Stocklytics.com latest data indicates that the hotel industry’s revenue is projected to rise by 9 per cent to reach US$446.5 billion in 2024. Data reveals that tourists, travellers, and businesspeople spent US$411 billion on hotel accommodations last year, marking a US$41 billion increase from pre-COVID levels. This amount is anticipated to grow by nearly 9 per cent to US$446.5 billion this year. While the annual growth rate is projected to decelerate in subsequent years, hotel industry revenue is still expected to rise by an average of US$15 billion each year, reaching a market volume of US$508.9 billion by 2028.
