Global Hostels Market Size, Drivers, Trends, Opportunities And Strategies – Includes Hostels Market Demand
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rise of solo travel are expected to drive innovation in hostels manufacturing, thus driving the market during the forecast period.
The global hostels market is expected to grow from $6.04 billion in 2022 to $6.35 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The global hostels market size is expected to grow from $7.65 billion in 2027 at a CAGR of 4.8%.
Get A Free Sample On The Global Hostels Market Report:
Global Hostels Market Segments Include:
- 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
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global hostels market in 2021.
Major Market Players in the hostels market include Hostelworld, Hostelling International, Green Tortoise Hostel; London Backpackers, Newquay Backpackers, Canada Hostels, WOKSEN, Cloudbeds.
The introduction of hybrid hostels is a key trend in the hostel market. To satisfy young urban professional travelers, hybrid hostels combine the affordability and sociability of dorm-accommodation with the upscale facilities of traditional hotels. For instance, Stay Hybrid Hostel is centrally located in Thessaloniki, near the Ladadika and Valaoritou areas. Every room at Stay Hybrid Hostel is air-conditioned, with exclusive music references. They offer personal rooms with personal facilities, tables for beds, a small desk, a wardrobe and a flat-screen TV.
The Hostels Global Market Report 2023 provides a hostels market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The hostels market forecast analyzes hostels market size, hostels market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A hostel can be described as a kind of budget-friendly shared accommodation that has a common area. Hostels typically have dorm-style rooms for travelers, but private rooms and hotel-like facilities are also available nowadays. Hostels prefer to concentrate on building a sociable atmosphere and are much less costly than hotels.
Explore Similar Reports From The Business Research Company:
Travel Arrangement And Reservation Services Global Market Report 2022
Hotel And Other Travel Accommodation Global Market Report 2022
Online Travel Agent Global Market Report 2022
Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Follow us on Twitter: https://twitter.com/tbrc_info
Check out our Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: