Leading Global Tourist Spots and Prominent Hotel Brands
The tourism sector is rapidly expanding as a substantial amount of individuals are globetrotting. Tourists are now willing to shell out money for suitable accommodation when travelling. This has resulted in the hotel and hospitality industry filling in this gap and allowing tourists to explore freely without contemplating their temporary residence while travelling.
The tourism sector has always been a lucrative option due to the ever-growing number of tourists who frequently tour. As of 2024, international trips had reached 1.1 billion, with the most visited country being France. Countries like France, the USA, and other tourist destinations are now seeing major footfalls similar to those in the pre-pandemic era.
Tourism has gained momentum, with top-visited countries showing significant international visitors. In 2024 France was the most visited country with 89.4 million international arrivals. This was followed by Spain, with 83.7 million global travellers. The US and China followed close behind with 79.3 million and 65.7 million international tourists, respectively.
Additionally, Italy welcomed a pronounced figure of tourists amounting to 64.5 million. 51.2 million tourists visited Turkey, compared to 45 million in Mexico and 39.8 million in Thailand. Germany and the UK received a similar amount of visitors; the former had 39.6 million, while the latter had 39.4 million.
Growth Factors
The international tourism sector has almost returned to normalcy, if not more. The level of tourism has reached the pre-COVID era, as surveys show that the travelling pattern in 2024 was 98% of 2019 levels. Covid 19, while forcing us to stay home, has also opened up numerous work-from-home opportunities. 28% of the population worldwide are remote workers, and 14% are willing to travel to new destinations as their jobs offer flexibility. Interestingly, the average remote worker saves $12,000 annually as commuting is no longer required.
Another travel trend that is gripping the tourism industry is "bleisure" with business trips and leisure travel going hand in hand. This trend bodes well for the hotel industry as it helps in mixing pleasure with business. Corporate trips can now be clubbed together with fun vacations, with 66% of business executives adding more days to their trips in order to utilise their vacations to the fullest. Hotel chains such as Hilton offer "bleisure" packages, which include free gym membership, business centres, hands-on culinary classes and spa treatments for relaxation.
Interconnection Between Hospitality and Tourism
The hotel industry thrives in great leaps and bounds when in the vicinity of a global tourist attraction. This interdependency is prosperous for both sectors, with hotels receiving major income due to the number of visitors exploring various tourist hotspots. This is also due to the fact that 70% of the millennial and Gen Z population would rather invest in experiences than in commodities.
Top hotel chains have claimed a stake in every major tourist attraction country. In France, Accor SA has secured a name for itself in the hospitality industry, generating $0.648 billion in 2024. In Spain, Riu Hotels and Resorts is a well-known hotel chain, earning $2.7 billion in annual revenue. In the US, Marriott International leads the hospitality industry, making $24.76 billion.
In China, Jin Jiang International was the top-earning hotel chain with $3.9 billion, while in Italy, BWH Group made the most, generating $14.37 billion. This was followed by Dedeman hotels in Turkey ($0.259 billion), Grupo Posadas in Mexico($0.507 billion), Minor International ($3.54 billion), Accor Invest Germany GmBH ($1.53 billion) and finally Premier Inn (Whitbread) in the United Kingdom( $3.08 billion).
The tourism and hospitality industries continue to thrive as international travel rebounds to pre-pandemic levels. The tourism and hospitality industries have a more mutually beneficial relationship than ever before, with countries receiving millions of tourists each year and hotel chains making billions of dollars. Both industries are positioned for steady growth as the travel industry develops further, providing passengers all around the world with engaging experiences.