Key regions: Singapore, Indonesia, India, United States, Europe
Jordan's Hotels market is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.
Customer preferences: Travelers in Jordan are increasingly seeking unique and authentic experiences, leading to a rise in demand for boutique hotels and eco-friendly accommodations. Customers are also placing a higher emphasis on personalized services, wellness facilities, and convenient amenities in their hotel choices.
Trends in the market: The Hotels market in Jordan is witnessing a trend towards sustainable practices and green initiatives, aligning with global efforts towards environmental conservation. Additionally, the rise of online booking platforms and technology integration is reshaping the way hotels attract and engage with customers in the country.
Local special circumstances: Jordan's strategic location as a gateway to the Middle East region and its rich cultural heritage are driving factors attracting both leisure and business travelers to the country. The presence of popular tourist destinations such as Petra and the Dead Sea further boosts the demand for hotel accommodations in key locations.
Underlying macroeconomic factors: The stability of Jordan's economy and government initiatives to promote tourism are contributing to the growth of the Hotels market in the country. Additionally, investments in infrastructure development and improvements in transportation networks are making Jordan a more accessible and appealing destination for travelers, further fueling the expansion of the hotel industry.
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.
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