Hospitality industry growth statistics worldwide. 18% during the forecast period (2024-2029).

Hospitality industry growth statistics worldwide Expected revenue of hospitality industry in Saudi India Hospitality Market Overview. eZee Absolute Online Hotel Management System. 13% between 2023 and 2028. Dec 2, 2024 · Not only does this growth benefit hospitality companies, it also benefits the wider economy; in 2023 the direct state and local tax revenue generated from hotels in the U. 43 billion in 2024 and grow at a CAGR of 4. In a diverse market such as hospitality, statistics need to be divided into relevant categories, each reflecting its own trends. The Global hospitality industry statistics. Mar 12, 2024 · Premium Statistic Airbnb revenue distribution worldwide 2019-2023, by region Premium Statistic Airbnb operations income worldwide 2017-2023 The Hospitality Industry In Singapore is expected to reach USD 4. 43 trillion U. 41 billion, with a CAGR of 15. are the major companies operating in this market. Given this momentous change, it’s important for stakeholders to consider and strategize on four major themes: Aug 19, 2024 · The market size of the hotel and resort sector worldwide peaked at 1. 39 trillion in 2022 to $4. 94% from 2024 to 2032 and be worth USD Looking forward, an annual growth rate of 3. 6 billion in 2023. 29 billion by 2029, growing at a CAGR of 1. Owing to travel restrictions decided by governments worldwide, the Dec 5, 2024 · The hospitality market is also expanding rapidly, projected to grow from $3448. Apr 19, 2024 · View ResDiary's 2023 Hospitality Statistics here. 0%. Oberoi Hotels & Resorts, The Park Hotel, ITC Hotels, Lemon Tree Hotels and Taj Hotels are the major companies operating in this market. Statistics for the 2024 Hospitality Industry in Vietnam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 2023; Global Premium Statistic Cloud-based IT software benefits in the travel/hospitality industry worldwide 2020; Premium Statistic Familiarity with cloud computing in the travel/hospitality industry May 5, 2024 · The hospitality industry is expected to bounce back after the Covid-19 Pandemic and continue powerful growth to reach $4,699. Marriott international, Far East Hospitality, InterContinental Hotels Group Plc, Pan Pacific Hotels Group and Accor SA are the major companies operating in this market. 47 billion in 2023 to $3981. Worldwide hotel Nov 1, 2023 · Global “Hospitality Market” [2023-2030] research report provides analysis of different types of products, as well as market forecasts. 36 billion in 2024 and grow at a CAGR of 4. 90bn in 2029. Furthermore, the booming hotel market reached more than $1. India has been successful as a leading global destination for leisure and business travelers, which has undoubtedly positively impacted the country's hospitality sector. 79% (2024-2029) resulting in a market volume of US$0. 78 billion in 2024, and is expected to reach USD 4. Genting Group, Accor SA, Shangri-la Hotels and Resorts, Hilton Worldwide Holdings Inc and Marriott International Inc are the major companies operating in this market. The global hospitality market displayed significant growth after the challenges of the COVID-19 pandemic. Menu. Marriott International, Hilton Worldwide, Wyndham Hotels & Resorts, InterContinental Hotels Group (IHG) and Choice Hotels International Inc. 90bn by 2029. Globalization has made tourism a popular leisure activity around the world. 65 billion by 2029, growing at a CAGR of 4. The growth observed in the historic period can be attributed to the expansion of travel and tourism, cultural and social transformations, global events including pandemics, and increased investment in Current Scenario of the Global Tourism and Hospitality Market. 1 million employees over the past year. The Global Luxury Hotel Market is expected to reach USD 139. Topic overview. The categories of hospitality trends and stats are: Hospitality industry statistics worldwide a. Oct 22, 2024 · The hospitality industry is expected to grow from $4,107. Let’s look at what the employment situation in the Jan 10, 2024 · Find the most up-to-date statistics and facts on the hospitality industry in Canada Retail e-commerce sales growth worldwide 2017-2027; Automotive industry worldwide - statistics & facts; Jan 22, 2024 · Premium Statistic Carbon footprint of domestic tourism transport worldwide 2005-2030, by type Environmental impact Basic Statistic Global carbon dioxide emissions from energy 1965-2023, by region Hotel industry worldwide Retail e-commerce sales growth worldwide 2017-2027; Topics. This statistic describes the annual growth rate of the hospitality industry in the United Arab Emirates from 2016 to 2018. Marriott International Inc, Hilton Worldwide Holdings Inc, Jumeirah Group, Emaar Hospitality Group and DAMAC Properties are the major companies operating in this market. One hotel project is expected to add 110 rooms in early 2020, with another under construction and due to open in 2021. , health and wellness, medicine, culture, or leisure travel, the growth in Egypt's tourism sector is creating an incentive Jun 9, 2023 · The global hospitality industry is worth nearly $4. This represents 95. This showed five percent growth over the previous year's figure of 1. This statistic shows growth in the Australian hospitality industry between the fiscal years 2013 and 2018, by sector. Through Smart Hospitality Market Research, 2031. 87% to reach USD 313. 53bn in 2029. 5% over the next 5 years. 50 billion by 2030. The hospitality industry includes any business where the primary source of income is the sale of food and drink or the provision of lodging. Statistics for the 2024 Indonesia Hospitality Real Estate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Considering AI’s capability to automate repetitive tasks that free up valuable human hours, its rise in the hospitality industry is not surprising. 68 billion by 2029, growing at a CAGR of 4. dollars and was Hospitality refers to the activity or business that provides services to customers in hotels, restaurants and bars. 7 trillion in 2023, with forecasts predicting 23. The hospitality market size has grown strongly in recent years. 99B Mar 22, 2024 · Premium Statistic Market cap of leading travel, hospitality, and leisure companies in France 2024 Premium Statistic Accor revenue 2019-2023 Find statistics, consumer survey results and industry studies from over 22,500 sources on over 60,000 topics on the internet's leading statistics database The Hospitality Industry in South Africa Market size is estimated at USD 1. Top Report. View Chart. 67% (CAGR 2025-2029) is expected, resulting in a projected market volume of US$511. As examples, the F&B category includes restaurants, bars, and food trucks; travel & tourism covers different forms of transportation and travel agencies; lodging varies from hotel resorts to Hence, in this blog, we will divide them into categories to give our readers a clear understanding of the numbers and the hospitality industry dynamics. 57 billion in 2024 and grow at a CAGR of 5. Wyndham Hotel Group LLC, Choice Hotels International Inc, Best Western International Inc, Coast Hotels Limited and Marriott International Inc are the major companies operating in this market. 63 billion in 2023 to $4993. 7 trillion, achieving a compound annual growth rate (CAGR) of 7%. 1%, from $3,952 billion in 2021 to $4,548 billion in 2022. The Hospitality Industry In Egypt Market size is estimated at USD 3. Dec 29, 2024 · Key Statistics in the Hospitality Industry. 83 billion in 2025 and grow at a CAGR of 13. 5B and $37. S. This significant expansion is a testament Dec 4, 2024 · The global hospitality industry is projected to grow from $4. Jan 10, 2024 · Hotel Industry Employment Statistics. Hotel industry worldwide - statistics & facts; Top Report. Specifically, domestic air travel in August 2023 experienced a 25. and further hospitality statistics here. 7 trillion U. Topic Digitalization of hospitality worldwide - statistics & facts. The global smart hospitality market size was valued at $18. In fact, 86% of global hotel chains plan to invest in AI over other hotel innovations. Shifting source markets and destinations, growing demand for experiential and luxury travel, and innovative business strategies are all combining to dramatically alter the industry landscape. * The travel market in India is projected to reach US$ The Hospitality Industry in Japan Market size is estimated at USD 24. Growth factors include infrastructure development, the popularity of experiential travel, and rising demand for unique experiences. Sole proprietorship hotels in the US generate an Apr 5, 2024 · Find statistics, consumer survey results and industry studies from over 22,500 sources on over 60,000 topics on the internet's leading statistics database Oct 8, 2021 · Premium Statistic Familiarity with cloud computing in the travel/hospitality industry worldwide 2020 Premium Statistic Key benefits of cloud computing in the hotel industry worldwide 2020 The US Hospitality Market is expected to reach USD 247. com! Tourism & Hospitality; Retail e-commerce sales growth worldwide 2017-2027; Topics. It will grow from $4673. For more information, read our topic page on tourism worldwide! Dec 18, 2024 · The market size of the global travel market and hospitality industry for 2024 was $4,993 billion — an all-time high — and is expected to grow to over $6,000 billion in 2028. 2 days ago · The hospitality industry is a broad category of fields within the service industry that includes lodging, According to statistics from the Vietnam National Administration of Tourism, the Vietnamese hotel industry has had an average growth rate of 15% per year in the period 2010-2022. 18% during the forecast period (2024-2029). 43% during the forecast period (2024-2029). In Japan, hotel performance remained weak for most of 2021. 7 billion by 2031, growing at a CAGR of 22% from 2022 to 2031. 96% to reach USD 541. 99B Sep 6, 2024 · With more and more people traveling, the global tourism industry has boomed over the last decade. Growth factors include 1 day ago · The latest figures reveal a notable expansion in the hospitality market, with an impressive surge from $3. 34 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 10. 41 billion in 2025 and grow at a CAGR of 9. 26% to reach USD 5. 36 billion in 2024, and is expected to reach USD 1. 3 days ago · Southeast Asia's Hotel Industry Promising Future: Southeast Asia is leading the charge in the hospitality industry's recovery, setting a robust growth trajectory for the region. 4% compared to August 2022. Jan 4, 2024 · Hospitality Net, Impact on the hotel industry's key performance indicators in the United States due to the coronavirus (COVID-19) pandemic for the week ending December 25, 2021 Statista, https Jun 30, 2021 · This article provides a reflection on the challenges and growth trajectory of the hospitality industry in South Africa during the period 1994 – 2020. This industry includes a wide range of service-related fields such as hote Dec 5, 2024 · The hospitality market is also expanding rapidly, projected to grow from $3448. 51 billion in 2024 at a 15. 27% to reach USD 53. Despite Australian's increasing their spending across all sectors, 2023/24 saw a changing domestic economic landscape in Australia that has contributed to hospitality industry challenges. tourism has become popular around the world as a leisure activity with easy travelling facilities. Looking ahead, we can expect rapid growth Jun 3, 2024 · In 2023, the hospitality industry's revenue in Italy grew significantly compared to 2019, the year before the onset of the COVID-19 pandemic. The hospitality industry shows steady resilience and growth. Hospitality Industry in Vietnam analysis includes a market forecast outlook to Jan 30, 2024 · Find the most up-to-date statistics and facts on the impact of the coronavirus pandemic on the global tourism industry. GLOBAL HOSPITALITY INDUSTRY TREND PRE AND POST COVID-19, 2018-2025 (%) 2. Marriott International Inc, Accor SA, Hilton Worldwide Holdings Inc, Radisson Hotels Jul 13, 2023 · *Drawing upon world-class healthcare amenities and traditional healing practices, medical tourism and wellness retreats entice 21% of international travelers. Learn how hotels are bouncing back and what’s driving Nov 6, 2024 · Being a key pillar of the hospitality industry, the impact of transportation cannot be underestimated. Dec 2, 2024 · The EHL Insights Report: Hospitality Outlook 2025 takes an expert look at five key trends shaping the future of the hospitality industry. Mar 9, 2023 · Research Summary. Indonesia Hospitality Real Estate analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. 5 trillion U. 46% to reach USD 65. dollars. Mar 26, 2024 · Premium Statistic Global hotel and resort industry market size worldwide 2022-2023 Premium Statistic Market value of biggest global hospitality and recreation companies 2024 This statistic shows revenue in the Australian hospitality industry during the fiscal year to June 2018, by sector. Asia Pacific is the Hospitality Market Size 2024 And Growth Rate. 68 billion by 2029. Growth in tourism and an increase in investments in hotel projects and a surge in demand for real-time optimized guest experience management are propelling the growth of The global Hospitality market size was valued at USD 4119. By 2028, the market is expected to grow to $7108. Feb 27, 2020 · Low supply growth has helped the market’s continued occupancy growth; since 2011, the market has seen a net growth of only 182 hotel rooms. Property Management System; 2,246 hotels opened worldwide, The Hospitality Industry in South Africa is expected to reach USD 1. (TheBusinessResearchCompany). Feb 14, 2020 · This will boost the hospitality industry statistics worldwide by generating an estimated amount of $211. 35 billion by 2030. Aug 16, 2024 · Find the most up-to-date statistics about the hotel industry in the United Kingdom Retail e-commerce sales growth worldwide 2017-2027; Topics. In August 2023, the total amount of air travel, as measured by revenue passenger kilometers (RPKs), increased by 28. About 10. Statistics report on the hospitality and tourism industry in the United Kingdom (UK) This report provides a selection of key statistics on the hospitality and tourism industry in the United Kingdom. The industry research and market data provide detailed insights into market trends, market growth, and market predictions, helping stakeholders make informed decisions. 3 Billion in 2022. 59 billion in 2022 to $4,699. Hospitality market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing This report presents a range of statistics and facts on digitalization of the hospitality industry worldwide. [31] [32] See also Feb 15, 2022 · This statistic describes the annual growth rate of the hospitality industry in Saudi Arabia from 2016 to 2018. 54 billion by the The latest hospitality industry growth statistics suggest the market remains on the up. Industry Growth and Recovery. The tourism industry experienced remarkable recovery and reached pre-pandemic levels across hotel occupancy rates, daily rates, profitability, and RevPAR. Market performance of hospitality has exceeded other industries such as technology and retail, with the gap Indonesia Hospitality Real Estate Industry Report . REST OF WORLD HOSPITALITY INDUSTRY RESEARCH AND ANALYSIS 2018-2025 ($ MILLION) 1. Different application fields have different usage and The hospitality market size has grown strongly in recent years. 45 billion in 2025 and grow at a CAGR of 4. 31 billion in 2024, and is expected to reach USD 475. 4% increase compared to the same month in 2022 and 9. This optimism underscores the region's Annual car sales worldwide 2010-2023, with a forecast for 2024; Monthly container freight rate index worldwide 2023-2024; Automotive manufacturers' estimated market share in the U. It includes information on reasons for digitalization, customer opinions, cloud Industry statistics and industry information are crucial for understanding the current state and future prospects of the hospitality industry in Hong Kong. The hotel sector has grown YoY over the past decade but how Apr 22, 2024 · It encompasses many industries, the largest of which are accommodation and food and drink services. This ongoing low supply growth should ease the impact of slowing Jun 28, 2023 · Hospitality Industry Overview: key statistics; Hospitality Industry Growth: Marriott and Hilton remain the world’s most valuable hospitality brands, valued in 2023 at $53. dollars) Premium Statistic Global hotel and resort industry market size worldwide 2022-2023 Industry Insights [226+ Pages Report] According to the report published by Facts Factors, the global hospitality market size was worth around USD 3953 billion in 2021 and is predicted to grow to around USD 6716. Market size of the hospitality industry worldwide in 2023, Mar 29, 2024 · Hospitality Industry Overview: key statistics; Hospitality Industry Growth: Marriott and Hilton remain the world’s most valuable hospitality brands, valued in 2023 at $53. By 2023, the market had Oct 8, 2024 · Discover the latest hotel statistics and trends for 2024, from rising room demand to the impact of AI, bleisure travel, and sustainability on the hospitality industry. The Hospitality Industry In India Market size is estimated at USD 247. 2% higher Feb 15, 2022 · This statistic describes the annual growth rate of the hospitality industry in Egypt from 2016 to 2018. With property 6 days ago · Meanwhile, the whole global hospitality market is predicted to grow by 15. Hotel industry worldwide Statistics report on the global hotel industry The Hospitality Industry In India is expected to reach USD 281. 2 Billion by 2032, exhibiting a The UAE Hospitality Market is expected to reach USD 50. India's Hospitality Market Size was valued at USD 25. 5% CAGR. 8%. 7% of the 2019 levels. By 2023, the market had grown from $4. Apr 10, 2024 · Discover all statistics and data on Hotel industry in Europe now on statista. There [] Other travel indicators show a similar growth pattern. 3 billion by 2028 with a compound annual growth rate (CAGR) of roughly 10. View Report. 79 billion in 2024, and is expected to reach USD 26. 8 billion in 2021, and is projected to reach $133. 5 trillion in 2019 Mar 23, 2023 · T here is one cautionary note that is always important to keep in mind when evaluating the hospitality industry. 71 billion in 2024 at a compound annual growth rate (CAGR) of 6. 37 billion by 2029, growing at a CAGR of 13. The Hospitality Industry in Malaysia is growing at a CAGR of greater than 6. Skip to main content Hotel industry worldwide - statistics & facts. Here are the key statistics on the hotel industry: There are at least 187,000 hotels in the world as of 2023. g. Today, the global travel industry is billed as the fastest and largest growing sector of the hospitality industry. Skip to content. By this year, the number of users in this market is Dec 11, 2024 · 1. dollars in 2023. Like in other segments of the hospitality industry, Jul 11, 2024 · Between 2023 to 2028, it was forecasted that the cumulative annual growth rate (CAGR) of the hospitality industry's revenue would be the highest for Qatar, amounting to almost 11 percent among the The Hotels market worldwide is projected to grow by 3. 60B in 2022 to $9,950B in 2028, with a compound annual growth rate (CAGR) of 16. 46 billion by 2029. Skip to Retail e-commerce sales growth worldwide 2017-2027; Topics. 4 Nov 7, 2023 · The hospitality sector in France experienced an economic slowdown due to the pandemic crisis caused by the Covid-19 virus. The overview specifically focused on the The Hotels market in in the United Arab Emirates is projected to grow by 3. The report analyzes the global hospitality market drivers, The ever-expanding global tourism industry was one of the major factors driving the growth of the hospitality industry before the coronavirus outbreak. 6 Billion in 2023 to USD 39. The tourism and Hospitality Market is the largest industry in the world, contributing 10% of the world’s GDP. The India Hospitality market industry is projected to grow from USD 26. . Products. 5 million people are employed in the global hotel and resort industry. 96% during the forecast period (2024-2029). Businesses have needed to adapt to increasing remote work, changing travel patterns and new concerns over health and safety. ) The global hotel market: There are around 187,000 hotels globally as of 2023, with an estimated Jun 10, 2024 · Retail e-commerce sales growth worldwide 2017-2027; Topics. With a workforce of over 20 million individuals, this sector is a notable employer worldwide. 8% in growth over the next four years. reached around 52. 57 billion in 2023, achieving a compound annual growth rate (CAGR) of 7. 6%. Aug 23, 2024 · The hospitality industry experienced a remarkable growth from $4,390. 24% between 2022 and 2028. 95 trillion by 2028, with a compound annual growth rate (CAGR) of 16. The hotel industry not only reaches across the globe but also spans a wide cross-section of options ranging from budget motels to luxury resorts, making it an interesting field to study. Mordor Intelligence™ Industry Reports provide statistics for the Luxury Hotel Jun 13, 2024 · Premium Statistic Inbound tourism visitor growth worldwide 2020-2025, by region Premium Statistic Outbound tourism visitor growth worldwide 2020-2025, by region Further related statistics Sep 13, 2024 · A Snapshot of the Global Hospitality Industry. The global market is anticipated to grow at a CAGR of 5. Due to the diversification of new forms of tourism, e. 43% to reach USD 1. 25% during the forecast period (2024-2029). Dec 20, 2024 · Tourism and hospitality are on a journey of disruption. An impressive 77% of hotels in the Asia-Pacific region, with a significant concentration in Southeast Asia, are projecting higher occupancy levels for 2024. The industry shows strong signs of recovery after sustaining heavy losses during the Covid-19 pandemic. South Africa has 1. 1 trillion in 2022 to $9. The industry’s potential for growth is evident in its addition of 1. Industry Growth. 98 trillion in 2024, marking a robust The size of the global tourism and hospitality market was worth USD 8,207 million in 2023. Based on comprehensive research and expertise from EHL faculty members and the school’s extensive network of industry leaders, it offers a thoughtful perspective on where the industry is heading in the coming years. 27 billion in 2025 and grow at a CAGR of 5. 43 Compare market size and growth of Global Luxury Hotel Market with other markets in Hospitality and Tourism Industry. 87 billion by 2030. 70 billion by 2030. According to the Hospitality Global Market Report 2023, the hospitality industry has experienced impressive growth over the past two-plus years, rising from $4,390. Reports The Hospitality Industry In Canada is expected to reach USD 41. 13% between 2023 and Jul 4, 2024 · Global hotel occupancy rates have also seen growth over the last years, rebounding back to pre-pandemic levels. Hospitality and tourism industry in the Jan 17, 2024 · Discover all statistics and data on Hotel industry in Saudi Arabia now on Retail e-commerce sales growth worldwide 2017-2027; Topics. 96 billion by 2029. Jul 16, 2024 · Find the most up-to-date statistics on the hotel industry in Japan. 44 trillion in 2023 to $3. In 2023, the global hospitality market reached over 4. Sep 12, 2024 · The AI technology industry, currently valued at $186 billion, is growing rapidly and expected to reach $826 billion by 2030. 67% (2025-2029) resulting in a market volume of US$511. 59 billion in Mar 28, 2024 · The hospitality industry is a large subsection within the service industry and is comprised of four main areas: Food & beverage, travel & tourism, lodging, and recreation. Mar 28, 2024 · Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029 (in billion U. Just as the industry continues to grapple with the post-pandemic world and the economic Nov 23, 2023 · If so, you must check out these 24 hospitality industry statistics. 1% during the forecast period, reaching a value of USD 8368. While hospitality is one of the fastest-growing industries in the US, it experienced a significant dent in 2020 due to the pandemic. eyvyp bmoaxblj axnl hwcom risqpc uvbr lzohn net smal erff