Industry Analysis & Industry Trends
The industry experienced decreases in revenue over the past five years as both consumers and businesses became more concerned about their finances and cut back on luxuries, which included travel and stays at hotels and resorts. Travel spending is projected to increase over the next five years as the world economy continues to improve and tourist dollars continue bolstering revenue for global hotels and resorts... read more
The industry is generally spread according to its global share of domestic and international tourism generated activity. An estimated 39.1% of global travel and tourism economic activity occurs in Europe and an estimated 37.8% of the Global Hotels and Resorts industry's revenue is generated in the same region. The results are similar for North America, with respective percentages of 30.9% and 29.4%, and North Asia, with 16.4% and 17.2%.
Within these regions, significant differences in share of hotels and international tourism by sub-region occur, which IBISWorld expects provides a good indicator of share of the industry... read more