Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
The Hotels market in South Africa is experiencing a significant growth trajectory driven by various factors.
Customer preferences: Customers in South Africa are increasingly seeking unique and authentic experiences when it comes to accommodation. This has led to a rise in demand for boutique hotels, eco-friendly lodges, and properties that offer cultural immersion. Travelers are also showing a preference for hotels that prioritize sustainability and local community engagement.
Trends in the market: One notable trend in the South African Hotels market is the increasing popularity of luxury safari lodges, especially in regions known for wildlife reserves such as Kruger National Park. These lodges offer high-end amenities and exclusive wildlife viewing experiences, attracting luxury travelers from around the globe. Additionally, the rise of digital platforms and online booking services has made it easier for hotels in South Africa to reach a wider audience and attract international guests.
Local special circumstances: South Africa's diverse landscape and rich cultural heritage provide a unique backdrop for the Hotels market. The country's reputation for world-class wine regions, stunning beaches, and vibrant cities like Cape Town and Johannesburg make it a desirable destination for both domestic and international tourists. Additionally, the growing focus on sustainable tourism in South Africa has prompted many hotels to implement green practices and support local conservation efforts.
Underlying macroeconomic factors: The Hotels market in South Africa is also influenced by macroeconomic factors such as currency exchange rates, political stability, and global economic trends. Fluctuations in the South African Rand can impact tourism flows and affect hotel revenues. Political stability and safety concerns play a crucial role in attracting foreign visitors, while economic conditions in key source markets can influence travel patterns to South Africa.
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)
