Travel & Tourism - Mozambique

Mozambique

Mozambique is expected to witness a significant upsurge in its revenue from the Travel & Tourism market, which is estimated to reach US$267.60m by 2024.
The market's revenue is further projected to grow annually at a rate of 7.71% from 2024 to 2029, resulting in a market volume of US$387.90m by 2029.
It is noteworthy that the largest market in Mozambique is the Hotels market, which is expected to generate a revenue of US$119.30m by 2024.
The projected number of users in the Hotels market is estimated to reach 2,559.00k users by 2029.
In 2024, the user penetration in Mozambique's Travel & Tourism market is expected to be 8.1%, which is expected to increase to 10.8% by 2029.
The average revenue per user (ARPU) is expected to be US$94.28.
Furthermore, it is projected that 73% of the total revenue will be generated through online sales by 2029.
It is pertinent to note that in the global comparison, United States is expected to generate the most revenue in the Travel & Tourism market industry, with a projected revenue of US$214bn in 2024.
Mozambique's Travel & Tourism industry is experiencing growth due to its stunning beaches, wildlife reserves, and cultural heritage sites.

Key regions: Malaysia, Europe, Singapore, Vietnam, United States

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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Region

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Analyst Opinion

Over the past few years, Mozambique has seen a significant growth in its Travel & Tourism market.

Customer preferences: Tourists visiting Mozambique are increasingly seeking unique and authentic experiences, driving the demand for ecotourism and adventure activities. The country's stunning natural landscapes, including pristine beaches and national parks, are attracting travelers looking to explore off-the-beaten-path destinations.

Trends in the market: One notable trend in the Mozambican Travel & Tourism market is the rise of sustainable tourism practices. With growing global awareness of environmental issues, tourists are increasingly choosing destinations that prioritize eco-friendly initiatives. In response, many hotels, lodges, and tour operators in Mozambique are implementing sustainable practices to appeal to conscientious travelers.

Local special circumstances: Mozambique's unique cultural heritage and diverse ethnic groups contribute to its appeal as a travel destination. Tourists are drawn to the country's vibrant music, dance, and art scenes, offering them a rich cultural experience. Additionally, Mozambique's history of Portuguese colonial influence adds an intriguing layer to its tourism offerings, attracting history enthusiasts.

Underlying macroeconomic factors: The development of infrastructure, such as improved road networks and expanded air travel connections, has played a crucial role in driving the growth of Mozambique's Travel & Tourism market. These infrastructure investments have made it easier for tourists to access different regions of the country, boosting overall visitor numbers. Additionally, government initiatives to promote tourism and attract foreign investment have created a favorable environment for the industry to flourish.

Methodology

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.