Where did the money come from and where did it go? We were consulted by a client to do an independent research on the economics of Detty December, with focus on Lagos. 

 

Lagos Airport (MMA) cleared c.550,000 inbound passengers (between Nov 19 – Dec 26 2024) and 90% of the passengers were Diasporas visiting mainly for Leisure & Tourism.

 

The top five originating countries were the US, Canada, Italy, South Africa, and the UK. The top five destination states were Lagos, Edo, Delta, Ondo, and Ogun States.

 

Detty December in Lagos

Lagos recorded 1.2 million (est.) tourists. 60% were local tourists mostly from South East and FCT. 

 

Insecurity in the SE drove the numbers from the region while PBAT presence in Lagos drove the numbers from FCT.

 

Revenue from hotel bookings is estimated at N54 billion ($36 million) with 15k confirmed bookings in the month of December. Estimated F&B revenue from guest was N13.5 billion ($8 million)

 

The top 15 hotels, by our category, generated N10.5 billion in booking.

 

Eko Hotel ranked the highest by value while Albergo Hotel is the new kid on the block in the Top ranking.

 

Short-let Apartment bookings are estimated at N21 billion ($13 million) with 5,937 apartments booked in the month of December with an average rate of N120k per day.

 

Eko Atlantic ranked the highest residential booking by value while Banana Island ranked the highest estate bookings by value.

 

The Top 15 Lounge & Night clubs (1 in Ikeja, 1 in Surulere) generated N4.32 billion ($2.7 million) in sales. Average daily sales were N360 million at an average spend of N1.2m per table.

 

The one that creates a show on Ozumba Mbadiwe road ranked the highest while the one with kiosk entrance is the new kid on the block in the Top ranking.  The 3 on Adeola Odeku road also ranked high in the Top 15.

 

The Top 3 adult (strip) clubs generated a total of N2.5 billion in their 8 major nights each in December. 

 

The one in Oniru VI earned the most revenue from spraying of erotic dancers. The one in Ikate earned the most revenue by volume while the one in Lekki Phase 1 earned the most revenue by value.

 

N4.5 billion ($2.8 million) is the estimated revenue from other recreational activities with beach and resort bookings accounting for 70% of this revenue. 

 

Ilashe/Ibese beach houses and Elegushi beach houses were the Top 2 in revenue. Emerging players in this category are Giwa Gardens, and Lakowe Lakes & Resort.

 

100 Event Centres surveyed earned N1.2 billion ($804k) in bookings in December from a total of 1,175 bookings in the month of December. 

 

Eko Hotel & Suites ranked the highest in revenue by value while The Monarch Center emerged in the Top ranking.

 

Of the Car rental surveyed in Eti-Osa LG area, N1.5 billion ($937,500) was earned from 750 high-end Car bookings at an average daily rate of N200k with daily rate up to N2 million per day.

 

Other recreational activities generated an estimated N20 billion ($13 million) with top 6 categories being Artiste Bookings, Food & Drinks, DJs and sound equipment, Dancers, Boat Rental, and fine-dining.

 

Story credit: Don Kester

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