Key regions: Malaysia, Europe, Singapore, Vietnam, United States
The Travel & Tourism market in Tanzania is experiencing significant growth and development.
Customer preferences: Tourists visiting Tanzania are increasingly seeking unique and authentic experiences, driving the demand for eco-tourism and cultural tourism. Travelers are drawn to Tanzania's diverse wildlife, stunning landscapes, and rich cultural heritage, leading to a rise in experiential travel activities such as safari tours, mountain climbing, and cultural immersions.
Trends in the market: One notable trend in the Tanzanian travel market is the growing popularity of sustainable tourism practices. With an increased global focus on environmental conservation and responsible travel, Tanzania has seen a rise in eco-friendly lodges, wildlife conservation projects, and community-based tourism initiatives. Additionally, the country's efforts to improve infrastructure and promote tourism outside of traditional hotspots like Zanzibar and Serengeti have contributed to a more diversified tourism landscape.
Local special circumstances: Tanzania's unique selling points, such as being home to the majestic Mount Kilimanjaro, the Serengeti National Park, and the idyllic islands of Zanzibar, set it apart as a prime tourist destination in East Africa. The country's rich cultural tapestry, including over 120 ethnic groups, offers visitors a chance to engage with diverse traditions and customs. Moreover, Tanzania's stable political environment and commitment to wildlife conservation make it an attractive and safe destination for travelers.
Underlying macroeconomic factors: The Tanzanian government's focus on promoting the travel and tourism sector as a key driver of economic growth has led to investments in infrastructure development, marketing campaigns, and policy reforms to attract more tourists. The country's strategic location in East Africa, with easy access to regional markets and international air travel hubs, further enhances its position as a competitive tourism destination. Additionally, the growth of the middle class in emerging markets has increased disposable income and fueled outbound travel to destinations like Tanzania.
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.
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