Hospitality Verticals: Lodging Market Size
The global market size for the lodging industry is $161.46 billion. Other requested information about the industry is presented below.
Global Market Size
- The current global market size of the lodging industry is $161.46 billion.
- According to Zion Market Research, the industry is expected to grow at an average CAGR of 4.6%.
- Going by this growth rate, the industry is expected to grow to $211.54 in 2026.
- North America is the largest geographic market for the global lodging industry largely because the U.S. is among the most popular tourist destinations. It is also a global financial hub.
- In 2018, the retail value of the global hotel industry was $600.49 billion.
- In 2018, Europe had the highest occupancy rate at 72.4% with Asia Pacific region second with 70.6%.
An extensive research through market reports, industry publications, and reputable news outlets did not unearth the estimated market size for 2019 or 2020. Although the information exists, it is behind paywalls and requires purchase. However, Zion Market Research has provided the industry’s 2018 size and projected CAGR. Thus, we were able to calculate the approximate market size for 2020 as shown by the calculations are below.
2018 market size was $147.57 billion. At a CAGR of 4.6%, the market sizes for 2019 and 2020 are as follows;
2019 = $147.57 billion + ($147.57 billion*4.6%) = $154.36 billion
2020 = $154.36 billion + ($154.36 billion*4.6%) = $161.46 billion