Travel & Tourism - Togo
Togo- Revenue in the Travel & Tourism market is projected to reach US$*****m in ****.
- Revenue is expected to show an annual growth rate (CAGR *********) of ****%, resulting in a projected market volume of US$******m by ****.
- The largest Travel & Tourism market is the Hotels market with a projected market volume of US$*****m in ****.
- In the Hotels market, the number of users is expected to amount to ****m users by ****.
- The average revenue per user (ARPU) is expected to amount to US$*****.
- 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 leisure and business travelers. It includes hotel establishments, vacation rentals, and camping grounds. The data shown across these three market segments specifically focuses on inbound tourists, namely non-resident visitors arriving in the economy of reference from abroad.
Structure:
The Travel & Tourism market consists of three main segments:
- Hotels: this market segment shows data for hotels, motels, and similar accommodation establishments.
- Vacation Rentals: this market segment focuses on short-term rental accommodation services, such as holiday homes and apartments listed on platforms like Airbnb, Booking.com, or Expedia.
- Camping: this market segment provides figures on camping grounds, recreational vehicle parks, and trailer parks.
Additional Information:
The main performance indicators of the Travel & Tourism market are revenue, users, and average revenue per user (ARPU). In the context of the Travel & Tourism market, the user indicator specifically refers to inbound tourist arrivals in accommodation services. Revenue shows the total expenditure of international tourists on each of the considered accommodation segments, while ARPU indicates the average revenue per inbound tourist arrival. All data related to these three indicators refers to international tourists, namely visitors coming from abroad who stayed for at least one night in an accommodation establishment.
Leading players in the Travel & Tourism market include online travel agencies (OTAs) like Booking Holdings, Expedia Group, Airbnb, and Trip.com, as well as travel agencies and tour operators such as TUI AG, Jet2 plc, and Flight Centre Travel Group.
For further information on the data displayed, refer to the info button right next to each box.
- Inbound tourism arrivals and inbound tourism spending (i.e., visitor exports) on accommodation services by leisure and business tourists
- Domestic and outbound tourism activities
- Same-day travelers/excursionists (i.e., travelers who did not stay overnight)
Revenue
Sales Channels
Analyst Opinion
The global travel and tourism sector has undergone profound changes over the last few decades. The rise of the online travel market in the late 1990s completely revolutionized the way people planned, booked, and experienced travel, leading to the development of big online travel groups, like Booking Holdings, Expedia Group, and Trip.com. While platforms like Airbnb and Vrbo gave a significant boost to the short-term rental market, consumer reviews and price-comparison tools, offered by websites like Tripadvisor, Kayak, and Skyscanner, played an important role in influencing travel bookings. Today, after the recovery following the shock of the coronavirus pandemic, the travel and tourism sector is undergoing a new transformative phase, led by the implementation of artificial intelligence (AI).
Aside from the impact of AI tools on travel planning and bookings, experiential travel represents one of the most recent trends for the sector. With travelers’ growing interest in having memorable experiences while visiting a destination, companies specialized in tours, activities, and attractions like GetYourGuide, Viator, and Klook are gaining momentum. Meanwhile, concepts like bleisure travel (trips combining travel for both business and leisure purposes) and coolcations (trips to cold locations to escape the summer heatwaves) are becoming more popular.
Looking at international tourism, Europe is the most visited global region by inbound travelers, with France, Spain, Turkey, and Italy regularly ranking among the countries with the most arrivals worldwide. That said, the United States and China dominate in terms of visitor spending. While international tourism in the Middle East is expected to grow considerably in the next decade, geopolitical tensions in the region have impacted this growth trajectory in the short term.
Users
Travel Behavior
Global Comparison
Methodology
Data coverage:
Figures refer to international tourism arrivals and international tourism spending at hotels, vacation rentals, and camping grounds. Data includes leisure and business travelers.Modeling approach:
The Travel & Tourism market is modeled based on a hybrid approach. For the user indicator, figures are derived from inbound tourism arrivals data by UN Tourism, Eurostat, national statistics offices, and national tourist boards, as well as third-party studies and reports exploring key performance indicators across different types of accommodation services. Meanwhile, revenue is estimated based on figures on visitor exports by the World Travel and Tourism Council (WTTC) and inbound tourism consumption data from available Tourism Satellite Accounts (TSA). Average revenue per user is then calculated from the user and revenue indicators.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of the forecasting techniques is based on the behavior of the relevant market. For example, a k-means cluster analysis allows for the estimation of similar countries. Additionally, a compound annual growth rate (CAGR) forecast is applied. The main drivers are visitor exports and inbound tourism arrivals data by WTTC.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year should market dynamics change. The impact of the U.S.-Israel war with Iran is considered at a country-specific level.Mobility
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