The hospitality industry is a major economic force, and its success is closely tied to the overall health of the global economy. As such, it’s important to stay up-to-date on the latest hospitality industry statistics.
In this blog post, we’ll take a look at some of the most significant figures and trends in the hospitality industry, and discuss what they mean for businesses in the sector. We’ll also explore how the industry is adapting to the changing landscape of the global economy, and what the future may hold for the hospitality industry.
Hospitality Industry: The Most Important Statistics
70% of hoteliers surveyed in 2021 planned to digitize hotel information, and 57% planned to digitize check-in and check-out processes.
Hotels and restaurants in Spain, Germany, and Italy employ the most people in the hospitality sector in the EU, with a total of 7.9 million people employed in 2021.
Hospitality Industry Statistics Overview
The hotel and resort sector’s market size peaked at $1.52 trillion in 2019, dropped below $1 trillion in 2020 and 2021 due to the COVID-19 pandemic, and is expected to reach $1.21 trillion in 2023.
Wyndham Hotels & Resorts leads the global ranking of the top hotel companies with close to 9,000 properties as of September 2021, followed by Marriott International and Choice Hotels International with 7,662 and 7,111 properties, respectively. This provides an indication of the size and scope of the leading players in the industry.
Technology in the Hospitality Industry
24% of hoteliers in Asia, Europe, and North America cited enhancing the guest experience as the primary reason for implementing technology, while only 5% cited saving time.
Hoteliers prioritize guest experience over efficiency when it comes to utilizing technology. It also indicates that hoteliers are focused on providing a high-quality experience for their guests, which is essential for the success of the hospitality industry.
70% of hoteliers surveyed in 2021 planned to digitize hotel information, and 57% planned to digitize check-in and check-out processes.
This shows the growing trend of digitization in the hospitality industry. As technology advances, hoteliers are increasingly turning to digital solutions to improve the guest experience.
Research shows a willingness of hoteliers to embrace digital solutions, which can help them improve efficiency and customer satisfaction.
Employment in the Hospitality Industry
The US economy is expected to add 8.3 million jobs between 2021 and 2031, with leisure and hospitality accounting for 23.1% of all new jobs, the fastest of any sector at 1.3% per year.
Thus, there is a strong-predicted growth of the sector due to the recovery from the COVID-19 pandemic, which is a positive sign for the industry.
The Bureau of Labor Statistics estimated that 15.11 million Americans worked in the hotel and leisure business in December 2021, showing a rise since the previous year, despite the COVID-19 pandemic.
Restaurants in the Hospitality Industry
McDonald’s is the most successful food service group in Europe, generating 26.5 billion euros in 2019, which is more than three times the amount generated by Sodexo, the second-ranked firm.
This shows the dominance of McDonald’s in the European food service industry and the potential for other companies to compete with them. It also provides insight into the size of the European food service market and the potential for growth in the sector.
Hotels and restaurants in Spain, Germany, and Italy employ the most people in the hospitality sector in the EU, with a total of 7.9 million people employed in 2021.
Hospitality Industry in South Africa
South Africa’s hotel industry is expected to grow from 4 billion U.S. dollars in 2018 to 4.4 billion in 2023, driven by increased investment and demand in large cities such as Johannesburg and Cape Town.
South Africa’s hospitality industry is growing and is therefore a lucrative investment opportunity.
Johannesburg is a major tourist destination in the Middle East and Africa, which could lead to more investment in the hospitality industry in the region.
Income generated from tourist accommodation in South Africa in 2022 was 2.5 billion South African rand (165.89 million U.S. dollars), slightly higher than 2020, but lower than prior to COVID-19 pandemic.
The COVID-19 pandemic therefore had a strong impact on the tourism industry in South Africa, which has seen a significant decrease in income from tourist accommodation compared to pre-pandemic levels.
Conclusion
The hospitality industry is a dynamic and ever-evolving sector, and the statistics presented in this blog post demonstrate the importance of the industry in the global economy.
The hospitality industry is expected to continue to grow and expand in the coming years, and it is important to stay informed of the latest trends and developments. With the right strategies and investments, it can continue to thrive and provide a valuable service to customers.
References
1 – https://www.statista.com/statistics/1186201/hotel-and-resort-industry-market-size-global/
2 – https://www.statista.com/statistics/197869/us-hotel-companies-by-number-of-properties-worldwide/
3 – https://www.statista.com/statistics/1250334/key-reasons-hotels-use-technology-worldwide/
4 – https://www.statista.com/statistics/1250380/guest-experiences-hoteliers-want-to-digitalize-worldwide/
5 – https://www.bls.gov/opub/ted/2022/leisure-and-hospitality-projected-to-mostly-recover-pandemic-driven-employment-losses.htm#:~:text=The%20Bureau%20of%20Labor%20Statistics,of%20total%20employment%20in%202021.
6 – https://www.statista.com/statistics/978503/hospitality-industry-employees-us/
7 – https://www.statista.com/statistics/792751/leading-foodservice-groups-in-europe/
8 – https://www.destatis.de/Europa/EN/Topic/Population-Labour-Social-Issues/Labour-market/employment-hospitalityindustry.html
9 – https://www.statista.com/forecasts/424545/hotels-camping-sites-and-other-provision-of-short-stay-accommodation-revenue-in-south-africa
10 – https://www.statista.com/statistics/1293062/income-from-tourist-accommodation-in-south-africa/
