Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
The Hotels market in Mozambique is experiencing a significant growth trajectory driven by various factors.
Customer preferences: Travelers in Mozambique are increasingly seeking unique and authentic experiences, leading to a rise in demand for boutique hotels and eco-friendly accommodations. Tourists are also showing a preference for hotels that offer cultural immersion and opportunities to engage with local communities.
Trends in the market: One notable trend in the Mozambican Hotels market is the expansion of international hotel chains into the country, catering to the growing number of business travelers and tourists. Additionally, there is a rising trend of luxury resorts and lodges being developed in key tourist destinations, attracting high-end travelers looking for upscale experiences.
Local special circumstances: Mozambique's stunning coastline and rich cultural heritage make it a desirable tourist destination, driving the growth of the Hotels market. The country's natural beauty, including pristine beaches and diverse wildlife, has positioned it as a top choice for travelers seeking a unique and off-the-beaten-path experience.
Underlying macroeconomic factors: The improving infrastructure in Mozambique, including better road networks and increased flight connections, has made the country more accessible to international visitors. Additionally, government initiatives to promote tourism and foreign investment have boosted the hospitality sector, attracting both domestic and international hotel chains to expand their presence in the 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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