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.
- 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
- 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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