Hospitality can be defined somewhat broadly as an industry that focuses on providing consumers with a means to participate in leisure activities, be that staying in a hotel or dining in a restaurant. It encompasses many industries, the largest of which are accommodation and food and drink services. In 2023, the global hospitality market reached over 4.7 trillion U.S. dollars and was forecast to grow to around 5.5 trillion U.S. dollars in 2024.
Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029
(in billion U.S. dollars)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Market Data Forecast. (January 15, 2024). Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1247012/global-market-size-of-the-hospitality-industry/
Market Data Forecast. "Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029 (in billion U.S. dollars)." Chart. January 15, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1247012/global-market-size-of-the-hospitality-industry/
Market Data Forecast. (2024). Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1247012/global-market-size-of-the-hospitality-industry/
Market Data Forecast. "Market Size of The Hospitality Industry Worldwide in 2023, with Forecasts for 2024 and 2029 (in Billion U.S. Dollars)." Statista, Statista Inc., 15 Jan 2024, https://www.statista.com/statistics/1247012/global-market-size-of-the-hospitality-industry/
Market Data Forecast, Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1247012/global-market-size-of-the-hospitality-industry/ (last visited December 22, 2024)
Market size of the hospitality industry worldwide in 2023, with forecasts for 2024 and 2029 (in billion U.S. dollars) [Graph], Market Data Forecast, January 15, 2024. [Online]. Available: https://www.statista.com/statistics/1247012/global-market-size-of-the-hospitality-industry/
