Hostels Market 2020-2030: Global Industry Analysis, Growth Opportunities, Demand, Segmentation, Development Strategy and Forecast

The Business Research Company offers "Hostels Market Global Report 2020-30: Covid 19 Growth And Change" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market's historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

The global hostels market is expected to grow from $6.08 billion in 2019 and to $6.13 billion in 2020 at a growth rate of 1%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach $7.5 billion in 2023 at CAGR of 6.8%.

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The hostels market consists of sales of hostels and related services. 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 a hotel.

The greater spending by millennials (aged 18-35) is a key factor driving the growth of the hostels market. Due to low cost, good value, experience-based accommodation, convenient places, and opportunities to meet other travelers' millennials are opting hostels. More than 70% of hostel travelers are millennials, of whom 15% have spent the last 12 months in a hostel. In the U.S., 85% of millennial hostel travelers have taken a foreign trip in the past 12 months-compared to just 33% of all U.S. leisure travelers. The hostel industry has seen strong growth driven by millennial travelers (aged 18-35) looking to spend more money on longer trips and see the world as much as possible.

Hostels Market Segmentation: -
By Type
Students
Workers
Others

By Price Point
Economy
Mid-Range
Luxury

By Mode of Booking
Online Bookings
Direct Bookings
Others

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Few Points From Table Of Content
1. Executive Summary
2. Hostels Market Characteristics
3. Hostels Market Size And Growth
4. Hostels Market Segmentation
5. Hostels Market Regional And Country Analysis
......
25. Hostels Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Hostels Market
27. Hostels Market Trends And Strategies
28. Hostels Market Future Outlook and Potential Analysis
29. Appendix

The report covers the trends and market dynamics of the Hostels Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Hostels Market are Hostelworld, Hostelling International, Green Tortoise Hostel, London Backpackers, Newquay Backpackers, Canada Hostels, WOKSEN, Cloudbeds, A&O Hotels and Hostels, OPERA Property Management System (PMS)

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