Trends in Global Accommodations: Asia-Pacific’s Rise and Business Travel’s Comeback

Skift Research estimates that the global accommodation market generated nearly $1.2 trillion in revenue in 2024, and in our latest report, project a rise to more than $1.3 trillion in 2026. Growth is driven by a combination of strong leisure travel and the rebound of business travel.

Our latest report updates the market size data from 2022. It includes a detailed regional analysis across the Americas, Europe, the Asia-Pacific region, the Middle East and North Africa, and Africa (excluding North Africa). It also analyzes subsectors of the market, such as hotels and short-term rentals, and the contribution of business and leisure travel to the accommodation sector.

Here are the top 3 takeaways from the report.

1: A Moderate Growth Forecast

We project roughly 5% year-on-year growth for the next two years, with total revenue topping $1.3 trillion in 2026.

2: The Asia-Pacific Region Will Surpass Europe by 2026

During the pandemic, the Asia-Pacific region surpassed Europe in accommodation revenue. While Europe was quick to recover, we anticipate the Asia-Pacific region will overtake Europe once again in 2026.

This is due to Europe's increasing accommodation supply regulations and constraints, versus the growing demand and supply within Asia-Pacific.

3. Business Travel Spending on Accommodation Overtook Pre-Pandemic Levels in 2024

Our report estimates that business travel’s contribution to the accommodation sector nearly reached 2019 levels in 2023 and was projected to grow by 10% in 2024 when final numbers are tallied.

Despite all the headwinds facing the industry, such as geopolitical challenges, the slow recovery of Chinese international travel, global conflicts, shifting political landscapes, and increasing regulatory restrictions on tourist accommodations, we anticipate moderate revenue growth in the coming years.

Read our recently published report Global Accommodation Sector Market Estimates 2025 for further insights into the global accommodation market.