Travel & Tourism - Zambia | Statista Market Forecast

The Travel & Tourism market in Zambia is predicted to witness a rise in revenue, with a projection of US$133.70m in 2024.
The market is expected to grow annually at a rate of 9.34% from 2024 to 2029, resulting in a projected market volume of US$209.00m by 2029.
The largest market is the Hotels market, which is expected to reach a market volume of US$52.63m in 2024.
By 2029, the number of users in Hotels is estimated to reach 1.09m users.
The user penetration rate is projected to increase from 5.8% in 2024 to 7.6% in 2029.
The average revenue per user (ARPU) is expected to be US$108.20.
In Zambia's Travel & Tourism market, online sales are projected to account for 64% of the total revenue by 2029.
In terms of global comparison, United States is expected to generate the highest revenue, with a projection of US$214bn in 2024.
Zambia's travel and tourism market is experiencing a rise in eco-tourism, with visitors flocking to explore the country's national parks and wildlife reserves.

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 Zambia is experiencing a notable growth trajectory, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Travelers in Zambia are increasingly seeking unique and authentic experiences that allow them to immerse themselves in the local culture and natural beauty of the country. This shift towards experiential travel has led to a rising demand for sustainable and eco-friendly tourism options, as visitors look to minimize their impact on the environment and support local communities.

Trends in the market: One prominent trend in the Zambian travel market is the growing popularity of adventure tourism activities, such as safaris, river rafting, and bungee jumping. The country's diverse landscape, including the iconic Victoria Falls and abundant wildlife, makes it an attractive destination for adventure seekers and nature enthusiasts. Additionally, the development of luxury lodges and resorts catering to high-end travelers has contributed to the overall growth of the tourism sector.

Local special circumstances: Zambia's strategic location in the heart of Southern Africa, with easy access to other popular destinations like Botswana, Namibia, and Zimbabwe, has positioned it as a key player in the regional tourism market. The country's political stability and commitment to conservation efforts have also enhanced its appeal among international tourists looking for a safe and environmentally conscious travel destination.

Underlying macroeconomic factors: The government's investment in infrastructure development, including improvements to transportation networks and accommodation facilities, has played a crucial role in boosting the tourism sector. Additionally, the promotion of Zambia's rich cultural heritage and natural attractions through targeted marketing campaigns has helped increase awareness and attract a growing number of visitors to the country. Economic factors such as currency exchange rates and income levels both domestically and internationally also influence the affordability and attractiveness of Zambia as a travel destination.

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.