Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
Over the past few years, the Hotels market in Tunisia has shown significant growth and development.
Customer preferences: In Tunisia, customers are increasingly looking for unique and authentic experiences when choosing hotels. They prefer boutique hotels or traditional riads that offer a more personalized touch and a glimpse into the local culture. Additionally, there is a growing demand for eco-friendly and sustainable practices in hotels, reflecting a global trend towards responsible tourism.
Trends in the market: One noticeable trend in the Tunisian Hotels market is the rise of digital platforms and online booking services. Many hotels are now focusing on enhancing their online presence and offering seamless booking experiences to attract tech-savvy customers. Another trend is the renovation and rebranding of older hotels to meet modern standards and cater to changing customer preferences.
Local special circumstances: Tunisia's unique geographical location as a gateway between Europe and Africa plays a significant role in shaping its Hotels market. The country's beautiful Mediterranean beaches and rich history make it a popular tourist destination, attracting visitors from diverse backgrounds. This diversity influences the types of hotels available, with a range of options from luxury resorts to budget-friendly accommodations.
Underlying macroeconomic factors: The stability and growth of Tunisia's economy have a direct impact on the Hotels market. Political stability and government initiatives to promote tourism contribute to the overall development of the sector. Additionally, fluctuations in currency exchange rates and global economic conditions can influence the affordability of travel to Tunisia, affecting the demand for hotels 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.
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