Hotels - Sweden

  • Sweden
  • Sweden is expected to witness significant growth in the Hotels market with revenue projected to reach US$3.12bn by 2024.
  • This revenue is predicted to increase annually at a growth rate of 2.47% resulting in a market volume projection of US$3.44bn by 2028.
  • The Hotels market is expected to witness a rise in the number of users to 6.86m users by 2028.
  • In 2024, the user penetration rate is estimated to be 60.3% which is expected to increase to 62.9% by 2028.
  • The average revenue per user (ARPU) is projected to be US$0.48k.
  • The online sales channel is expected to contribute 90% of total revenue in the Hotels market by 2028.
  • It is interesting to note that United States is projected to generate the highest revenue (US$110,500m in 2024) in the Hotels market in comparison to other countries globally.
  • Sweden's hotel market is seeing a rise in eco-friendly and sustainable accommodations, driven by the country's commitment to environmental preservation.

Key regions: Singapore, Indonesia, India, United States, Europe

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Hotels market in Sweden is experiencing a significant shift in consumer preferences, trends, and local special circumstances that are shaping its development.

Customer preferences:
In Sweden, customers are increasingly seeking unique and personalized experiences when choosing hotels. This trend is driven by the growing popularity of boutique hotels and eco-friendly accommodations. Travelers are placing a higher value on sustainability, design, and local authenticity, influencing their choices in the hotel market.

Trends in the market:
One notable trend in the Swedish hotel market is the rise of digitalization and technology integration. Hotels are investing in smart room features, mobile check-in options, and personalized recommendations based on guest preferences. This trend not only enhances the overall guest experience but also improves operational efficiency for hoteliers. Another trend shaping the Swedish hotel market is the focus on wellness and health-conscious offerings. Many hotels are incorporating spa facilities, fitness centers, and healthy dining options to cater to the wellness-oriented preferences of travelers. This trend aligns with the overall global shift towards holistic well-being in the hospitality industry.

Local special circumstances:
Sweden's unique geographical landscape and abundance of natural beauty play a significant role in shaping the hotel market. Hotels located in picturesque settings such as coastal areas, forests, or lakesides have a competitive advantage in attracting tourists looking to immerse themselves in nature. This has led to a rise in demand for eco-lodges, wilderness retreats, and sustainable accommodations across the country. Furthermore, Sweden's seasonal fluctuations impact the hotel market, with peak tourist seasons during the summer months for outdoor activities and winter months for skiing and winter sports. Hotels in popular tourist destinations must adapt their offerings and marketing strategies to cater to these seasonal variations in demand.

Underlying macroeconomic factors:
The stable economy and high standard of living in Sweden contribute to the growth of the hotel market. Disposable incomes are relatively high, allowing for increased travel and tourism spending. Additionally, government initiatives promoting tourism and sustainable practices further support the development of the hotel industry in Sweden. Overall, the combination of favorable economic conditions, evolving customer preferences, and unique local circumstances is driving innovation and growth in the Swedish hotel market.

Methodology

Data coverage:

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

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.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • User Demographics
  • Global Comparison
  • Hotel Star Rating
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)