DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/kh3wn4/travel_and) has announced the addition of the "Travel and Tourism in Nigeria to 2018" report to their offering.
Nigerian travel and tourism sector performed well during the review period (2009-2013) in terms of both tourist volumes and expenditures. An increased focus on tourism as a revenue- and job-generating sector, as reflected in the government's efforts to promote tourism, has benefitted the sector. A rise in investments, driven by economic growth, also contributed to the development of the tourism sector and its related markets.
Scope
- It details historical values for the Nigerian tourism sector for 2009-2013, along with forecast figures for 2014-2018
- It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009-2013 review period and the 2014-2018 forecast period
- The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Nigeria.
- It provides comprehensive analysis of the trends in the airline and hotel industries, with values for both the 2009-2013 review period and the 2014-2018 forecast period.
Key Highlights
- Nigeria has seen an increase in residents' preference for international holidays, with outbound tourist volumes increasing at a review-period CAGR of 6.65%. Outbound tourist expenditure also rose at a review-period CAGR of 17.70%. Improving economic conditions in the country have led to rises in income levels, enabling more Nigerians to holiday abroad. However, the volume of business travelers recorded the highest growth at a review-period CAGR of 8.97%, indicating a rise in business-related tourism activity in the country.
- The airline market in Nigeria has faced numerous challenges recently. Several domestic airlines have ceased operations, and fatal air crashes have contributed to a negative image for the country's airline services. Consumer confidence in Nigerian aviation services reached a low in 2012, with five fatal air crashes between March and October claiming more than 160 lives. Declines were recorded in both passenger traffic and revenue at respective rates of -4.2% and -3.6% in 2012. Overall, during the review period the total airline revenue increased at a CAGR of 5.02%, with strong domestic demand keeping the aviation industry active.
- The hotel market in Nigeria performed significantly well during the review period, with total revenue increasing at a robust CAGR of 21.32% from NGN682.8 billion (US$4.6 billion) in 2009 to NGN1.5 trillion (US$30.9 billion) in 2013. The total number of guests also increased at a CAGR of 5.46%. Rapid growth in the economy has attracted investors from around the world, and many leading hotel chains have expanded their footprints in the country. Increasing demand for luxury and upscale hotels by business travelers also contributed the increasing interest of international hotel chains in the country.
Key Topics Covered:
1 Executive Summary
3 Country Fact Sheet
4 Tourism Flows
5 Airlines
6 Hotels
7 Tourism Board Profile
8 Airport Profiles
9 Company Profiles - Airlines
10 Company Profiles - Hotels
11 Market Data Analysis
12 Appendix
Companies Mentioned
- Accor Hotels Nigeria
- Aero Contractors Company of Nigeria Ltd
- Arik Air Ltd
- Best Western International Nigeria
- British Airways Nigeria
- Emirates Nigeria
- Ethiopian Airlines Nigeria
- Golden Tulip Nigeria
- Protea Hotels Nigeria
- Starwood Hotels & Resorts Nigeria
For more information visit http://www.researchandmarkets.com/research/kh3wn4/travel_and
