It is anticipated that the global hospitality market will develop significantly between 2024 and 2031. The market has been growing consistently as of 2022, and with more major players putting their ideas into practice, there is hope for continued expansion during the projected time frame. The hotel industry is expecting 2024 to be even more successful than 2023 was. According to industry experts, the Indian hospitality and tourist sector had a strong growth year with domestic travel leading the way. Going forward, they anticipate rapid employment.
Experts predict a minimum of 25% increase in the need for workers, with adjacent industries like travel, aviation, ticket booking, travel guides, and consultants also experiencing high demand. A report by the Hotel Association of India (HAI) projects the hotel industry’s direct contribution to India’s GDP to reach $1 trillion by 2047. “It is a noteworthy accomplishment that the hotel business has directly contributed to India’s GDP reaching $1 trillion by 2047. This significant expansion will surely support the sector’s job creation. The Association also stated that there will be a rise in the need for social media managers, digital content producers, vegan food and beverage experts, sustainability consultants for hotels and resorts, and spa and healthcare professionals.
