The Business Research Company’s latest report Hostels Global Market Report 2020 covers Hostels market drivers, Hostels market trends, Hostels market segments, Hostels market growth rate, Hostels market major players, and Hostels market size. The report provides in-depth analysis of the impact of COVID-19 on the Hostels industry, along with revised market numbers due to the effects of the coronavirus.
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Hostels 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 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%.
The report covers the Hostels market’s segments-
1) By Type: Students, Workers, Others.
2) By Price Point: Economy, Mid-Range, Luxury.
3) By Mode of Booking: Online Bookings, Direct Bookings, Others.
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