Hospitality Market Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032 offers a comprehensive analysis of the market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The hospitality market includes businesses (organizations, sole proprietors, or partnerships) that offer consumers lodging and/or prepare meals, snacks, and beverages for immediate consumption. It also includes businesses that sell associated commodities. Due to the fact that lodging and dining are frequently provided by the same business, the market includes both services. Non-residential accommodation services and food and beverage services make up the hospitality market's segments. The only items included are those exchanged between parties. The revenues for a specified geography are consumption values, which means that regardless of where the goods were produced, the organizations in the specified geography generated the revenues for the specified market.
Top Companies In The Hospitality Market:
Compass group plc,Starbucks,Sodexo,Marriott International,Aramark corporation,McDonald's,Darden Restaurants,Yum China Holdings Inc.,Chipotle and Berkshire Hathaway Inc.,Other Major Players.
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Market Dynamics And Growth Factors For Hospitality Market
Drivers:
Ease of International Travel
The rapid growth in the international business and leisure travel boosted the demand for food and beverages, and non-residential accommodations during the historic period. The availability of affordable air travel, agencies to organize trips, government-recognized hotels and resorts and policies such as visa-on-arrival for tourists encouraged international travel, driving growth in the hotel and other travel accommodation industry. This rise in tourism raised the demand for food and beverages, accommodation facilities, thereby driving the market during this period.
Restraint:
Security Concerns
Terrorism has affected tourists’ perceptions with regard to travel and the risks associated with it, so negatively affecting the hospitality industry. In recent years, terrorist acts have targeted tourist sites and places of public interest. For example, Sri Lanka's $4.4 billion tourism industry which accounts for around 5% of the country's GDP was severely affected due to terrorist bombings in April 2019. Terrorism also has indirect effects as all tourists have to pay more to acquire visas and often have to undergo intrusive body scans and lengthy procedures.
Segmentation Analysis of Hospitality Market
By Type
- Non-Residential Accommodation Services
- Food And Beverage Services
By Ownership
- Chained
- Standalone
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Report includes Competitor's Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the Action Figures And Statues?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
- How has the covid-19 impacted the growth of the market?
- Has the supply chain disruption caused changes in the entire value chain?
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