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Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
The Hotels market in Pakistan has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Pakistan are increasingly seeking unique and personalized experiences when choosing hotels. They are looking for accommodations that offer not only comfort and convenience but also cultural authenticity and local charm. This shift in preferences has led to a rise in boutique hotels and eco-friendly resorts that cater to the demand for more experiential stays.
Trends in the market: One notable trend in the Pakistani hotel market is the increasing investment in luxury and high-end hotels, particularly in major cities and tourist destinations. This trend is driven by the growing number of affluent travelers both domestically and internationally, who are willing to pay for premium services and amenities. Additionally, the rise of online booking platforms has made it easier for hotels to reach a wider audience and attract more guests.
Local special circumstances: Pakistan's diverse landscape and rich cultural heritage offer a unique opportunity for the hotel industry to capitalize on tourism. From the bustling streets of Karachi to the serene valleys of Gilgit-Baltistan, each region presents a different experience for travelers. Hotels in Pakistan have the advantage of showcasing this diversity and attracting guests looking for authentic and immersive travel experiences.
Underlying macroeconomic factors: The improving security situation in Pakistan has played a significant role in boosting the hotel market. With a more stable environment, the country has seen an increase in both domestic and international tourism, leading to higher demand for accommodations. Additionally, government initiatives to promote tourism and investment in infrastructure have further supported the growth of the hotel industry. As the economy continues to strengthen and consumer confidence grows, the Hotels market in Pakistan is expected to expand even further in the coming years.
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)