Vacation Rentals - Chad

Chad

Highlights

Chad is projected to witness a rise in its Vacation Rentals market revenue, which is estimated to reach US$15.58m by 2024.
Moreover, the market is expected to grow at a steady pace, with an annual growth rate (CAGR 2024-2029) of 2.99%, leading to a projected market volume of US$18.06m by 2029.
The number of users in the Vacation Rentals market is forecasted to reach 703.10k users by 2029.
The current user penetration rate of 2.8% in 2024 is expected to rise to 3.2% by 2029.
The projected average revenue per user (ARPU) is likely to be around US$29.17.
In Chad's Vacation Rentals market, 70% of total revenue is expected to be generated through online sales by 2029.
It is interesting to note that United States is expected to produce the maximum revenue in this market globally, with a projected revenue of US$20bn by 2024.
Despite its vast natural beauty, Chad's Vacation Rentals market is still very underdeveloped and largely untapped by international travelers.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vacation Rentals market in Chad is experiencing significant growth and development.

Customer preferences: Travelers in Chad are increasingly seeking unique and authentic experiences, opting for vacation rentals over traditional hotels. This shift in preference is driven by a desire for more personalized and immersive stays, where visitors can engage with local culture and communities.

Trends in the market: One of the notable trends in the Vacation Rentals market in Chad is the rise of eco-friendly accommodations. Travelers are showing a growing interest in sustainable and environmentally conscious lodging options, leading to an increase in eco-friendly vacation rentals across the country. This trend aligns with global efforts towards responsible tourism and conservation.

Local special circumstances: Chad's diverse landscapes, including the Sahara Desert and the lush Zakouma National Park, present a unique opportunity for vacation rental owners to offer a wide range of experiences to travelers. From desert camps to wildlife lodges, the country's natural beauty and rich cultural heritage contribute to the growing popularity of vacation rentals as an accommodation choice.

Underlying macroeconomic factors: The growing tourism industry in Chad, supported by government initiatives to promote the sector, is a key macroeconomic factor driving the development of the Vacation Rentals market. As more visitors are drawn to the country's attractions, the demand for alternative lodging options continues to rise. Additionally, economic stability and infrastructure improvements play a role in fostering a favorable environment for the growth of vacation rentals in Chad.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of vacation rentals.

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.