It’s never been easier to take a trip and still feel the comforts of home. According to a recent study, the market for accommodation worldwide is worth over $630 billion, and is estimated to take a flying leap to nearly $900 before 2026. Supporting conditions for the growth are surges among several demographics among leisure and business travellers, as well as the development of varied online platforms for booking places to stay. The online option in particular is a game changer for the industry, and has transformed many individual residences into hotel rooms, dramatically multiplying the number of places available to travellers.
Opening up
Easing up on formerly tedious visa requirements in countries throughout Africa as well China and India is also significantly contributing to the global trend for more widespread travel accommodation bookings in hotels, B&Bs, paying guest accommodation and other places to stay. Accommodation seekers on the road are most interested in mid-range options for their mix of services and reasonable prices.
On the move, all the time
The growth of tourism and travel overall, particularly the ease of booking tickets online for travel by air, rail and by road, goes hand in hand with the trend. The over-tourism phenomenon, though, shows that some prudence and guidelines may be needed for sustainable long-term growth in the accommodation sector. Both travellers and locals should not be overwhelmed. Otherwise more major cities and venues will have to corrective measures taken by the city of Amsterdam, which recently asked tourists to consider going elsewhere, and has implemented steps designed to gently slow the flow of people coming to enjoy the popular Dutch city.
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