Key regions: Singapore, Indonesia, India, United States, Europe
The Hotels market in Qatar is experiencing significant growth and development, driven by various factors shaping the industry in the region.
Customer preferences: Travelers in Qatar are showing a growing preference for luxury and high-end hotel experiences, with a focus on personalized services and unique amenities. This trend is in line with the overall global shift towards experiential travel and the increasing demand for premium accommodation options.
Trends in the market: One notable trend in the Hotels market in Qatar is the expansion of international hotel chains in the country. This trend is fueled by the growing number of tourists visiting Qatar for both leisure and business purposes, leading to an increased demand for diverse accommodation options. Additionally, there is a noticeable rise in the development of boutique hotels and eco-friendly resorts, catering to the preferences of environmentally conscious travelers.
Local special circumstances: Qatar's strategic location as a hub for business and tourism in the Middle East plays a crucial role in shaping the Hotels market in the country. The upcoming FIFA World Cup in 2022 has also been a significant driver of growth, leading to extensive infrastructure development and an influx of visitors. Moreover, the government's initiatives to promote tourism and hospitality sectors are creating favorable conditions for the expansion of the Hotels market in Qatar.
Underlying macroeconomic factors: The strong economic growth and stability in Qatar, supported by the country's robust infrastructure and investment in tourism-related projects, are key macroeconomic factors driving the development of the Hotels market. Additionally, the government's efforts to diversify the economy and reduce dependency on oil revenues are attracting investments in the hospitality sector, further fueling the growth of the market.
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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