Key regions: Malaysia, Europe, Singapore, Vietnam, United States
The Travel & Tourism market in Qatar has been experiencing significant growth in recent years, driven by various factors that have contributed to the development of the industry in the country.
Customer preferences: Travelers in Qatar are increasingly seeking unique and authentic experiences, leading to a rise in demand for luxury travel options, cultural tours, and eco-friendly accommodations. Tourists are also showing a preference for personalized services and seamless digital booking platforms to enhance their overall travel experience.
Trends in the market: One notable trend in the Qatari travel market is the focus on sustainable tourism practices, with a growing number of eco-friendly hotels and tour operators catering to environmentally conscious travelers. Additionally, there has been an increase in medical tourism in Qatar, with top-notch healthcare facilities attracting visitors seeking specialized medical treatments.
Local special circumstances: Qatar's strategic location as a gateway between East and West, along with its world-class infrastructure and hospitality services, has positioned the country as a desirable destination for both leisure and business travelers. The government's investments in tourism infrastructure, such as the development of museums, cultural sites, and entertainment venues, have further enhanced Qatar's appeal as a tourist destination.
Underlying macroeconomic factors: The steady economic growth and diversification efforts in Qatar have played a crucial role in driving the expansion of the travel and tourism sector. The country's hosting of major international events, such as the FIFA World Cup 2022, has also boosted tourism growth and investment in the hospitality industry. Additionally, Qatar's visa facilitation measures and efforts to promote tourism have contributed to the overall development of the travel market in the country.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.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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