The global hostel market is expected to be worth USD 12.95 billion by 2030

According to SPER Market Research, the global hostel market is expected to reach USD 12.95 billion by 2030 with a CAGR of 11.2%.

NEW YORK, USA, Oct. 4, 2022 / — According to SPER Market Research, the global hostel market is made up of the hostel market and other related services. A hostel is a type of low-cost community accommodation with a common area. Travelers frequently stay in dorm-style rooms in hostels; however, individual rooms and hotel-style facilities are now available. Hostels strive to provide a social environment in addition to being significantly cheaper than hotels.

Online channels are mainly driving the growth of the hostel market. More than 70% of bookings are made through online travel agencies, which is accelerating the growth of hostel markets. Hostels now offer private rooms, lively bars with drinks, yoga classes and exquisite interiors, abandoning the outdated notion of simply providing bunk beds.

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Market Overview (2022-2030)
• Forecast CAGR (2022-2030): 11.2%
• Projected market size (2030): 12.95 billion
It is becoming increasingly common for travelers to choose hostels over hotels for the duration of their stay. Compared to a hotel room, you pay significantly less. A high is also provided by participating in the idea of ​​community involvement and being exposed to various cultures. With group travel, language classes, meditation and yoga, among other activities, life is simply fun and fun here.

Impact of COVID-19 on the Global Hostels Market:
The rage of COVID-19 has not spared hostels, as it has cast a shadow over every industry imaginable. Rooms in the capital’s hostels started filling up immediately as soon as the lockdown was made public globally, and the majority of hostels closed their doors to outsiders or barred them from entering. Throughout the forecast period, the growth of the industry is expected to be affected by several long-term effects.

Our ongoing investigation builds on our search strategy to ensure inclusion of the underlying issues of COVID-19 and potential future pathways. The study provides insights into COVID-19 by analyzing shifts in consumer demand and behavior, buying patterns, supply chain rerouting, current market force dynamics, and government actions important. Information, analysis, projections and forecasts are provided in the updated study, which considers the impact of COVID-19 on the market.

Browse the “Global Hostels Market” report overview at:

Industry definition and major segments:
The SPER Market Research report seeks to provide forecasts on market dynamics, demand and supply for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.

Global Youth Hostel Market, by Type:
• Students
• Workers

Global hostel market, by price:
• Economy
• Midrange
• Luxury

Global youth hostel market, by booking method:
• Online reservations
• Direct bookings

Global hostel market, by region:
• North America
• Europe
• Asia Pacific

This research also includes important market drivers and restraints for the forecast period. The study also looks at several potential developments.

Main market players:
The Global Hostels Market study provides market insights by competitive landscape, revenue analysis, market segments and detailed analysis of major market players such as; A&O Hostels, Astor Hostels, Bohemian Hostels, Be Hostels, Che Lagarto, Clink Hostels, Destination Hostels, Equity Point Hostels, Funky Hostels, Gatliff Hostels, Generator, One Hostels, HUB Hostels, Hoppo Hostels, K Hostels, Loki Hostels, Nest Hostels , Mad Monkey, Meininger, St. Christopher’s Inns.

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