Hospitality Industry 2023

Top insights for Hospitality Markets:

According to the MasterCard Global Destination Index, in the time of an increase of world real GDP of 140.3% the total amount of international overnights arrivals from 2009 to 2018 ascended by 176%, while overall tourism expenditures increased by even 197%.

With the number of domestic and international arrivals forecast to reach 15.6 billion and 1.8 billion by 2030 respectively, tourism is expected to continue generating significant benefits in terms of both socioeconomic development and job creation worldwide.

Globally, the market size of the hotel sector versus the market size of the short-term rental sector in 2018 was US$587bn against US$101bn respectively.

Overview per country:

• US: According to Cushman & Wakefield, as of June 2019, the U.S. reported 202,000 new hotel rooms under construction.
• Dubai: The number of hotel rooms increased in 2018 by 10.0 per cent from around 83 thousand to 91 thousand while the number of hotel apartment rooms grew marginally by 0.7 per cent to almost 25 thousand.
• Portugal: In May 2019, the tourism accommodation sector accounted for 2.6 million guests who spent 6.5 million overnight stays, corresponding to rates of change of +7.7% and +3.9% respectively (+10.0% and +10.5%, in the same order, in April).
• Slovenia: In November 2019 there were more than 290,000 tourist arrivals (1% fewer than in November 2018) and more than 700,000 tourist overnight stays (6% fewer than in November 2018) in accommodation establishments.
• Serbia: In January 2020, in accommodation facilities in the Republic of Serbia registered were 220 733 tourist arrivals, which means they increased by 24.2% when compared to the same period 2019.

Top view datapoints for Hospitality Markets:

• International Tourist Arrivals in the World - 1995 to 2019
• Forecast: International Tourist Arrivals in the World - 2019 to 2023
• Traveler Accommodations Tourism Output in the US - 1998 to 2019
• Forecast [COVID-19 updated]: Traveler Accommodations Tourism Output in the US - 2019 to 2023
• Nights Spent by Foreigners and Residents at Tourist Accommodations in the EU27 (2020) - 2005 to 2019
• Forecast [COVID-19 updated]: Nights Spent by Foreigners and Residents at Tourist Accommodations in the EU27 (2020) - 2019 to 2023