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The total value of the hospitality sector globally in 2014 was $2,307 billion. Related to a world population of more than 7 billion in 2014 this equates to about $329 per person globally. Given that World Domestic Product was approximately $78 trillion in 2014, the market makes up about 2.9%of the global economy.
One of the key factors driving the accommodation industry market size is occupancy rates. The consumer trend towards eating healthily combined with people with higher disposable income willing to pay more for healthy food options is likely to fuel this business. This in turn is likely to pose a major threat to the traditional quick service restaurants.
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