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Nigeria Travel and Tourism Market Summary and Forecast

January 2024 | 41 pages | ID: N01F36532AE4EN
MarketLine

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Nigeria Travel and Tourism Market Summary and Forecast

Summary

Travel & Tourism in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights
  • The travel & tourism industry consists of revenues generated by passenger airlines, passenger rail, hotels & motels, foodservice, travel intermediaries, and casinos & gaming.
  • The Nigerian travel & tourism industry had total revenues of $13 billion in 2022, representing a compound annual growth rate (CAGR) of 2.1% between 2017 and 2022.
  • The travel intermediaries segment accounted for the industry's largest proportion in 2022, with total revenues of $5.9 billion, equivalent to 45.1% of the industry's overall value.
  • Nigeria offers various tourist attractions such as wildlife, coastal beaches, historical monuments, UNESCO-approved heritage centers, mountains, and diverse cultures that help drive the country’s travel & tourism industry.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the travel & tourism market in Nigeria
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the travel & tourism market in Nigeria
  • Leading company profiles reveal details of key travel & tourism market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria travel & tourism market with five year forecasts by both value and volume
Reasons to Buy
  • What was the size of the Nigeria travel & tourism market by value in 2022?
  • What will be the size of the Nigeria travel & tourism market in 2027?
  • What factors are affecting the strength of competition in the Nigeria travel & tourism market?
  • How has the market performed over the last five years?
  • Who are the top competitors in Nigeria's travel & tourism market?
1 EXECUTIVE SUMMARY

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. Competitive landscape

2 MARKET OVERVIEW

2.1. Market definition
2.2. Market analysis

3 MARKET DATA

3.1. Market value

4 MARKET SEGMENTATION

4.1. Category segmentation
4.2. Geography segmentation

5 MARKET OUTLOOK

5.1. Market value forecast

6 FIVE FORCES ANALYSIS

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 COMPETITIVE LANDSCAPE

7.1. Who are the leading players?
7.2. What strategies do the leading players follow?
7.3. What are the strengths of the leading players?

8 COMPANY PROFILES

8.1. Marriott International Inc
8.2. Booking Holdings Inc
8.3. Arik Air Ltd

9 MACROECONOMIC INDICATORS

9.1. Country data

10 APPENDIX

10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine

LIST OF TABLES

Table 1: Nigeria travel & tourism industry value: $ million, 2017–22
Table 2: Nigeria travel & tourism industry category segmentation: % share, by value, 2017–2022
Table 3: Nigeria travel & tourism industry category segmentation: $ million, 2017-2022
Table 4: Nigeria travel & tourism industry geography segmentation: $ million, 2022
Table 5: Nigeria travel & tourism industry value forecast: $ million, 2022–27
Table 6: Marriott International Inc: key facts
Table 7: Marriott International Inc: Annual Financial Ratios
Table 8: Marriott International Inc: Key Employees
Table 9: Marriott International Inc: Key Employees Continued
Table 10: Marriott International Inc: Key Employees Continued
Table 11: Booking Holdings Inc: key facts
Table 12: Booking Holdings Inc: Annual Financial Ratios
Table 13: Booking Holdings Inc: Key Employees
Table 14: Arik Air Ltd: key facts
Table 15: Arik Air Ltd: Key Employees
Table 16: Nigeria size of population (million), 2018–22
Table 17: Nigeria gdp (constant 2005 prices, $ billion), 2018–22
Table 18: Nigeria gdp (current prices, $ billion), 2018–22
Table 19: Nigeria inflation, 2018–22
Table 20: Nigeria consumer price index (absolute), 2018–22
Table 21: Nigeria exchange rate, 2018–22

LIST OF FIGURES

Figure 1: Nigeria travel & tourism industry value: $ million, 2017–22
Figure 2: Nigeria travel & tourism industry category segmentation: $ million, 2017-2022
Figure 3: Nigeria travel & tourism industry geography segmentation: % share, by value, 2022
Figure 4: Nigeria travel & tourism industry value forecast: $ million, 2022–27
Figure 5: Forces driving competition in the travel & tourism industry in Nigeria, 2022
Figure 6: Drivers of buyer power in the travel & tourism industry in Nigeria, 2022
Figure 7: Drivers of supplier power in the travel & tourism industry in Nigeria, 2022
Figure 8: Factors influencing the likelihood of new entrants in the travel & tourism industry in Nigeria, 2022
Figure 9: Factors influencing the threat of substitutes in the travel & tourism industry in Nigeria, 2022
Figure 10: Drivers of degree of rivalry in the travel & tourism industry in Nigeria, 2022


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