Travel & Tourism - Lebanon | Statista Market Forecast

Lebanon's Travel & Tourism market is expected to generate a revenue of US$570.10m in 2024, with an annual growth rate of 4.37%, projecting a market volume of US$706.10m by 2029.
The market's leading market is the Package Holidays market, which is expected to reach a market volume of US$393.40m by 2024, with an estimated number of users amounting to 779.80k users by 2029.
In 2024, the user penetration rate is projected to be 27.6%, and it is expected to reach 30.2% by 2029.
The average revenue per user (ARPU) is expected to remain at US$395.60.
By 2029, online sales are likely to account for 86% of the total revenue generated by the Travel & Tourism market in Lebanon.
In terms of global comparison, United States is expected to generate the highest revenue of US$214bn in 2024.
Lebanon's travel and tourism industry is experiencing a revival as the country's rich history, diverse culture, and beautiful landscapes attract more visitors.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

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Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Lebanon, known for its rich history, diverse culture, and stunning landscapes, has been a popular destination for travelers seeking a unique experience in the Middle East.

Customer preferences: Travelers visiting Lebanon are increasingly seeking authentic cultural experiences, including exploring historical sites, tasting local cuisine, and engaging with the vibrant arts scene. The demand for personalized and immersive travel experiences has been on the rise, with tourists looking to connect with the local community and environment.

Trends in the market: One notable trend in the Travel & Tourism market in Lebanon is the growing interest in ecotourism and sustainable travel practices. Travelers are becoming more conscious of their environmental impact and are actively seeking eco-friendly accommodation, transportation, and tour options. This shift towards sustainability is driving the development of green initiatives and responsible tourism practices in the country.

Local special circumstances: Lebanon's unique geographical location, nestled between the Mediterranean Sea and the mountains, offers a diverse range of activities for travelers. From relaxing on beautiful beaches to skiing in the mountains, visitors to Lebanon can experience a wide variety of landscapes and climates within a relatively small area. This diversity appeals to tourists looking for a destination that offers both relaxation and adventure.

Underlying macroeconomic factors: Despite facing challenges such as political instability and economic uncertainty, Lebanon's Travel & Tourism market continues to show resilience and potential for growth. The country's strategic location, rich cultural heritage, and hospitable population provide a strong foundation for the tourism industry. Additionally, government initiatives to promote tourism and improve infrastructure are helping to attract more visitors and boost the sector's contribution to the economy.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.