Travel & Tourism in Nigeria
Summary
Travel & Tourism in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Travel & tourism industry is segmented into passenger airlines, passenger rail, foodservice, hotels & motels, and travel intermediaries.
- The Nigerian travel & tourism industry recorded revenues of $15.7 billion in 2023, representing a compound annual growth rate (CAGR) of 2.3% between 2018 and 2023.
- The hotels & motels segment accounted for the industry's largest proportion in 2023, with total revenues of $5.8 billion, equivalent to 37.0% of the industry's overall value.
- Increasing capital investment in the travel & tourism industry is a key driver of growth, particularly in sectors such as airlines, railways, foodservice, and accommodation. Investors are channelling more funds into expanding travel infrastructure to meet rising demand. According to the World Bank, the capital investment in travel and tourism in Nigeria reached $6.9 billion in 2023, reflecting a 9.9% increase from 2022.
- 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
- What was the size of the Nigeria travel & tourism market by value in 2023?
- What will be the size of the Nigeria travel & tourism market in 2028?
- 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 are the strategies of the leading players f?
- 7.3. What are the recent developments in the industry?
- 8 Company Profiles
- 8.1. Accor SA
- 8.2. Ikeja Hotel plc
- 8.3. Booking Holdings Inc
- 8.4. Emirates Nigeria
- 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, 2018-23
- Table 2: Nigeria travel & tourism industry category segmentation: % share, by value, 2018-23
- Table 3: Nigeria travel & tourism industry category segmentation: $ million, 2018-23
- Table 4: Nigeria travel & tourism industry geography segmentation: $ million, 2023
- Table 5: Nigeria travel & tourism industry value forecast: $ million, 2023-28
- Table 6: Accor SA: Key Facts
- Table 7: Accor SA: Annual Financial Ratios
- Table 8: Accor SA: Key Employees
- Table 9: Accor SA: Key Employees Continued
- Table 10: Ikeja Hotel plc: Key Facts
- Table 11: Ikeja Hotel plc: Annual Financial Ratios
- Table 12: Ikeja Hotel plc: Key Employees
- Table 13: Booking Holdings Inc: Key Facts
- Table 14: Booking Holdings Inc: Annual Financial Ratios
- Table 15: Booking Holdings Inc: Key Employees
- Table 16: Emirates Nigeria: Key Facts
- Table 17: Emirates Nigeria: Key Employees
- Table 18: Nigeria Size of Population (million), 2019-23
- Table 19: Nigeria Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 20: Nigeria GDP (Current Prices, $ Billion), 2019-23
- Table 21: Nigeria Inflation, 2019-23
- Table 22: Nigeria Consumer Price Index (Absolute), 2019-23
- Table 23: Nigeria Exchange Rate, 2018-23
- List of Figures
- Figure 1: Nigeria travel & tourism industry value: $ million, 2018-23
- Figure 2: Nigeria travel & tourism industry category segmentation: $ million, 2018-23
- Figure 3: Nigeria travel & tourism industry geography segmentation: % share, by value, 2023
- Figure 4: Nigeria travel & tourism industry value forecast: $ million, 2023-28
- Figure 5: Forces driving competition in the travel & tourism industry in Nigeria, 2023
- Figure 6: Drivers of buyer power in the travel & tourism industry in Nigeria, 2023
- Figure 7: Drivers of supplier power in the travel & tourism industry in Nigeria, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the travel & tourism industry in Nigeria, 2023
- Figure 9: Factors influencing the threat of substitutes in the travel & tourism industry in Nigeria, 2023
- Figure 10: Drivers of degree of rivalry in the travel & tourism industry in Nigeria, 2023
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