What is the future outlook for hospitality and tourism?
What is the future outlook for hospitality and tourism? Leisure and hospitality projected to mostly recover pandemic-driven employment losses. The Bureau of Labor Statistics projects the U.S. economy to add 8.3 million jobs from 2021 to 2031. Of those, 1.9 million jobs—23.1 percent of all new jobs projected—are expected to be in leisure and hospitality.
What aspects may affect the tourism and hospitality industry in the future?
In the future the global tourism industry is likely to be affected by five key factors: human, geopolitical, economic, technological and environmental.
Is hospitality and tourism growing?
The hospitality and travel industry accounts for one out of every ten employment opportunities. Bringing the number of people earning their living in the sector to a remarkable 330 million in 2022. In 2022, there were 22 million new jobs, representing a 7.9% increase on 2021, and only 11.4% below 2019.
Is the hospitality industry growing 2023?
In 2023, the global hospitality market reached nearly 4.7 trillion U.S. dollars and was forecast to grow to 5.8 trillion U.S. dollars in 2027 at a compound annual growth rate (CAGR) of 5.5 percent.
What can we expect in the future of hospitality?
While many guest-facing experiences are already conducted through autonomous channels, 50% of hospitality and travel operators by 2026 will fully automate tasks such as booking and staff interaction, personalized check-ins, maintenance, and occupancy and room optimization.
What will tourism look like in 2030?
Towards 2030, the metaverse will enable visitors to mentally teleport themselves to destinations, regardless of time, financial resources and physical abilities. Individuals will seamlessly move between integrated digital and physical realities, where the engagement with travel becomes a part of daily life.
What will tourism be like in 2040?
The Future Travel Experience By 2040, international travel will have become a faster, easier and more ecologically-sustainable activity. It will also deliver a far richer traveller experience. Travel is one of the world's boom industries.
What is the future of hospitality in 2023?
Seeing as many people have to travel for work, trends in the hospitality industry are driven by the need to create a tranquil experience for working professionals. In 2023, hotels will introduce the more co-working spaces to provide an enhanced and comforting experience for their guests staying longer.
What is the outlook of the hotel industry in 2023?
Strong Hotel Performance Amid Economic Headwinds. The hospitality industry is off to a promising start entering H2 2023, with typical seasonal trends developing and revenue per available room (RevPAR) continuing to grow.
What is tourism 2025?
Tourism 2025 is a framework to unite New Zealand's large and diverse tourism industry and ignite strong, aspirational economic growth. The objective is to create $41 Billion of Total Tourism Revenue in 2025 by improving the competitiveness of New Zealand Tourism.
What is the future of tourism in 2050?
Tourism in the year 2050 will be by far the largest industry worldwide. Interna- tional arrivals will amount to 2 billion tourists per year and international receipts will reach a 2.1 trillion US$ (expressed in 1999 dollars) per year.