Key regions: Singapore, Indonesia, India, United States, Europe
The Hotels market in United Arab Emirates is experiencing significant growth and development.
Customer preferences: Customers in the United Arab Emirates are increasingly seeking unique and luxurious experiences when choosing hotels. They are looking for properties that offer high-end amenities, personalized services, and innovative designs. Additionally, there is a growing demand for sustainable and eco-friendly practices in the hospitality industry.
Trends in the market: One of the key trends in the Hotels market in the United Arab Emirates is the rise of boutique and lifestyle hotels. These properties cater to the preferences of modern travelers who value individuality and style. Another trend is the integration of technology in hotel operations, from online booking platforms to smart room features, enhancing the overall guest experience.
Local special circumstances: The United Arab Emirates is known for its world-class tourism infrastructure and attractions, making it a popular destination for both leisure and business travelers. The country's strategic location, excellent connectivity, and diverse cultural offerings contribute to its attractiveness as a hotel market. Additionally, the UAE government's focus on promoting tourism and hosting international events further drives the growth of the Hotels market.
Underlying macroeconomic factors: The Hotels market in the United Arab Emirates is influenced by various macroeconomic factors, including fluctuations in oil prices, currency exchange rates, and global economic conditions. The country's efforts to diversify its economy and reduce dependence on oil revenue have led to investments in tourism and hospitality, supporting the growth of the Hotels market. Additionally, government initiatives to improve ease of doing business and attract foreign investment play a significant role in shaping the hotel industry landscape in the UAE.
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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