Travel & Tourism - Republic of the Congo

The projected revenue for the Travel & Tourism market in the Republic of the Congo is estimated to reach US$30.53m by 2024.
This is expected to show a 4.57% annual growth rate (CAGR 2024-2029), resulting in a projected market volume of US$38.17m by 2029.
It is worth noting that the largest market in this market is the Package Holidays, which is expected to have a projected market volume of US$16.24m by 2024.
Furthermore, the number of users in Package Holidays is expected to amount to 214.50k users by 2029, with a user penetration rate of 3.5% in 2024, which is expected to increase to 4.6% by 2029.
The average revenue per user (ARPU) is projected to be US$140.20.
Additionally, in the Travel & Tourism market in the Republic of the Congo, 50% of total revenue will be generated through online sales by 2029.
It is interesting to note that in global comparison, United States is expected to generate the most revenue in the Travel & Tourism market, with an estimated revenue of US$214bn in 2024.
The Republic of Congo's ecotourism sector is rapidly growing, with travelers visiting the country's national parks and wildlife reserves for a unique African experience.

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.

For further information on the data displayed, refer to the info button right next to each box.

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.)

The Travel & Tourism market in Republic of the Congo is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Travelers in Republic of the Congo are increasingly seeking unique and authentic experiences, driving the demand for ecotourism and cultural tourism. Tourists are drawn to the country's rich biodiversity, national parks, and cultural heritage, leading to a rise in nature-based and cultural tourism activities. Additionally, there is a growing interest in sustainable travel practices among visitors, influencing their choice of accommodations and tour operators.

Trends in the market: One notable trend in the Republic of the Congo's Travel & Tourism market is the emphasis on luxury and high-end tourism offerings. The country is witnessing an increase in upscale resorts, boutique hotels, and luxury safari experiences catering to affluent travelers seeking exclusivity and personalized services. Moreover, the rise of experiential travel is shaping the market, with a focus on immersive activities such as wildlife tracking, community-based tourism, and cultural exchanges.

Local special circumstances: Republic of the Congo's unique natural attractions, including lush rainforests, rare wildlife species, and pristine rivers, set it apart as a desirable travel destination. The country's ecotourism potential and conservation efforts contribute to its appeal among nature enthusiasts and adventure seekers. Furthermore, the presence of indigenous communities and traditional practices adds a cultural authenticity that appeals to travelers looking for meaningful and enriching experiences.

Underlying macroeconomic factors: The Travel & Tourism market in Republic of the Congo is influenced by macroeconomic factors such as government initiatives to promote the sector, infrastructural developments, and political stability. Investments in tourism infrastructure, including transportation networks, accommodation facilities, and tourist services, play a crucial role in attracting visitors and supporting the industry's growth. Additionally, political stability and safety are essential for building traveler confidence and fostering a favorable tourism environment in the country.

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.