The Beach Hotels Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Beach Hotels Global Market Report 2024, The beach hotels market size has grown steadily in recent years. It will grow from $149.81 billion in 2023 to $156.78 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to tourism and travel trends, adventure and water activities, government funding and initiatives worldwide to promote the tourism industry, seasonal demand, and cultural and recreational activities.
The beach hotels market size is expected to see strong growth in the next few years. It will grow to $191.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rising global tourism, increase of beachfront development, growing trend of beach holidays, increasing demand for luxury beach resorts, and rising trend of destination wedding. Major trends in the forecast period include technological improvements, changing consumer tastes, trend of sustainability and eco-tourism, diverse accommodation options, and online booking incentives.
The rising tourism is expected to propel the growth of the beach hotels market going forward. Tourism is traveling for pleasure, recreation, or business purposes, typically involving staying in places away from one’s usual environment. It encompasses a wide range of activities and services to meet travelers’ needs and interests. The rise in tourism is due to increasing disposable incomes, improved transportation infrastructure, and the growing desire for new experiences and cultural exploration. Beach hotels bolster the tourism industry by attracting visitors, creating local jobs, supporting businesses, enhancing infrastructure, promoting cultural exchange, and driving sustainable tourism. For instance, in 2024, according to the World Travel and Tourism Council, a UK-based non-profit organization, the travel and tourism sector contributed 9.1% of the global GDP in 2023, marking a 23.2% increase from 2022. Therefore, the rising global tourism is driving the beach hotels market.
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The beach hotels market covered in this report is segmented –
1) By Type: Budget, Premium, Standard
2) By Service Type: Accommodation, All-Inclusive, Food Services, Events, Other Service Types
3) By Booking Channel: Offline Booking, Online Booking
4) By Occupants: Group, Solo
Major companies operating in the beach hotels market are focusing on technological improvements in hotel areas, such as space renovation with 3D mapping technology, to enhance the guest experience and optimize operational efficiencies. 3D mapping technology enables hotels to create detailed virtual tours for guests, enhance space management, optimize event planning, and improve maintenance operations through precise spatial data. For instance, in September 2023, W South Beach, a US-based luxury hotel, launched its $6 million ballroom and meeting space renovation. The space features cutting-edge 360 projection technology, which can recreate any ambiance or experience, ranging from an immersive underwater world to the skyline of any global city, heralding a new standard in exceptional events and experiences. Utilizing 3D-mapping technology, the 4,300-square-foot ballroom is transformed with storytelling, visual effects, and precise audio-visual integration. This innovative setup offers guests a mesmerizing journey akin to the renowned L’Atelier des Lumières in Paris.
The beach hotels market report table of contents includes:
1. Executive Summary
2. Beach Hotels Market Characteristics
3. Beach Hotels Market Trends And Strategies
4. Beach Hotels Market – Macro Economic Scenario
5. Global Beach Hotels Market Size and Growth
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32. Global Beach Hotels Market Competitive Benchmarking
33. Global Beach Hotels Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Beach Hotels Market
35. Beach Hotels Market Future Outlook and Potential Analysis
36. Appendix
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