The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
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The Insurance Industry in Kenya, Key Trends and Opportunities to 2017

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After the relatively slow growth of 7.8% in 2012, the lowest annual rate of expansion since 1999, the economy is expected to stabilize with annual growth edging up to an average of 8% over 2013–17. ...

After the relatively slow growth of 7.8% in 2012, the lowest annual rate of expansion since 1999, the economy is expected to stabilize with annual growth edging up to an average of 8% over 2013–17. This reflects continued urbanization and industrial upgrading. The economy is also expected to become more balanced, assuming that the government’s policy measures, which include greater rural social welfare, are successful in boosting domestic consumption.

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The Insurance Industry in Kenya, Key Trends and Opportunities to 2017 The Insurance Industry in Kenya, Key Trends and Opportunities to 2017 Document Transcript

  • The Insurance Industry in Kenya, Key Trends and Opportunities to 2017 Synopsis The report provides detailed market analysis, information and insights, including: Historic and forecast tourist volumes covering the entire Chinese travel and tourism sector Detailed analysis of tourist spending patterns in China The total, direct and indirect tourism output generated by each category within the Chinese travel and tourism sector Employment and salary trends for various categories in the Chinese travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, and travel intermediaries Detailed market classification across each category, with analysis using similar metrics Detailed analysis of the airline, hotel, car rental and travel intermediaries industries. Executive summary After the relatively slow growth of 7.8% in 2012, the lowest annual rate of expansion since 1999, the economy is expected to stabilize with annual growth edging up to an average of 8% over 2013–17. This reflects continued urbanization and industrial upgrading. The economy is also expected to become more balanced, assuming that the government’s policy measures, which include greater rural social welfare, are successful in boosting domestic consumption. Scope This report provides an extensive analysis related to the tourism demands and flows in China: It details historical values for the Chinese tourism sector for 2008–2012, along with forecast figures for 2013–2017 It provides comprehensive analysis of the travel and tourism demand factors with values for both the 2008–2012 review period and the 2013–2017 forecast period The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in China. It provides employment and salary trends for various categories of the travel and tourism sector It provides comprehensive analysis of the trends in airline, hotel, car rental and travel intermediaries industries, with values for both the 2008–2012 review period and the 2013–2017 forecast period Reasons to buy Take strategic business decisions using historic and forecast market data related to the Chinese travel and tourism sector. Understand the demand-side dynamics within the Chinese travel and tourism sector, along with key market trends and growth opportunities. Identify the spending patterns of domestic, inbound and outbound tourists by individual categories. Analyze key employment and compensation data related to the travel and tourism sector in China. Key highlights After the relatively slow growth of 7.8% in 2012, the lowest annual rate of expansion since 1999, the economy is expected to stabilize with annual growth edging up to an average of 8% in 2013–17. This reflects continued urbanization and industrial upgrading. The economy is also expected to become more balanced, assuming that the government’s policy measures, which include greater rural social welfare, are successful in boosting domestic consumption. Domestic tourist volume increased from 958.8 million tourists in 2008 to 1.6 billion in 2012, at a CAGR of 14.02% during the review period. Over the forecast period, trip volumes will increase at a CAGR of 13.83% to reach 3.1 billion by 2017. The key growth drivers The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • over the forecast period will be increased wealth and leisure time, and an improved transport network. Over the forecast period, domestic tourist expenditure is expected to increase at a CAGR of 26.17%, to reach CNY7.8 trillion (US$1.2 trillion) by 2017. China’s tourism sector is dependent on domestic tourism due to the country’s strict visa policy and group tour restrictions for traveling abroad. Domestic tourist flows are very high as compared to inbound tourist volumes. In 2012, China registered 1.6 billion domestic trips, while inbound trips were recorded at 59.4 million. China’s is the world’s largest domestic tourism market. Inbound spending increased across all categories except foodservice during the review period, with the transportation category registering the largest growth at a CAGR of 3.78%. Transportation accounted for the largest proportion of total inbound tourist expenditure in 2012 with a 35.5% share. Over the forecast period, the travel intermediaries category is expected to record the highest CAGR of 7.82%, followed by retail with a CAGR of 4.70% and foodservice with 4.65%. The total inbound expenditure is expected to increase from CNY3.1 trillion (US$498.4 billion) in 2012 to CNY3.9 trillion (US$618.4 billion) in 2017. Economic improvement in the eurozone countries and favorable regulatory changes will be the key growth drivers of inbound tourism. Chinese tourists are high spenders, and outbound tourism is also increasing, so numerous countries are creating strategies to attract Chinese tourists. Cambodia’s Ministry of Tourism, for example, has developed a five-year strategic plan to attract at least 1.3 million Chinese visitors by 2018. China’s air traffic volume, both domestically and internationally, increased during the review period. Passengers carried by Chinese as well as foreign airlines reached 313.8 million in 2012, expanding at a CAGR of 12.90% during the review period. Over the forecast period, the number of passengers carried is expected to increase at a CAGR of 6.90% to reach 437.9 million. The total revenue is also anticipated to increase from CNY333.9 billion (US$52.8 billion) in 2012 to CNY515.0 billion (US$81.5 billion) in 2017. The growth is in line with the increasing tourist volumes and air capacity. Total revenues generated by hotels in China increased at a CAGR of 14.89% during the review period. Total revenues are expected to increase at a CAGR of 8.57% to reach CNY480.4 billion (US$79.2 billion) by 2017, in line with a steady rise in tourism volumes, rising disposable incomes, and accommodation available at competitive prices. The highest numbers of inbound trips in 2012 came from Hong Kong with 36.4 million and Macau with 10.6 million. China’s car rental market grew at a CAGR of 18.15% during the review period to reach a value of CNY22.8 million (US$3.6 billion) in 2012. It is expected to reach CNY47.3 billion (US$7.5 billion) by 2017, recording a CAGR of 15.87% over the forecast period. Increases in international and domestic tourists, increase in urbanization rates, the high costs of owning and driving a car, and new government policies are curbing private car usage. China’s travel intermediaries market value is anticipated to increase at a CAGR of 17.12% over the forecast period to reach CNY726.3 billion (US$4.1 billion) in 2017. This increase will be driven by a rise in discretionary spending, increased business travel, and rising efforts to promote the travel sector in China internationally. The market share of online intermediaries is expected to increase with growing internet penetration. The online travel channel’s share of the travel intermediaries industry is expected to increase from 21.1% in 2012 to 36.4% in 2017. Consequently, the in-store channels market share is anticipated to decline from 78.9% in 2012 to 63.6% in 2017. table Of Contents 1 Executive Summary The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 2 Market Overview 2.1 The Domestic Economy 2.2 Travel And Tourism Trends And Issues 2.3 Tourism Swot 2.3.1 Strengths 2.3.2 Weaknesses 2.3.3 Opportunities 2.3.4 Threats 2.4 Country Fact Sheet 2.5 Demographic Profile 3 Tourism Flows 3.1 Domestic Tourism 3.1.1 Performance Outlook 3.1.2 Key Issues And Trends 3.2 Inbound Tourism 3.2.1 Performance Outlook 3.2.2 Key Issues And Trends 3.3 Outbound Tourism 3.3.1 Performance Outlook 3.3.2 Key Issues And Trends 3.4 Tourism Flows Forecast Highlights 4 Airlines 4.1 Performance Outlook 4.2 Key Issues And Trends 4.3 Airlines Forecast Highlights 5 Hotels 5.1 Performance Outlook 5.2 Key Issues And Trends 5.3 Hotels Forecast Highlights 6 Car Rental 6.1 Performance Outlook 6.2 Key Issues And Trends 6.3 Car Rental Forecast Highlights The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 7 Travel Intermediaries 7.1 Performance Outlook 7.2 Key Issues And Trends 7.3 Travel Intermediaries Forecast Highlights 8 Tourism Board Profile 8.1 Tourism Board Name 8.2 Tourist Board Description 8.3 Target Market 9 Airport Profiles 9.1 China Airports 9.1.1 Overview 9.1.2 Operator Profile 9.1.3 Routes 10 Company Profiles – Airlines 10.1 Company Profile: Shanghai Airlines Co., Ltd 10.1.1 Shanghai Airlines Co., Ltd – Company Overview 10.1.2 Shanghai Airlines Co., Ltd – Main Services And Brands 10.1.3 Shanghai Airlines Co., Ltd – Key Competitors 10.1.4 Shanghai Airlines Co., Ltd – Key Employees 10.2 Company Profile: Air China Ltd 10.2.1 Air China Ltd – Company Overview 10.2.2 Air China Ltd – Business Description 10.2.3 Air China Ltd – Main Services 10.2.4 Air China Ltd – History 10.2.5 Air China Ltd – Swot Analysis 10.2.6 Air China Ltd – Strengths 10.2.7 Air China Ltd – Weaknesses 10.2.8 Air China Ltd – Opportunities 10.2.9 Air China Ltd – Threats 10.2.10 Air China Ltd – Key Competitors 10.2.11 Air China Ltd – Key Employees 10.3 Company Profile: China Eastern Airlines Corporation Ltd 10.3.1 China Eastern Airlines Corporation Ltd – Company Overview 10.3.2 China Eastern Airlines Corporation Ltd – Business Description 10.3.3 China Eastern Airlines Corporation Ltd – Main Services And Brands 10.3.4 China Eastern Airlines Corporation Ltd – History 10.3.5 China Eastern Airlines Corporation Ltd – Swot Analysis The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 10.3.6 China Eastern Airlines Corporation Ltd – Strengths 10.3.7 China Eastern Airlines Corporation Ltd – Weaknesses 10.3.8 China Eastern Airlines Corporation Ltd – Opportunities 10.3.9 China Eastern Airlines Corporation Ltd – Threats 10.3.10 China Eastern Airlines Corporation Ltd – Key Competitors 10.3.11 China Eastern Airlines Corporation Ltd – Key Employees 10.4 Company Profile: Hainan Airlines Co. Ltd 10.4.1 Hainan Airlines Co. Ltd – Company Overview 10.4.2 Hainan Airlines Co. Ltd – Business Description 10.4.3 Hainan Airlines Co. Ltd – Main Services And Brands 10.4.4 Hainan Airlines Co. Ltd – History 10.4.5 Hainan Airlines Co. Ltd – Swot Analysis 10.4.6 Hainan Airlines Co. Ltd – Strengths 10.4.7 Hainan Airlines Co. Ltd – Weaknesses 10.4.8 Hainan Airlines Co. Ltd –opportunities 10.4.9 Hainan Airlines Co. Ltd – Threats 10.4.10 Hainan Airlines Co. Ltd – Key Competitors 10.4.11 Hainan Airlines Co. Ltd – Key Employees 10.5 Company Profile: China Southern Airlines Ltd 10.5.1 China Southern Airlines Ltd – Company Overview 10.5.2 China Southern Airlines Ltd – Business Description 10.5.3 China Southern Airlines Ltd – Main Services 10.5.4 China Southern Airlines Ltd – History 10.5.5 China Southern Airlines Ltd – Swot Analysis 10.5.6 China Southern Airlines Ltd – Strengths 10.5.7 China Southern Airlines Ltd – Weaknesses 10.5.8 China Southern Airlines Ltd – Opportunities 10.5.9 China Southern Airlines Ltd – Threats 10.5.10 China Southern Airlines Ltd – Key Competitors 10.5.11 China Southern Airlines Ltd – Key Employees 11 Company Profiles – Hotels 11.1 Company Profile: Fairmont Hotels & Resorts China. 11.1.1 Fairmont Hotels & Resorts China – Company Overview 11.1.2 Fairmont Hotels & Resorts China – Main Services 11.1.3 Fairmont Hotels & Resorts China – Key Competitors 11.1.4 Fairmont Hotels & Resorts China – Key Employees 11.2 Company Profile: Shanghai Jin Jiang International Hotels (group) Company Ltd 11.2.1 Shanghai Jin Jiang International Hotels (group) Company Ltd – Company Overview 11.2.2 Shanghai Jin Jiang International Hotels (group) Company Ltd – Business Description 11.2.3 Shanghai Jin Jiang International Hotels (group) Company Ltd – Main Services And Brands 11.2.4 Shanghai Jin Jiang International Hotels (group) Company Ltd – History The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 11.2.5 Shanghai Jin Jiang International Hotels (group) Company Ltd – Swot Analysis 11.2.6 Shanghai Jin Jiang International Hotels (group) Company Ltd – Strengths 11.2.7 Shanghai Jin Jiang International Hotels (group) Company Ltd – Weaknesses 11.2.8 Shanghai Jin Jiang International Hotels (group) Company Ltd – Opportunities 11.2.9 Shanghai Jin Jiang International Hotels (group) Company Ltd – Threats 11.2.10 Shanghai Jin Jiang International Hotels (group) Company Ltd – Key Competitors 11.2.11 Shanghai Jin Jiang International Hotels (group) Company Ltd – Key Employees 11.3 Company Profile: Mandarin Oriental China 11.3.1 Mandarin Oriental China – Company Overview 11.3.2 Capella China – Main Services And Brands 11.3.3 Mandarin Oriental China – Key Competitors 11.3.4 Mandarin Oriental China – Key Employees 11.4 Company Profile: Marriott China 11.4.1 Marriott China – Company Overview 11.4.2 Marriott China – Main Services 11.4.3 Marriott China – Key Competitors 11.4.4 Marriott China – Key Employees 11.5 Company Profile: Four Seasons China 11.5.1 Four Seasons China – Company Overview 11.5.2 Four Seasons China – Main Services 11.5.3 Four Seasons China – Key Competitors 11.5.4 Four Seasons China – Key Employees 12 Company Profiles – Car Rental 12.1 Company Profile: China Auto Rental Holdings Inc. 12.1.1 China Auto Rental Holdings Inc. – Company Overview 12.1.2 China Auto Rental Holdings Inc. – Main Services 12.1.3 China Auto Rental Holdings Inc. – Key Competitors 12.1.4 China Auto Rental Holdings Inc. – Key Employees 12.2 Company Profile: Ehi Auto Services Ltd 12.2.1 Ehi Auto Services Ltd – Company Overview 12.2.2 Ehi Auto Services Ltd – Main Services 12.2.3 Ehi Auto Services Ltd – Key Competitors 12.2.4 Ehi Auto Services Ltd – Key Employees 12.3 Company Profile: Hertz China 12.3.1 Hertz China – Company Overview 12.3.2 Hertz China – Main Services 12.3.3 Hertz China – Key Competitors 12.3.4 Hertz China – Key Employees 12.4 Company Profile: Avis China Car Rental Service 12.4.1 Avis China Car Rental Service – Company Overview 12.4.2 Avis China Car Rental Service – Main Services The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 12.4.3 Avis China Car Rental Service – Key Competitors 12.4.4 Avis China Car Rental Service – Key Employees 12.5 Company Profile: The Guangzhou Refine Car Rental Co., Ltd 12.5.1 The Guangzhou Refine Car Rental Co., Ltd – Company Overview 12.5.2 The Guangzhou Refine Car Rental Co., Ltd – Main Services 12.5.3 The Guangzhou Refine Car Rental Co., Ltd – Key Competitors 12.5.4 The Guangzhou Refine Car Rental Co., Ltd – Key Employees 13 Company Profiles – Travel Intermediaries 13.1 Company Profile: Success China Tours 13.1.1 Success China Tours – Company Overview 13.1.2 Success China Tours – Main Services 13.1.3 Success China Tours – Key Competitors 13.1.4 Success China Tours – Key Employees 13.2 Company Profile: China Travel Service Head Office Co., Ltd 13.2.1 China Travel Service Head Office Co., Ltd – Company Overview 13.2.2 China Travel Service Head Office Co., Ltd – Main Services 13.2.3 China Travel Service Head Office Co., Ltd – Key Competitors 13.2.4 China Travel Service Head Office Co., Ltd – Key Employees 13.3 Company Profile: China Connection Tours 13.3.1 China Connection Tours – Company Overview 13.3.2 China Connection Tours – Main Services 13.3.3 China Connection Tours – Key Competitors 13.3.4 China Connection Tours – Key Employees 13.4 Company Profile: China Comfort Travel Group Co., Ltd 13.4.1 China Comfort Travel Group Co., Ltd – Company Overview 13.4.2 China Comfort Travel Group Co., Ltd – Main Services 13.4.3 China Comfort Travel Group Co., Ltd – Key Competitors 13.4.4 China Comfort Travel Group Co., Ltd – Key Employees 13.5 Company Profile: China Odyssey Tours 13.5.1 China Odyssey Tours – Company Overview 13.5.2 China Odyssey Tours – Main Services 13.5.3 China Odyssey Tours – Key Competitors 13.5.4 China Odyssey Tours – Key Employees 14 Market Data Analysis 14.1 Tourism Output 14.1.1 Total Tourism Output 14.1.2 Direct Tourism Output 14.1.3 Indirect Tourism Output 14.1.4 Tourism Output Per Employee The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 14.1.5 Direct Tourism Output Per Employee 14.1.6 Indirect Tourism Output Per Employee 14.2 Tourism Employment 14.2.1 Total Tourism Employment 14.2.2 Direct Tourism Employment 14.2.3 Indirect Tourism Employment 14.2.4 Tourism Employee Compensation 14.2.5 Total Gross Income Generated By Total Tourism Employment 14.3 Domestic Tourism 14.3.1 Domestic Trips By Purpose Of Visit 14.3.2 Number Of Overnight Stays 14.3.3 Total Domestic Tourist Expenditure 14.3.4 Average Expenditure Per Domestic Tourist By Category 14.4 Inbound Tourism 14.4.1 International Arrivals By Region 14.4.2 International Arrivals By Purpose Of Visit 14.4.3 Total Inbound Tourism Expenditure By Category 14.4.4 Average International Tourist Expenditure By Category 14.5 Outbound Tourism Flows 14.5.1 International Departures By Region 14.5.2 International Departures By Purpose Of Visit 14.5.3 Number Of Overnight Stays 14.5.4 Total Outbound Tourism Expenditure By Category 14.5.5 Average Outbound Expenditure Per Resident By Category 14.6 Airlines 14.6.1 Seats Available 14.6.2 Seats Sold By Carrier Type – Business Travel 14.6.3 Seats Sold By Carrier Type – Leisure Travel 14.6.4 Load Factor By Carrier Type 14.6.5 Passenger Kilometers Available By Carrier Type 14.6.6 Revenue-generating Passenger Kilometers By Carrier Type 14.6.7 Revenue Per Passenger By Carrier Type 14.6.8 Total Revenue By Carrier Type 14.7 Hotels 14.7.1 Establishments By Hotel Category 14.7.2 Available Rooms By Hotel Category 14.7.3 Room Occupancy Rate By Hotel Category 14.7.4 Room Nights Available By Hotel Category 14.7.5 Room Nights Occupied By Hotel Category 14.7.6 Average Revenue Per Available Room By Hotel Category 14.7.7 Revenue Per Occupied Room By Hotel Category 14.7.8 Total Revenue Per Available Room By Hotel Category 14.7.9 Total Revenue By Hotel Category And Customer Type The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • 14.7.10 Guests By Hotel Category And Customer Type 14.8 Car Rentals 14.8.1 Market Value By Customer Type And Rental Location 14.8.2 Fleet Size 14.8.3 Rental Occasions And Days 14.8.4 Rental Length 14.8.5 Average Rental Length 14.8.6 Utilization Rate 14.8.7 Average Revenue Per Day 14.9 Travel Intermediaries 14.9.1 Market Value By Product Type 14.9.2 Online Revenues By Type Of Intermediary Or Provider 14.9.3 Online Revenues By Type Of Tourist 14.9.4 In-store Revenues By Type Of Intermediary 14.9.5 In-store Revenues By Type Of Tourist 14.9.6 Travel Agent Revenues From Domestic Tourism, By Sales Channel 14.9.7 Travel Agent Revenues From International Tourism By Sales Channel 14.9.8 Tour Operator Revenues From Domestic Tourism, By Sales Channel 14.9.9 Tour Operator Revenues From International Tourism, By Sales Channel 14.9.10 Other Intermediaries Revenues From Domestic Tourism, By Sales Channel 14.9.11 Other Intermediaries Revenues From International Tourism By Sales Channel 15 Appendix 15.1 What Is This Report About? 15.2 Definitions 15.3 Methodology 15.4 Contact Timetric 15.5 About Timetric 15.6 Timetric’s Services 15.7 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, The Insurance Industry in Kenya, Key Trends and Opportunities to 2017
  • Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ The Insurance Industry in Kenya, Key Trends and Opportunities to 2017