In 2023, the direct contribution of tourism & hospitality industry to India's GDP was over 231 billion U.S. dollars. This was forecasted to be 523 billion U.S. dollars by 2034. India had the second highest tourism GDP contribution in Asia-Pacific. Ever-growing industry    Travel and tourism is one of India’s largest economic sectors, ranking eighth among the leading countries in terms of direct contribution to GDP. As a dynamic sector, it was estimated to provide employment to over 81 million people in 2018, including both direct and indirect employment. Even though a variety of skilled jobs are offered in this sector, employment under passenger transportation has been the highest through the years. Tourism as revenue machinery Most of the tourism revenue in India comes from domestic tourists. However, India has witnessed an exponential rise in foreign exchange earnings since 2000, along with an increased inflow of foreign tourists into the country. Even though India is not among the top ten countries with the highest foreign tourism revenue, it is not too far behind. In recent years, the government has implemented new visa policies and advertised niche tourism products to boost tourism.

View quarterly updates and historical trends for US GDP - Contribution of Accommodation and Food Service Industries. from United States. Source: Bureau of…

The coronavirus (COVID-19) pandemic is causing a decrease in hotel occupancy rates in the United States. As a result, the hotel sector's contribution to GDP could also see a drop. If occupancy rates were to drop by ** percent in the U.S., this would potentially result in a loss of *** billion U.S. dollars being contributed by the hotel sector to GDP in 2020. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

GDP: Shanghai: Tertiary Industry: Hotel and Catering Service data was reported at 40.870 RMB bn in 2023. This records an increase from the previous number of 31.320 RMB bn for 2022. GDP: Shanghai: Tertiary Industry: Hotel and Catering Service data is updated yearly, averaging 23.108 RMB bn from Dec 1992 (Median) to 2023, with 32 observations. The data reached an all-time high of 45.890 RMB bn in 2019 and a record low of 1.782 RMB bn in 1992. GDP: Shanghai: Tertiary Industry: Hotel and Catering Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Shanghai.

Cambodia GDP: Services: Hotel and Restaurants data was reported at 7,438,179.218 KHR mn in 2022. This records an increase from the previous number of 5,951,971.848 KHR mn for 2021. Cambodia GDP: Services: Hotel and Restaurants data is updated yearly, averaging 2,472,893.224 KHR mn from Dec 1993 (Median) to 2022, with 30 observations. The data reached an all-time high of 9,532,672.377 KHR mn in 2019 and a record low of 154,602.026 KHR mn in 1993. Cambodia GDP: Services: Hotel and Restaurants data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Cambodia – Table KH.A005: SNA 1993: Gross Domestic Product: by Industry.

In 2024, the contribution of hotel, restaurants, and bars to the gross domestic product (GDP) of the Dominican Republic amounted to around *** billion Dominican pesos. This figure represents an increase of approximately ** percent versus the previous year.

Graph and download economic data for Real Gross Domestic Product: Accommodation and Food Services (72) in the United States (USACCFDRGSP) from 1997 to 2024 about arts, entertainment, accommodation, recreation, GSP, private industries, food, services, private, real, industry, GDP, and USA.

The United Kingdom Hospitality Market Segments by Sector (Accommodation, Food and Beverage Service Establishments, and More), by Service Model (Full-Service, Limited / Budget and More), by End-User (Leisure Travellers, Business Travellers and More), by Booking Channel (Direct, Online Travel Agencies, and More), by Ownership Model (Independent Operators and Chain / Branded), by Geography.

In 2024, accommodation and food service activities in Ghana contributed around 4.3 billion Ghanaian cedis (GHS), roughly 413.3 million U.S. dollars, to the country's gross domestic product (GDP). This represented an increase from the preceding year. Within the period reviewed, a peak of nearly six billion GHS was registered in 2019, which continued the rising trend observed from 2014. Overall, the total consumer spending on restaurants and hotels in Ghana was projected to gradually increase.

The India Hospitality Market Segmented by Type (Chain Hotels, Independent Hotels, and Others), Accommodation Class (Luxury, Mid & Upper-Mid-Scale, and Others), Booking Channel (Direct Digital, Online Travel Agencies (OTAs), and Others), Geographic Region (North India, West India, and Others). The Market Forecasts are Provided in Terms of Value (USD).

Laos GDP: Services: Hotel & Restaurant data was reported at 848,900.500 LAK mn in 2006. This records an increase from the previous number of 690,773.200 LAK mn for 2005. Laos GDP: Services: Hotel & Restaurant data is updated yearly, averaging 374,123.251 LAK mn from Dec 1990 (Median) to 2006, with 9 observations. The data reached an all-time high of 848,900.500 LAK mn in 2006 and a record low of 921.700 LAK mn in 1990. Laos GDP: Services: Hotel & Restaurant data remains active status in CEIC and is reported by Lao Statistics Bureau. The data is categorized under Global Database’s Laos – Table LA.A009: GDP: by Industry: Current Price. Rebased from 1990 Price to 2002 Price.

GDP: Hunan: Tertiary Industry: Hotel and Catering Service data was reported at 109.800 RMB bn in 2023. This records an increase from the previous number of 96.170 RMB bn for 2022. GDP: Hunan: Tertiary Industry: Hotel and Catering Service data is updated yearly, averaging 25.627 RMB bn from Dec 1992 (Median) to 2023, with 32 observations. The data reached an all-time high of 109.800 RMB bn in 2023 and a record low of 1.364 RMB bn in 1992. GDP: Hunan: Tertiary Industry: Hotel and Catering Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Hunan.

United States Hospitality Industry Market size was valued at USD 15.31 Billion in 2024 and is projected to reach USD 23.68 Billion by 2031, growing at a CAGR of 5.6% from 2024 to 2031.United States Hospitality Market DriversThe market drivers for the United States Hospitality Market can be influenced by various factors. These may include:Economic conditions: The hotel industry is strongly impacted by the nation's overall economic health, which includes variables like GDP growth, employment rates, and consumer spending. People travel more and spend more on hotel services when the economy is doing well.Travel trends: The demand for hospitality services in particular locations may be influenced by shifting travel patterns, such as an increase in domestic or international travel, the rise of bleisure travel (combining business and leisure vacations), and the popularity of particular places.Technological developments: To improve customer experiences, increase operational efficiency, and customize services, the hotel sector is progressively implementing technology. Keyless entrance, personalized recommendations, and smartphone check-in are examples of trends that can affect customer preferences.Regulatory environment: The hospitality sector may be impacted by government laws and regulations, such as those pertaining to taxes, labor laws, and visa requirements. The competitiveness of the market and operating expenses might be impacted by regulatory changes.Consumer preferences: Shifts in the hospitality business can be driven by changes in consumer preferences, which can affect the kinds of services and amenities that are in demand. Examples of these shifts include a growing interest in wellness tourism, sustainable travel, or unique experiences.Rivalry: Pricing strategies and client loyalty may be impacted by the degree of rivalry in the hospitality industry, which includes the existence of well-known brands, fresh competitors, and alternative accommodation options like Airbnb.Global crises and events: The hospitality industry may be significantly impacted by events like health pandemics, natural disasters, geopolitical unrest, or economic downturns, which can alter demand and travel patterns.

Kenya's sector of accommodation and food services grew by ** percent in the third quarter of 2023. This represented an increase in comparison to 2022, when the sector's value added was around ** percent. In general, the Kenyan economy has been rebounding since the easing of containment measures implemented to curb the spread of COVID-19.

The Sri Lanka Hospitality Market Report is Segmented by Type (Chain Hotels, Independent Hotels), Accommodation Class (Luxury, Mid & Upper-Mid-Scale, and Other), Booking Channel (Direct Digital, Otas, Corporate/MICE, Wholesale & Traditional Agents), and Geography (Colombo & Western Province, Southern Coast, Central & Hill Country, and Other Regions). The Market Forecasts are Provided in Terms of Value (USD).

GDP: Hainan: Tertiary Industry: Hotel and Catering Service data was reported at 26.600 RMB bn in 2023. This records an increase from the previous number of 22.360 RMB bn for 2022. GDP: Hainan: Tertiary Industry: Hotel and Catering Service data is updated yearly, averaging 4.933 RMB bn from Dec 1992 (Median) to 2023, with 32 observations. The data reached an all-time high of 26.720 RMB bn in 2019 and a record low of 0.543 RMB bn in 1992. GDP: Hainan: Tertiary Industry: Hotel and Catering Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Hainan.

Graph and download economic data for Full-time equivalent employees: Domestic private industries: Services: Hotels and other lodging places (J4361C0A173NBEA) from 1948 to 1987 about lodging, hotel, full-time, private industries, domestic, services, private, employment, industry, GDP, and USA.

GDP: Anhui: Tertiary Industry: Hotel and Catering Service data was reported at 97.650 RMB bn in 2023. This records an increase from the previous number of 83.160 RMB bn for 2022. GDP: Anhui: Tertiary Industry: Hotel and Catering Service data is updated yearly, averaging 15.467 RMB bn from Dec 1992 (Median) to 2023, with 32 observations. The data reached an all-time high of 97.650 RMB bn in 2023 and a record low of 1.573 RMB bn in 1992. GDP: Anhui: Tertiary Industry: Hotel and Catering Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Anhui.

Graph and download economic data for Taxes on corporate income: Domestic industries: Services: Hotels and other lodging places (B3162C0A144NBEA) from 1987 to 2000 about lodging, hotel, tax, domestic, corporate, income, services, industry, GDP, and USA.

In 2024, the total contribution of travel and tourism to the global gross domestic product (GDP) amounted to **** trillion U.S. dollars. This figure, which includes the direct, indirect, and induced impact of the global travel and tourism market, represented an increase in total contribution to GDP of *** percent over 2019. As forecast, the total contribution of the travel and tourism sector to the global GDP was expected to reach **** trillion U.S. dollars in 2025. Which countries record the highest travel and tourism contribution to GDP? GDP is the total value of all goods and services produced in a country in a year. It is considered an important indicator of a country's economic strength, and a positive change in GDP is a sign of economic growth. Both before and after the impact of COVID-19, the United States and China were by far the leading travel markets based on the total contribution of travel and tourism to GDP, followed by Germany, Japan, and the United Kingdom. What are the most visited countries in the world? In 2023, France was the country with the highest number of international tourist arrivals worldwide, welcoming 100 million international visitors. While the United States reported the third-highest number of inbound tourist arrivals that year, it was the destination with the highest international tourism receipts worldwide, ranking ahead of Spain and the United Kingdom.