revenue, with US$111bn in 2024.
Morocco's hotel market is seeing a shift towards sustainable and eco-friendly accommodations to cater to the growing demand from environmentally conscious travelers.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hotels market in Morocco has been experiencing a notable growth trajectory in recent years, reflecting the country's increasing popularity as a tourist destination.

Customer preferences: Travelers visiting Morocco are showing a growing preference for unique and authentic experiences, driving demand for boutique hotels and riads that offer a more personalized and culturally immersive stay. Additionally, there is a rising interest in eco-friendly and sustainable accommodation options among environmentally conscious tourists.

Trends in the market: One of the prominent trends in the Moroccan Hotels market is the expansion of international hotel chains into the country, catering to the needs of luxury travelers and business visitors. This trend not only elevates the overall standard of accommodation but also contributes to the diversification of offerings in the market. Moreover, the growing popularity of online booking platforms has made it easier for travelers to discover and book a wide range of hotels across different price points, further fueling competition and innovation in the sector.

Local special circumstances: Morocco's unique blend of rich cultural heritage, stunning landscapes, and diverse attractions positions it as a compelling destination for a wide range of travelers. The country's strategic location at the crossroads of Africa, Europe, and the Middle East also plays a significant role in attracting visitors from various regions. Furthermore, Morocco's government initiatives to promote tourism and improve infrastructure have been instrumental in driving the growth of the Hotels market.

Underlying macroeconomic factors: The stable economic growth and increasing disposable income levels in Morocco have boosted domestic travel as well as inbound tourism, creating a favorable environment for the Hotels market to thrive. Additionally, the government's efforts to enhance safety and security measures in tourist areas have helped build confidence among travelers, leading to a steady influx of tourists into the country. Overall, the combination of favorable macroeconomic conditions and proactive tourism policies bodes well for the continued development of the Hotels market in Morocco.

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.