Hotels - Belgium

  • Belgium
  • The Hotels market in Belgium is expected to experience a rise in revenue, with projections showing an estimated value of US$3.79bn by 2024.
  • This figure is expected to grow annually at a rate of 2.60%, resulting in a projected market volume of US$4.20bn by 2028.
  • Moreover, the number of users in this market is expected to increase to 7.30m users by 2028.
  • The user penetration rate is expected to rise from 57.7% in 2024 to 61.8% by 2028.
  • The average revenue per user (ARPU) is projected to reach US$0.56k.
  • It is expected that by 2028, online sales will account for 94% of the total revenue generated in the Hotels market.
  • It is worth noting that in global comparison, United States is projected to generate the highest revenue, with an estimated value of US$110,500m in 2024.
  • Belgium's hotel market is experiencing a shift towards sustainable and eco-friendly accommodations, with many hotels making efforts to reduce their carbon footprint.

Key regions: Singapore, Indonesia, India, United States, Europe

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Hotels market will keep its pole-position among the Travel & Tourism markets, when it comes to revenues and user penetration rate. Surveys show that Hotels are, especially for Asian tourists, without doubt the most popular accomodation option.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels.

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.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • User Demographics
  • Global Comparison
  • Hotel Star Rating
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)