The Business Research Company’s latest report Hospitality Global Market Report 2020 covers Hospitality market drivers, Hospitality market trends, Hospitality market segments, Hospitality market growth rate, Hospitality market major players, and Hospitality market size. The report provides in-depth analysis of the impact of COVID-19 on the Hospitality industry, along with revised market numbers due to the effects of the coronavirus.
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Hospitality Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global hospitality market is expected to decline from $4623.2 billion in 2019 to $4516.8 billion in 2020 at a compound annual growth rate (CAGR) of -2.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $5593 billion in 2023.
The report covers the Hospitality market’s segments-
1) By Type: Non-Residential Accommodation Services, Food And Beverage Services.
2) By Ownership: Chained, Standalone.
Subsegments Covered: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-Residential Accommodation, Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors
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