Hostels Global Market Report 2023 – By Type (Students, Workers, Other Types), By Price Point, (Economy, Mid-Range, Luxury), By Mode of Booking (Online Bookings, Direct Bookings, Other Mode Of Booking) – Market Size, Trends, And Global Forecast 2023-2032

A hotel or other travel accommodation refers to a location where legitimate travelers may get food or shelter as long as they have the means to pay for it and are in good enough health to be accepted. Accommodation is a group of rooms or a building in which someone may live or stay and is essential for any tourists who want to travel to another destination or on a trip because you will always need a place to stay such as hotels, caravan parks, camp sites, and so on. Hotels and motels are the most common types of hotel and other travel accommodation, followed by casino hotels, bed and breakfast lodging, and all other types of traveler lodging. A bed & breakfast accommodation is a form of lodging that includes an overnight stay as well as the first meal of the day in the fee. The different modes of booking involve online bookings, direct bookings, and others, and they include various ownerships such as chained, standalone. The price point of the services includes economy, mid-range, and luxury and they are used for tourist accommodation (leisure), official business (professional). The global hotel and other travel accommodation market is segmented - 1) By Type: Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveler Accommodation 2) By Mode of Booking: Online Bookings, Direct Bookings, Other Mode Of Booking 3) By Application: Tourist Accommodation (Leisure), Official Business (Professional) 4) By Price Point: Economy, Mid-Range, Luxury 5) By Ownership: Chained, Standalone The global hotel and other travel accommodation market grew from $747.32 billion in 2022 to $846.64 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hotel and other travel accommodation market is expected to grow to $1049.6 billion in 2027 at a CAGR of 5.5%. The increasing use of social media and access to mass media is positively impacting the tourism and hotel industries. With tourists sharing their travel information, photographs, and videos on social media platforms, people are increasingly becoming aware of the tourist destinations and recreational experiences offered by different countries around the world. For instance, in October 2022, according to a report published by Kepios Pte. Ltd., a Singapore-based online reference-based library, over the last year, social media users increased by 227 million, reaching 4.70 billion by the beginning of July 2022. Over the last year, the global social media user base has grown by more than 5%, with the most recent global total now equaling 59 percent of the world's total population. Every day, the world spends more than 10 billion hours on social media platforms, which is nearly 1.2 million years of human existence. Therefore, the increasing use of social media and access to mass media is growing demand for hotel and other travel accommodation market. Major companies in the hotel and other travel accommodation market include Marriott International, MGM Resorts International, Rewe Group, Ctrip.Com International Ltd., Intercontinental, Hilton Worldwide Holdings, Accor Hotels, TUI Group, Shanghai Jin Jiang International Hotels (Group) Company Limited. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the hotel and other travel accommodation market in 2020 as governments globally imposed restrictions on domestic and international travel, limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down." The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the hotel and other travel accommodation markets will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Hotels are using technologies that are transforming customer experiences. Some technologies are leading to great improvements and savings for the hotel and other travel accommodation markets. The most significant trends in the accommodation industry are the use of near-field-communication (NFC) technology, infrared technology, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant and secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for other functional purposes. Hotel operators are investing in systems and technologies that can automate processes, cut costs and personalize the experience for guests. Asia-Pacific was the largest region in the hotel and other travel accommodation in 2021. North America was the second largest region accounting in the global hotel and other travel accommodation market. The regions covered in the hotel and other travel accommodation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hotel and land other travel accommodation market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The hotel and other travel accommodation market includes revenues earned by entities by providing short-term lodging services such as hotels, motor hotels, resort hotels, and motels. The establishments in this industry may offer food and beverage services, recreational services, conference rooms, convention services, laundry services, parking, and other services. This market includes revenues from sales by restaurants to a delivery service but not the revenues of the delivery service itself. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The hotel and other travel accommodation market research report is one of a series of new reports from The Business Research Company that provides hotel and other travel accommodation market statistics, including hotel and other travel accommodation industry global market size, regional shares, competitors with a hotel and other travel accommodation market share, detailed hotel and other travel accommodation market segments, hotel and other travel accommodation market trends and opportunities, and any further data you may need to thrive in the hotel and other travel accommodation industry. This hotel and other travel accommodation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the hotel and other travel accommodation industry.

Travel arrangement services refer to the service of recommending, booking, and arrangement of travel and accommodation on behalf of clients. Reservation services refer to the service of reserving travel and accommodation on behalf of clients. The main types of travel arrangements and reservation services are travel agencies, tour operators, convention and visitors bureaus, and other travel arrangements and reservation services. A travel agency is a company that sells and arranges transportation, lodging, tours, and itineraries for tourists. The different modes of travel include domestic travel, and foreign travel and have various booking modes such as online, and offline. The global travel arrangement and reservation services market is segmented - 1) By Type: Travel Agencies, Tour Operators, Convention And Visitors Bureaus, Other Travel Arrangement And Reservation Services 2) By Mode of Travel: Domestic Travel, Foreign Travel 3) By Mode of Booking: Online, Online The global travel arrangement and reservation services market size will grow from $327.93 billion in 2022 to $408.73 billion in 2023 at a compound annual growth rate (CAGR) of 24.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of travel arrangement and reservation services market is expected to grow to $613.45 billion in 2027 at a CAGR of 10.7%. Growing initiatives by the government of various countries to promote tourism and build strong tourism infrastructure in order to increase the revenues generated from the tourism industry, is expected to drive the travel arrangement and reservation services market. For example, for the year 2022, the Indian government allocated €268 million ($316.3 million) in its union budget for the development of tourism. In addition, in 2022, a new drive was launched to increase the number of UAE nationals in the hospitality and tourism sector. Medyaf, an industry nationalization initiative at Dubai College of Tourism (DCT), part of Dubai’s Department of Economy and Tourism, launched the ‘Explore the Tourism Industry in Dubai' initiative, for promoting tourism in the country. Hence, the increasing government focus towards strengthening the tourism sector is expected to contribute positively to the market. Major companies in the travel arrangement and reservation services market report are BCD Travel, Travel Leaders Group, TUI Group, Booking Holdings, Expedia, CWT, Flight Centre Travel Group, TUI Airways, Tripadvisor Inc., and Shanghai Jin Jiang International Hotels (Group) Company Limited. Travel agencies and tour operators are increasingly using chatbots to offer personalized travel bookings to customers. A chatbot is an artificial intelligence program that can simulate a conversation with customers through messages or telephone calls and perform tasks such as ticket bookings and hotel reservations. Chatbots are an alternative to mobile applications and websites that provide personalized recommendations and bookings based on travel preferences and dates of travel. For instance, Booking.com allows travelers to book flights and hotels through chatbots on Skype, Facebook Messenger, and Slack. Other such chatbots include Dorothy, DoNotPay, Expedia, and Air New Zealand’s Oscar. Western Europe was the largest region in the travel arrangement and reservation services market in 2022. Asia-Pacific was the second-largest region in the travel arrangement and reservation services market share. The regions covered in the travel arrangement and reservation services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the travel arrangement and reservation services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The travel arrangement and reservation services market consists of revenues earned by entities that provide services such as travel agency services, arrange and assemble tours or provide other travel arrangement and reservation services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The travel arrangement and reservation services market research report is one of a series of new reports from The Business Research Company that provides travel arrangement and reservation services market statistics, including travel arrangement and reservation services industry global market size, regional shares, competitors with a travel arrangement and reservation services market share, detailed travel arrangement and reservation services market segments, market trends and opportunities, and any further data you may need to thrive in the travel arrangement and reservation services industry. This travel arrangement and reservation services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Online travel agents or agencies are individuals or companies with websites that allow consumers to book various travel-related services via the internet. Online travel agents invest in marketing and advertising to attract potential international customers. The main types of services in online travel agents are vacation packages, transportation, and accommodation. A package tour, package vacation, or package holiday is a combination of transportation and lodging advertised and offered by a tour operator. The different platforms include mobile/tablets based, desktop based and are available in various categories such as hotel bookings, tickets, and others. The global online travel agent market is segmented - 1) By Service Type: Vacation Packages, Transportation, Accommodation 2) By Platform: Mobile/Tablets Based, Desktop Based 3) By Category: Hotel Bookings, Tickets, Other Categories The global online travel agent market size will grow from $761.9 billion in 2022 to $865.5 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global online travel agent is expected to grow to $1,060.01 billion in 2027 at a CAGR of 5.2%. The surge in smartphone users along with growing internet penetration is anticipated to boost the online tourism industry and the business for travel agents during the period. Increasing penetration of the internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel ticket and hotel bookings. For instance, according to a special report on Digital 2020 published by We Are Social in January 2020, the number of internet users in 2020 augmented to 4.54 billion across the globe, recording a growth of 7% or 298 million new users compared to January 2019. Furthermore, according to Zippia, as of 2022, there are 6.65 billion smartphone users globally, and this number is expected to grow to 7.34 billion by 2025. Consequently, the rise in the number of smartphone users coupled with increasing internet penetration is forecast to propel the revenues for the growth of online travel agent market in the years to come ahead. Major players in the online travel agent market are Booking.com, Expedia Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute, and On the Beach, Alibaba Group Holding Limited, Hostelworld Group, Hotel Urbano Travel and Tourism SA, Fareportal Inc., Trivago GmbH, ThomasCook Group, Priceline Group Inc., HRS, Agoda, Airbnb Inc., and Hotel.de. Rising possibilities of uncertain events such as the COVID-19 outbreak or natural calamities is projected to limit the growth of the tourism industry and online travel agent. According to the UNWTO estimates, global international tourist arrivals in 2020 are predicted to fall by 20% to 30% compared to the previous year, which translates into a loss of $30-50 billion in travel spending by international visitors. Thus, the online travel agent market is to record a decline in 2020 owing to the impact of COVID-19 across the globe. Moreover, according to Travel Daily Media news, Typhoon Mangkhut jolts Hong Kong and China leaving the tourism, aviation, and transportation industry at standstill. Therefore, the possibility of natural events is probably restraining the growth of the tourism industry including the online travel agent market during the forecast period. Growing initiatives by the government of various countries to promote tourism and built strong tourism infrastructure to boost the revenues generated from the tourism industry is a major trend propelling the growth of the online travel agent market during the period. For instance, according to The Budget 2022, the Government of India allocated an additional amount of INR 2400 crores ($307.12 million) to the Ministry of Tourism. This budget is 18.42% higher than 2021-22, and it will be used by the Ministry of Tourism for developing tourism infrastructure, marketing and promotion, and capacity building. Therefore, the government initiatives and steps to promote tourism and develop tourism infrastructure are to act as a key trend in the online travel agent market over the period. In January 2020, Despegar, a Latin America-based online travel company acquired Best Day Travel Group for USD 136 million. This acquisition allows Despegar to increase revenues by 25%, further strengthening its market position as the leading travel agency both in Mexico and Latin America. Best Day Travel Group is a Mexico-based online travel agency. Asia-Pacific was the largest region in the online travel agent market in 2022. Western Europe was the second largest region in the global online travel agent market Share. The regions covered in the global online travel agent market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the online travel agent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The online travel agent market consists of revenues earned by entities that are engaged in selling travel services through online channels. Travel agents are engaged in the sales of travel services such as flights, buses, vacation packages, hotels, and rental cars via online networks. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The online travel agent market research report is one of a series of new reports from The Business Research Company that provides online travel agent market statistics, including online travel agent industry global market size, regional shares, competitors with an online travel agent market share, detailed online travel agent market segments, market trends and opportunities, and any further data you may need to thrive in the online travel agent industry. This online travel agent market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Smart apartments construction is the process of building, altering, repairing, improving, or demolishing any smart apartment using a detailed design and plan. Smart apartments are multifamily properties that are futuristic buildings equipped with advanced electronics and wireless devices. The smart apartments system requires a web portal or smartphone application to interact with the automated system as a user interface. The main types of products in smart apartments are building management systems (BMS), heating, ventilating, and air conditioning (HVAC), lighting control, security and access control, emergency alarm and evacuation systems, and audio and visual effects. Lighting controls are a class of smart lighting systems that can manage the amount, quality, and characteristics of light in a specific area. These smart devices help to reduce electricity waste while also boosting energy efficiency. Smart apartments are used in residential areas, hotels, and others. The global smart apartments market is segmented - 1) By Product: Building Management System (BMS), Heating, Ventilating, and Air Conditioning (HVAC), Lighting Control, Security and Access Control, Emergency Alarm and Evacuation System, Audio and Visual Effects 2) By Technology: Wi-Fi, Bluetooth, GSM/GPRS, RFID, Other Technologies 3) By Application: Residential, Hotel, Other Applications The global smart apartments market size will grow from $2.67 billion in 2022 to $3.1 billion in 2023 at a compound annual growth rate (CAGR) of 16.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global smart apartments is expected to grow to $5.3 billion in 2027 at a CAGR of 14.3%. The smart apartment market is driven by the increased use of IoT (Internet of Things) devices by people in every aspect of their daily routine. IoT involves sending and receiving data through a network of sensors, appliances, meters, and other devices. IoT-enabled sensors and devices are used to increase the efficiency of the appliances in a smart apartment, making it more efficient, sustainable, and safer. For example, a few IoT-enabled sensors are capable of automatically turning the lights on after sensing the presence in a room, thus adding a distinctive attribute to the smart apartments. Thus, the increased adoption of IoT technology boosts the growth of the smart apartment market. For instance, global spending on IoT across markets grew 12.1% in 2020 to $128.9 billion. Thus, the increased demand for IoT devices that help ease the lifestyle boosts the smart apartments market growth. Major players in the smart apartments market are Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International, and Siemens, Legrand SA. The risk of a potential cyber-attack leading to a breach in privacy restricts the growth of the smart apartment market. A smart apartment uses a complex network of devices connected over the internet that uses sensors and controllers, which are used to control the ventilation systems, heating systems, lighting, water, video surveillance systems, alarms, and other critical functions. Thus, any security breach caused due to a malicious cyber-attack affects the remote monitoring of temperature, system performance, and other variables of a smart building and intrudes the privacy of the residents. Any breach in the cybersecurity of a smart apartment may result in the exploitation of remote access privileges to gain access to the facility. For instance, in 2021, the experiment was conducted by the consumer group partnered with NCC Group and Global Cyber Alliance (GCA), in which the home was filled with smart devices. The result revealed that there were more than 12,000 cyber-attacks in a single week. The hacker used it to communicate with the plaintiff's family members. The incident raises issues regarding the safety of smart appliances installed in smart residential buildings. Thus, the growth of the smart apartment market is restricted by the risk of cyber-attack causing a privacy breach. The concept of using an apartment as a service (AaaS) is the latest trend driving the smart apartment market. In the apartment as a service concept (AaaS), fully furnished smart apartments are rented for very short to long periods of time. It helps to offer a cost-effective solution for tenants to live in a smart apartment. Using apartments as a service enables the rental operators to streamline their operations and costs, thus enhancing the resident’s experience and discovering new revenue streams for the owner. For instance, as reported by Entrata, a USA-based provider of property management software, in the USA, almost 57% of apartment tenants can pay up to $20 per month if smart technology is installed in an apartment. In June 2022, ADT Inc., a USA-based provider of electronic security, fire protection, and other related alarm monitoring services for homes, small business, and large businesses acquired IOTAS for an undisclosed amount. Through the acquisition, ADT Inc. aims to strengthen its product line in the multifamily market. IOTAS is a US-based provider of a premier smart home technology platform. A smart home automation feature offered by IOTAS is commonly found in single-family homes. Additionally, the company provides technology to property management firms to help them attract tenants. Asia-Pacific was the largest region in the smart apartments market in 2022. Africa is expected to be the fastest-growing region in the global smart apartments market during the forecast period. The regions covered in the global smart apartments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the smart apartments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The smart apartments construction market includes revenues earned by entities by constructing or remodelling and renovating smart apartments. This market includes the sales of residential housing general contractors (that is new construction, remodelling, or renovating existing residential structures), for-sale builders and remodelers of residential structures, residential project construction management firms, and residential design-build firms. The smart apartment work performed includes new work, additions, alterations, maintenance, and repairs. Smart buildings use automatic processes to control the buildings' operations, such as air conditioning, lighting, security and other systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart apartments market research report is one of a series of new reports from The Business Research Company that provides smart apartment market statistics, including global smart apartment market size, regional shares, competitors with a smart apartment market share, detailed smart apartment market segments, market trends and opportunities, and any further data you may need to thrive in the smart apartment industry. This smart apartment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A travel trailer is a vehicle on wheels that is intended to provide temporary housing for recreational, camping, or travel usage and is large enough or light enough to be towed by a motor vehicle without needing a special highway movement permit. Camper is the smaller version of travel trailers. The main types in the travel trailer and camper market are travel trailers and campers. A camper refers to a person who spends a day in a camp. The travel trailer and campers work on gasoline fuel and diesel fuel. The travel trailer and camper are used on-road and off-road. The global travel trailer and camper market is segmented - 1) By Type: Travel Trailer, Camper 2) By Fuel: Gasoline, Diesel 3) By Application: On Raod, Off Raod The global travel trailer and camper market size grew from $48.68 billion in 2022 to $53.95 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The travel trailer market is expected to grow to $79.2 billion in 2027 at a CAGR of 10.1%. Advances in technology are expected to be a continued driver of travel trailer and camper market growth in the forecast period. The global travel trailer and camper industries have experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles in 2020 include autonomous driving; driver override systems; biometric vehicle access; comprehensive vehicle tracking; active window displays; remote vehicle shutdown; active health monitoring; four-cylinder supercars; smart and personalized in-car marketing; and reconfigurable body panels. These innovations are expected to drive the travel trailer and camper market during the forecast period. Major companies in the travel trailer and camper market include Thor Industries, Inc; REV Group, Gulf Stream Coach, Inc; Apollo Tourism & Leisure Ltd., Eclipse, Recreational Vehicles Inc., and Fleetwood Corporation Limited. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the travel trailer and camper market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak harmed businesses throughout 2020 and into 2021. However, it is expected that the travel trailer and camper market will recover from the shock across the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Travel trailer and camper manufacturers are increasingly installing solar panels in travel trailers for the creation of a sustainable environment. A travel trailer traditionally depends on the use of noisy generators for its function. Solar panels do not make noise and are ultra-portable and lightweight. Solar panels can be easily mounted on trailers and convert sunlight into power, which can be used for the functioning of travel trailers. For instance, Renogy, Go Power, and Zamp Solar are examples of companies manufacturing solar panels and related systems for travel trailers and campers. Asia-Pacific was the largest region in the travel trailer and camper market in 2020. North America was the second-largest region travel trailer and camper market. The regions covered in the travel trailer and camper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the travel trailer and camper market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The travel trailer and camper market consists of sales of travel trailer, fifth wheel, toy hauler, pop up, truck camper, class A gas, and class A diesel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The travel trailer and camper market research report is one of a series of new reports from The Business Research Company that provides travel trailer and camper market statistics, including travel trailer and camper industry, global travel trailer and camper market size, regional shares, competitors with a travel trailer and camper market share, detailed travel trailer and camper market segments, market trends and opportunities, and any further data you may need to thrive in the travel trailer and camper industry. This travel trailer and camper market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The travel insurance is a type of insurance that covers different risks while traveling. It covers medical expenses, flight cancellations, lost luggage, and other losses that a traveler can incur while traveling. The main types of travel insurance are domestic and international. International travel insurance provides coverage for people who are traveling internationally. The various insurance covers in travel insurance are single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance that are used by various end-users, including senior citizens, corporate travelers, family travelers, educational travelers, and other end-users. The coverage of travel insurance includes medical expenses, trip cancellation, trip delay, property damage, and others that are distributed by various channels, including insurance intermediaries, insurance companies, banks, insurance brokers, and other distribution channels. The global travel insurance market is segmented - 1) By Type: Domestic, International 2) By Insurance Cover: Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, Long-Stay Travel Insurance 3) By Coverage: Medical Expenses, Trip Cancellation, Trip Delay, Property Damage, Other Coverages 4) By End User: Senior Citizens, Corporate Travelers, Family Travelers, Education Travelers, Other End-Users 5) By Distribution Channel: Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, Other Distribution Channels The global travel insurance market size will grow from $19.14 billion in 2022 to $22.44 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global travel insurance is expected to grow to $40.58 billion in 2027 at a CAGR of 16.0%. The rise in tourism is contributing to the growth of the travel insurance market. Travel insurance helps the tourism sector by providing financial help through certain packages that help travellers in medical emergencies, passport loss, flight cancellation, and misplaced or lost luggage. For instance, according to a report published by the United Nations World Trade Organization (UNWTO) in 2022, global tourism increased from 400 million in 2020 to 415 million in 2021, showing an increase of 4% in 2021 over the previous year. Therefore, the rise in tourism is driving the growth of the travel insurance market. Major players in the travel insurance market are Allianz SE, American Express Company, American International Group Inc., Assicurazioni Generali S.P.A, Atlas Travel Insurance, Aviva plc, Axa S.A., Bajaj Finserv Limited, Berkshire Hathaway Specialty Insurance Company, Chubb Limited, Generali Group, Insure & Go Insurance Services Limited, MAPFRE, Prudential Financial Inc., Saga PLC., Seven Corners Inc., Crum & Forster, Travelex Insurance Services Inc., USI Affinity Inc., Zurich Insurance, and Arch Capital Group Ltd. The incorporation of advanced technologies has emerged as the key trend gaining popularity in the travel insurance platform. Major companies operating in the travel insurance sector are focused on new technologies to strengthen their position in the market. For instance, in February 2022, Policybazaar, an Indian-based online insurance marketplace, launched AI-enables WhatsApp chatbot for automating the claim settlement process for its clients. In July 2021, Staysure Group, a UK-based travel insurance company, acquired Rock Insurance Group for an undisclosed amount. The acquisition is expected to further strengthen the position of Staysure Group as the market leader and would allow them to dominate across both the B2B and B2C arenas, offering quality policies to a much wider range of consumers. Rock Insurance Group is a UK-based travel, gadget, and commercial insurance company. Asia-Pacific was the largest region in the travel insurance market in 2022. The regions covered in the travel insurance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the travel insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The travel insurance market includes revenues earned by entities by evacuation insurance, baggage and personal items loss and life insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The travel insurance market research report is one of a series of new reports from The Business Research Company that provides travel insurance market statistics, including travel insurance industry global market size, regional shares, competitors with a travel insurance market share, detailed travel insurance market segments, market trends and opportunities, and any further data you may need to thrive in the travel insurance industry. This travel insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Travel retail refers to the business mainly revolving around airports, airplanes, cruise ships, and downtown duty-free stores. Travel retail products are sold during a travel environment where taxes and duties are payable, even during international travels. It is also referred to as the business of catering to shoppers while they are in transit. The main types of products in travel retail market are perfume and cosmetics, wine and spirit, electronics, luxury goods, food, confectionery, & catering, tobacco, others. The wine travel retail refers to the alcoholic fermented juice of fresh grapes used as a beverage. Wine spirit also called ethanol or ethyl alcohol a colorless flammable liquid, the active principle of intoxicating drinks, produced by the fermentation of sugars, ESP glucose, and used as a solvent and in the manufacture of organic chemicals. The different channels include airports, cruise lines, border, down town and hotel shops, railway stations and others and involve several end users such as children (less than 18 years old), youth (18-30 years old), middle-aged (18-59 years old), the elder (greater than 60 years old). The global travel retail market is segmented – 1) By Product Type: Perfume and Cosmetics, Wine and Spirit, Electronics, Luxury Goods, Food, Confectionery, and Catering, Tobacco, Other Products 2) By Channel: Airports, Cruise Lines, Border, Down Town and Hotel Shops, Railway Stations, Other Channels 3) By End Users: Children (less than 18 years old), Youth (18-30 years old), Middle-aged (18-59 years old), The Elder (greater than 60 years old) The global travel retail market size will grow from $68.91 billion in 2022 to $79.05 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of travel retail market is expected to grow to $126.48 billion in 2027 at a CAGR of 12.5%. The growing number of international travellers is expected to propel the growth of the travel retail market going forward. Mass tourism and package holidays have opened markets to large numbers of individuals. Travel retail helps the international travellers to book their tickets at any place by using internet and it helps in making their journey easier, as a result increase in international travels will increase the demand for travel retail. For instance, according to TSA (Transportation Security Administration, USA), In July 2021, there are 6.5 million more daily travelers than in June 2021. Therefore, the increase in international travelers is expected to drive the growth of the travel retail market. Major players in the travel retail market are Aer Rianta international, China duty free group co.ltd., Dufry AG, Duty free americas Inc., Gebr. Heinemann se & co.kg, King power international, Lotte Hotel, Lagardère sca, The shilla duty free, DFS Group, Flemingo International, The Naunace Group, Dufry, Dubai Duty Free, James Richardson Group, Lotte, and Qatar Duty Free. Technological Advancement is a key trend gaining popularity in the travel retail market. Technological advancement is a discovery of knowledge that advances technology. Travel retailers are using data insights such as advanced knowledge about the arrival and destination of the customer, and to cater to specific needs. Staff and retail displays are designed to accommodate incoming passenger language and cultural sensitivity so that the right products are plainly visible to the right customers. For instance, in 2020, Dubai airport started the ‘Click and Collect’ initiative where customers can buy products before traveling, provide their travel details, and acquire the products from the webshop. With the use of predictive analytics, tracking customer interaction with the brand or product at every point in the airport enables better segmentation. In June 2020, China International Travel Service Corporation, a China-based travel company acquired a 51% stake in Hainan duty-free company ltd., for an undisclosed amount. Through this acquisition, China International Travel Service Corporation is expected to upgrade its operational abilities, including supply-chain management and online store operations. Hainan Duty-free Co., Ltd is a China-based company that operates in travel retail and engages in the franchise of island-free duty-free goods. Asia-Pacific was the largest region in the travel retail market in 2022. The regions covered in the travel retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the travel retail market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The travel retail market includes revenues earned by entities by taking part in sales activities to meet the expectations of the customers while they are travelling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The travel retail market research report is one of a series of new reports from The Business Research Company that provides travel retail market statistics, including travel retail industry global market size, regional shares, competitors with a travel retail market share, detailed travel retail market segments, market trends and opportunities, and any further data you may need to thrive in the travel retail industry. This travel retail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Hospitality refers to the activity or business that provides services to customers in hotels, restaurants and bars. The hospitality industry includes any business where the primary source of income is the sale of food and drink or the provision of lodging. This industry includes a wide range of service-related fields such as hotels, restaurants, bars, event planning, theme parks, transportation, cruise lines, and other tourism-related fields. The main types of hospitality are non-residential accommodation services, food and beverage services. The non-residential accommodation services provide lodging or short-term accommodation for travelers, vacationers, and others. The different ownerships include chained and standalone. The global hospitality market is segmented - 1) By Type: Non-Residential Accommodation Services, Food And Beverage Services 2) By Ownership: Chained, Standalone Subsegments Covered: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-residential Accommodation, Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors The global hospitality market grew from $4,390.59 billion in 2022 to $4,699.57 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market is expected to grow to $5,816.66 billion in 2027 at a CAGR of 5.5%. The hospitality market growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Thus, stable economic growth is expected to drive the market during the forecast period. Major companies in the hospitality market include Compass group plc, Starbucks, Sodexo, Marriott International, Aramark corporation, McDonald's, Darden Restaurants, McDonald's, Darden Restaurants, Yum China Holdings Inc., Chipotle and Berkshire Hathaway Inc. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the hospitality market in 2020 as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Hotels are using technologies that are transforming the customer experience. Some technologies are leading to significant improvements and savings in the hospitality market. The most significant trends in this market are the use of near field communication (NFC) technology, infrared technologies, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for many other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and personalize the experience for guests Asia-Pacific was the largest region in the hospitality market in 2020. North America was the second largest region in the hospitality market. The regions covered in The hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hospitality market report are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam. The hospitality market includes revenues earned by entities by providing accommodation and food services such as lodging and/or preparing meals, snacks, and beverages for immediate consumption. The market covers both accommodation and food services because the two activities are often combined at the same establishment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The hospitality market research report is one of a series of new reports from The Business Research Company that provides hospitality market statistics, including hospitality industry global market size, regional shares, competitors with a hospitality market share, detailed hospitality market segments, market trends and opportunities, and any further data you may need to thrive in the hospitality industry. This hospitality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.