GITNUX MARKETDATA REPORT 2024

Hospitality Industry Statistics [Fresh Research]

Highlights: Hospitality Industry Statistics

  • 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.
  • 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.
  • 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.
  • 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.
  • 70% of hoteliers surveyed in 2021 planned to digitize hotel information, and 57% planned to digitize check-in and check-out processes.
  • Research shows a willingness of hoteliers to embrace digital solutions, which can help them improve efficiency and customer satisfaction.
  • 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.
  • 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.
  • 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.
  • 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.
  • South Africa’s hospitality industry is growing and is therefore a lucrative investment opportunity.
  • 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.

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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

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.
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/

FAQs

What is hospitality?

Hospitality is the relationship between a guest and a host, wherein the host receives the guest with goodwill, including the reception and entertainment of guests, visitors, or strangers.

What are the different types of hospitality services?

Types of hospitality services include lodging, food and beverage, event planning, tourism, and transportation.

What skills are needed for a career in hospitality?

Skills needed for a career in hospitality include customer service, problem-solving, communication, organization, and multitasking.

What is the job outlook for hospitality professionals?

The job outlook for hospitality professionals is positive, with the hospitality industry expected to grow by 10% over the next decade.

What is the best way to gain experience in the hospitality industry?

The best way to gain experience in the hospitality industry is to get an internship or entry-level position in a hotel, restaurant, or other hospitality-related business. Additionally, volunteering or shadowing a hospitality professional can help to gain valuable experience.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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